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,
Patrick Gray
CEO & Director
For Further information please contact:
HashChain Technology Inc.
Larry Heinzlmeir
Vice President, Marketing & Communications
Larry@HashChain.ca
604-537-8676
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.
