VANCOUVER, Feb. 14, 2018 /CNW/ - HashChain Technology Inc. ("HashChain" or the "Company") (TSXV: KASH; OTCQB: HSSHF) is pleased to announce that today its management team opened the trading day for TSX Venture Exchange (TSXV).
"Opening the market is an excellent opportunity to reflect on the significant execution of the company's strategies and the accomplishments we have achieved since being listed on TSXV in December 2017," said Patrick Gray, CEO and Founder of HashChain. "We met our ambitious goals by aggressively expanding mining operations as well as growing the company beyond mining to include other important blockchain technologies like NODE40. By the end of February 2018, HashChain will have grown from 100 to 870 operational mining rigs across our Vancouver and Montana data centers, for a total of 1.3 megawatts (MW) of cryptocurrency mining in ideal conditions to maximize return on investment. The company also previously announced the signing of the definitive agreement with NODE40 to acquire 100% of NODE40 assets on January 30, 2018 and the parties are proceeding with closing the acquisition in the coming days. NODE40 provides masternode hosting as well as a software-as-a-service blockchain accounting solution, allowing coin holders to simply and accurately report all past transactions of Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dash. It is a step forward as we pivot from mining to a blockchain company."
Gray continues, "The company is poised to continue this momentum with the payment for an additional 3,000 rigs, expected to be operational in the coming months for a total of 5.8 MW of power devoted to mining by middle of this year. The company will also continue to explore new opportunities to diversify our investments in blockchain technology, as we have accomplished with the signing of the definitive agreement with NODE40."
About HashChain Technology Inc.
HashChain is a blockchain company, and the first publicly traded (TSXV:KASH: OTCQB: HSSHF) Canadian cryptocurrency mining company to file a final prospectus supporting highly scalable and flexible mining operations across all major cryptocurrencies. HashChain taps low-cost North American power, cool climate and high-speed Internet: the trifecta most critical to mining success, to create a competitive position for maximizing the number of mining 'wins.' HashChain currently operates 100 Dash mining Rigs, has received 770 Bitcoin Rigs, and has purchased an additional 3,000 Rigs. Once all Rigs are operational HashChain will be consuming approximately 5.8 megawatts of power. HashChain also acquired a Dash Masternode for approximately USD $280,000 which requires a collateral investment of 1,000 Dash coins. Diversifying their business strategy beyond crypto mining, the company recently signed a definitive agreement to acquire NODE40, a blockchain technology company that developed NODE40 Balance, a new SaaS product making cryptocurrency tax reporting simpler and more accurate. The solution allows cryptocurrency users and traders to accurately report their capital gains and losses. NODE40 is also one of the leading masternode server-hosting providers for the Dash network and is seeking additional alternate coin masternode hosting.
HashChain Mining is a wholly owned subsidiary of HashChain Technology Inc. based out of Albany, New York, with offices in Vancouver, British Columbia and Geneva, Switzerland.
On Behalf of the Board,
CEO & Director
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HashChain Technology Inc.
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding the acquisition by the Company of the NODE40 Business and GCPA (the "Transactions"), including the anticipated benefits to the Company of the Transactions, the performance of 5,000 Rigs ordered by the Company, the expected timing of delivery and installation of 770 Rigs and expectations regarding future operations may constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that all conditions to the closing of the Transactions will be satisfied, including receipt of all required approvals, and the Transactions will complete on the terms set out in the APA and the SPA, the acquisition of the NODE40 Business will have the benefits to the Company anticipated by management, the 5,000 Rigs will be successfully ordered and delivered, the 5,000 Rigs will perform as expected by management and the timing, installation and performance of the 770 Rigs will be consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, the risk that the conditions to the closing of the Transactions will not be satisfied, including the risk that required approvals are not obtained, and that the Transactions will not complete on the terms set out in the APA and the SPA or at all, the risk that the Transactions, if closed, will not result in the anticipated benefits to the Company; the risk that the 5,000 Rigs will not be successfully ordered from the manufacturer or, if so ordered, that the Rigs will not be delivered to the Company when expected by management or at all, the risk that the 5,000 Rigs will not perform as expected by management and the risk that the 770 Rigs will not be delivered to the Company or that the timing of the delivery and installation or the performance of the 770 Rigs will not be as expected by management. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
SOURCE HashChain Technology Inc.