Terms of the License
In consideration for the License,
The closing of the License with Crypto Green is subject to the satisfaction of customary closing conditions for a transaction of this nature, the approval of the Canadian Securities Exchange, and the approval of the boards of directors of both
About Crypto Green
Crypto Green is a technology company focused on merging state-of-the-art technology with eco-friendly practices. By embedding renewable energy at the core of their innovations, Crypto Green is part of a global transition towards environmentally conscious digital solutions. Their patent pending Renewable Energy Powered Crypto Mining Technology uses a modular renewable energy-powered device that allows users to mine digital assets by generating electricity through a series of solar panels and wind turbines, all built in a way that maximizes efficiency in a fusion of sustainable green energy and decentralized finance.
In addition to digital asset mining, the Renewable Energy Powered Crypto Mining Technology can extend out to additional utilities such as charging electric cars and back-up power for residential housing. However, the Company believes that mining efficient crypto-mining algorithms will likely be the most profitable use of energy generated via the Technology’s innovative combination of wind turbines and solar panels. Subject to applicable regulatory regimes, as the Renewable Energy Powered Crypto Mining Technology generates energy via renewables, users may also be able to accrue carbon credits, which when monetized, could another revenue stream, thus further increasing bottom-line profitability.
Strategy Overview
CryptoBlox’s recent acquisition of
Cryptoblox’s acquisition of the License represents an effort to further diversify and scale its off-grid energy asset infrastructure, potentially enter the retail market and further develop hyper-modular digital asset mining farms where the Company could self-mine various digital assets using the Renewable Energy Powered Crypto Mining Technology. In addition, the Company intends to further optimize the Technology to make it more efficient and profitable through the implementation of alternative crypto mining algorithms.
“Taking this next step with Crypto Green comes at a pivotal moment for us as we look to revamp our off-grid mining capabilities to go beyond flared gas sites. We hope the License will mark the beginning of an incredible journey, one where we bring Crypto Green’s technology to as many people as possible in our journey towards a greener future” says
CryptoBlox’s investment into alternate energy powered off-grid mining infrastructure underlines its commitment to acquiring cheap energy for digital asset mining operations. Given the global energy crises and recent US emergency grid mandates [https://www.energy.gov/sites/default/files/2023-09/ERCOT%20202(c)%20Order.pdf], the Company also plans to scale through other acquisitions of stranded energy assets that provide cheap energy, reduce methane emissions and provide an alternative to on-grid energy and the associated intermediary risks.
“We at Crypto Green are extremely thrilled to announce this strategic partnership with
“Expanding our alternate energy infrastructure is one of our main focuses as we head into the next phase of digital asset adoption, with the speculated launch of Bitcoin Spot ETFs being a frontrunning catalyst along with the anticipated Bitcoin Halving Event (the “Halving”) that is coming up in
On behalf of the Company,
Chief Executive Officer
About
For further information about the Company, please visit https://www.cryptoblox.ca or call 236-259-0279.
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: the terms of the License, the closing of the License; the Company’s development and distribution of Renewable Energy Powered Crypto Mining Technology; the expected benefits to the Company resulting from the Patent Rights; the eventual granting of the patent to the Renewable Energy Powered Crypto Mining Technology; the ability of the Company to bring the Renewable Energy Powered Crypto Mining Technology to market; the Company's plans to expand its alternate energy powered off-grid digital asset mining operations; the uses and benefits of Crypto Green's technology; the Company’s entry into the retail market; the further optimization of the Renewable Energy Powered Crypto Mining Technology using alternative algorithms; future digital asset adoption; the speculated launch of the Bitcoin Spot ETFs; and energy efficiencies associated with the Renewable Energy Powered Crypto Mining Technology and flared gas power. 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 Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.
Source:
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