Neptune Commences Bitcoin Mining Operations and Provides Corporate Update
Vancouver, British Columbia — (April 28, 2021) – NEPTUNE DIGITAL ASSETS CORP. (TSXV: NDA) (OTC: NPPTF) (FSE:1NW) (“Neptune” or the “Company”) is pleased to announce that Neptune’s initial purchase of 300 Bitmain S17 Bitcoin mining machines have landed in Calgary, Alberta, have been thoroughly tested and are now being installed within Link Global Technologies’ hosting facilities and will be generating a total hash rate of 15,512 Terahash per second (Th/s). The Company will provide further updates as to the machine economics over the coming weeks and as more machines are received and come online.
Neptune is also pleased to share these additional operational and financial highlights:
- Neptune is currently generating approximately $400,000 per month in staking earnings.
- Neptune’s balance sheet now has $53M in cash and digital assets.
- The Company now holds 91 BTC, 236 ETH, 139,800 ATOM, 2,042 DASH, 1,439,481 FTM, and smaller investments in LTC, BCH, Stellar, NEO, OMG, and QTUM.
- The Company’s initial investment of $250,000 in the Protocol Quant fund is now valued at $2.34M based on the Protocol Quant report on March 31, 2021.
- Neptune and Link Global have selected two potential sites for Pure Digital Power Corp. to build out it’s renewable powered Bitcoin mining facility.
- Neptune’s 50% owned Pure Digital Power Corp. has signed a non-binding LOI for up to 20 MW of solar power at fixed rate pricing.
Neptune’s President and Chief Executive Officer, Cale Moodie, commented: “We are thrilled to inform our shareholders that we have now commenced Bitcoin mining operations. We will push forward to expand our aggregate operating hash rate as mining rigs become available now that we are well capitalized to do so. We remind our shareholders that COVID-19 may impact the logistics and supply of mining units. We are also very pleased with the profits being generated in our proof-of-stake operations and will continue to grow and optimize that business segment.”
Neptune is also pleased to announce that it has granted stock options to certain directors, officers and employees of the Company to purchase an aggregate of 4.2M common shares pursuant to the Company’s share compensation plan with an exercise price of $1.03 per common share. The stock options are exercisable for 10 years from the date of grant.
About Neptune Digital Assets Corp.
Neptune Digital Assets aims to be a cryptocurrency leader with a diversified portfolio of investments and cryptocurrency operations across the digital asset ecosystem including bitcoin mining, tokens, proof-of-stake cryptocurrencies, decentralized finance (defi) and associated blockchain technologies.
ON BEHALF OF THE BOARD
Cale Moodie, President and CEO
Neptune Digital Assets Corp.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”, “proposes” or similar terminology. Forward-looking statements and information include, but are not limited to, the anticipated total hash rate of the S17 Bitcoin mining machines; the completion of Pure Digital Power Corp.’s renewable powered Bitcoin mining facility; the future scaling of the Company’s Bitcoin mining operations; the Company’s ability to grow and optimize its proof of stake operations; the Company’s future earnings and operating costs; the Company’s future growth in total assets; the Company’s strategy to purchase crypto currency and optimize its crypto portfolio; the Company’s ability effectively dollar cost average its purchases of crypto currency; and the future outlook of the crypto currency market generally. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the inherent risks involved in the cryptocurrency and general securities markets; the Company’s ability to successfully mine digital currency; revenue of the Company may not increase as currently anticipated, or at all; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
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