Despite Recent Market Challenges, This Canadian Company Is Poised To Profit In 2023
The latest news to come from (CNSX:BLOX) CryptoBlox indicates that the company has diversified its business strategy to not only include power assets, but also to design and sell the latest immersive mining technology.
Recent News:
CryptoBlox to Acquire Digital Mining Infrastructure Company
CryptoTherm Designs, Manufactures and Sells One of the World’s Most Advanced Crypto Mining Systems Based on Immersion Cooling and Thermal Heat Exchange Technology.
Vancouver, B.C, January 20, 2023 – CryptoBlox Technologies Inc. (the “Company” or “CryptoBlox”) (CSE: BLOX) is pleased to announce that it has entered into an arm’s length definitive share purchase agreement (the “Agreement”), dated January 17, 2023, with CryptoTherm (defined herein) and 1289048 B.C. Ltd. (the “Vendor”) to acquire (the “Acquisition”) from the Vendor 100% of the outstanding shares of CryptoTherm Manufacturing Inc. (“CryptoTherm”).
About CryptoTherm
CryptoTherm specializes in designing and building liquid-cooled data centers and advanced heat recapture products. These data centers are specifically designed for cryptocurrency mining, allowing for maximum efficiency and cost-effectiveness.
CryptoTherm’s advanced heat recapture products are innovative solutions that capture and reuse the heat generated during the mining process. This helps to reduce energy costs and minimize the environmental impact of mining operations.
CryptoTherm’s team has a deep understanding of the challenges and opportunities in the digital currency industry and is dedicated to helping its customers succeed. In this, CryptoTherm’s products and services are designed to minimize clients’ start-up costs, downtime and operational expenses.
Integration into CryptoBlox
The Company will use CryptoTherm’s industry leading immersion cooling and thermal heat exchange technology as it grows its digital currency blockchain division. The Company will also allocate resources to grow CryptoTherm’s business of selling immersion pods, ASIC miners, cryptovaults and cooling immersion fluids.
This strategic acquisition is a continuation of the Company’s focus on its digital currency division and follows other strategic investments such as the Company’s investment in Optimal CP, Inc. The Company’s goal is to become a significant player in the digital currency space and further solidify its position in the industry.
“I am thrilled with this agreement with CryptoBlox,” stated Austin Bank, CEO of CryptoTherm. “This acquisition will allow us to join forces and leverage our complementary strengths to achieve even greater success. I am confident that together, we will be able to explore new opportunities and unlock the full potential of our combined expertise and resources. I am excited for the future possibilities that this acquisition brings and look forward to working with the talented team at CryptoBlox to drive innovation and growth in the digital currency industry,” added Mr. Bank.
The Acquisition will involve the issuance of 400 million common shares of the Company (the “Consideration Shares”) at a deemed price of $0.05 per common share to the Vendor in exchange for all of the outstanding common shares of CryptoTherm, for a deemed transaction value of $20,000,000. 320 million of the Consideration Shares will be subject to restrictions (the “Restrictions”) on trading expiring as follows: 10% 12 months from closing; 10% 24 months from closing; 20% 36 months from closing; 20% 48 months from closing; and 40% 60 months from closing. The Consideration Shares will be issued pursuant to s. 2.16 (take-over bid and issuer bid) of National Instrument 45-106 Prospectus Exemptions. The Company does not consider that the Acquisition will be considered a Fundamental Change of the Company (as defined in Policy 8 Fundamental Changes & Changes of Business of the Canadian Securities Exchange (the “CSE”)). Upon completion of the Acquisition, the principal of the Vendor is expected to become a reporting insider (as defined in National Instrument 55-104 Insider Reporting Requirements and Exemptions) of the Company.
“This is one of our most exciting investments and our most strategic acquisition to date,” stated Bryson Goodwin, CEO of CryptoBlox.
“We highlight the following:
Given CryptoTherm is an operating business, the Acquisition is expected to immediately add revenue to CryptoBlox;
The deemed share value of $0.05 highlights CryptoTherm’s confidence in the fundamental value of CryptoBlox;
CryptoTherm’s immersion cooling technology will strengthen our intellectual property position within the digital currency market; and
The conservative and long-term Restrictions reflect the intention of CryptoTherm’s team, who will become significant shareholders of CryptoBlox, to build long-term value at CryptoBlox.
We believe the Acquisition will allow us to significantly grow our digital currency blockchain division and unlock the incredible value of CryptoTherm,” concluded Mr. Goodwin.
Completion of the Acquisition is subject to customary conditions precedent, including completion of a formal valuation respecting CryptoTherm, board approvals and approval of the CSE.
On behalf of the Company,
Bryson Goodwin, Chief Executive Officer
Contact Numbers and Emails
For further information about the Company, please visit https://www.cryptoblox.ca For Investor Inquiries, please contact (236) 259-0279 or email info@cryptoblox.ca
Forward-Looking Statements
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to risks and uncertainties. Forward Looking statements in this news release include, but are not limited to,statements respecting: completion of the Acquisition; and the expected benefits to the Company and CryptoTherm from the Acquisition. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release
Large Scale Immersion Mining Incoming
Traditional aircooled crypto mining farms are energy intensive and heat generating. Miners are faced with many challenges, reducing heat while maintaining performance is often the primary challenge and can be one of the biggest problems for crypto mining operators.
The overarching aim in cooling mining rigs is to provide the least expensive and most efficient cooling system. “Air-cooled” Bitcoin mining is the traditional and simple method of managing the heating and cooling of one’s mining rigs with ventilation fans and ordinary, atmospheric air.
Air cooled systems often create dust particles that become trapped in the mining rigs causing overheating, the inability to reduce heat effectively leads to a decrease in hash rate, lower power efficiency, increased maintenance and a reduced lifespan of mining rigs. All of these factors contribute to a reduction in the bottom line for operators and investors alike.
Immersion cooling has become a hot topic among crypto mining enthusiasts and large-scale operators and for good reason.
Pros:
Increased efficiency: Immersion cooling can significantly increase the efficiency of crypto mining, as it can remove heat from the computer equipment more effectively than traditional air cooling methods.
This can allow the equipment to operate at higher speeds and with fewer breakdowns, resulting in more mining power and higher profits.
Reduced costs: Immersion cooling can reduce the costs of crypto mining by reducing the need for energy-intensive air conditioning and by extending the lifespan of the computer equipment.
Cons:
Complex technology: Immersion cooling requires specialized equipment and expertise to set up and maintain, which can be expensive and difficult to implement.
Safety risks: Immersion cooling can be hazardous, as the liquid coolant used can be toxic and flammable, and the equipment submerged in it can be dangerous if not handled properly.
Limited applicability: Immersion cooling may not be suitable for certain types of computer equipment or in certain environments, such as humid or high-altitude locations.
While it is true that the compound annual growth rate of the crypto mining industry can vary depending on the time period and the specific data used., some leading analysts expect the crypto mining industry to grow at a significant CAGR from 2020 to 2025. The factors that are driving the crypto mining market are increasing adoption of cryptocurrency, rising investment in blockchain technology, and growing interest in mining from institutional investors.
The unique value in Cryptoblox Technologies Inc. is the pick and shovel nature of the company. BLOX has anticipated gaps in the crypto mining industry, and continues to provide technological advancements that reduce cost while increasing production.
It’s unequivocal that the cryptocurrency mining industry will continue to grow, despite the difficulties that came with 2022. Systems like Crypto Therm’s cooling technology protects equipment and allows miners to operate at a maximum hashrate. As mining systems evolve, companies like BLOX will always hold value as their technology will remain integral to the continued productivity and expansion of cryptocurrency mining.
Alistair Milne, founder of Altana Digital Currency Fund, is predicting Bitcoin’s price will surge to $45,000 depending on what happens with inflation.
At the time of this writing, January 25, 2023, Bitcoin remains bullish, maintaining its upward trajectory as it revisits $23K.
Disclaimer
Digital Marketing Agency of Record: Globull Technologies Corp., (“GloBull”).
1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.
2) The Article was issued on behalf of and sponsored by CryptoBlox Technologies Inc.GloBull, has or expects to receive from CryptoBlox Technologies Inc. ZERO COMPENSATION for 30 days (22 BUSINESS DAYS).
3) Statements and opinions expressed are the opinions of the author and not GloBull, its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by GloBull for this Article. GloBull was not paid by the author to publish or syndicate this Article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. GloBull requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. GloBull, relies upon the authors to accurately provide this information and GloBull, has no means of verifying its accuracy.
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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding CryptoBlox Technologies Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements.
These forward-looking statements include, among other things, statements relating to:
(a) revenue generating potential with respect to CryptoBlox Technologies Inc.’s industry;
(b) market opportunity;
(c) CryptoBlox Technologies Inc.’s business plans and strategies;
(d) services that CryptoBlox Technologies Inc. intends to offer;
(e) CryptoBlox Technologies Inc.’s milestone projections and targets;
(f) CryptoBlox Technologies Inc.’s expectations regarding receipt of approval for regulatory applications;
(g) CryptoBlox Technologies Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and
(h) CryptoBlox Technologies Inc.’s expectations regarding its ability to deliver shareholder value.
Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about:
(a) the ability to raise any necessary additional capital on reasonable terms to execute CryptoBlox Technologies Inc.’s business plan;
(b) that general business and economic conditions will not change in a material adverse manner;
(c) CryptoBlox Technologies Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis;
(d) CryptoBlox Technologies Inc.’s ability to enter into contractual arrangements with additional Pharmacies;
(e) the accuracy of budgeted costs and expenditures;
(f) CryptoBlox Technologies Inc.’s ability to attract and retain skilled personnel;
(g) political and regulatory stability;
(h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms;
(i) changes in applicable legislation;
(j) stability in financial and capital markets; and
(k) expectations regarding the level of disruption as a result of CV-19.
Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance, or achievements of CryptoBlox Technologies Inc. to be materially different from any future plans, intentions, activities, results, performance, or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation:
(a) CryptoBlox Technologies Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations;
(b) public health crises such as CV-19 may adversely impact CryptoBlox Technologies Inc.’s business;
(c) the volatility of global capital markets;
(d) political instability and changes to the regulations governing CryptoBlox Technologies Inc.’s business operations
(e) CryptoBlox Technologies Inc. may be unable to implement its growth strategy; and
(f) increased competition.
Except as required by law, CryptoBlox Technologies Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does CryptoBlox Technologies Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency, or completeness of the information in this document. Neither CryptoBlox Technologies Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of CryptoBlox Technologies Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of CryptoBlox Technologies Inc. or such entities and are not necessarily indicative of future performance of CryptoBlox Technologies Inc. or such entities.
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