In
In addition, through a subsidiary, the Company continues to make progress on its expansion of operations in
Self-Mining Operations
- As at
April 5, 2022 , the Company had received and deployed at its award-winning data centre facilities inUtah, USA , 300 of the 600 high performance ASIC miners previously announced onSeptember 24, 2021 , representing an additional self-mining Hashrate of 26.48 PH/s. - As at
April 5, 2022 , the Company has an aggregate self-mining Hashrate of 78.8 PH/s from ASIC miners and 121,944 MH/s from GPU miners running at its data centres. - The 78.8 PH/s and 121,944 MH/s of existing self-mining Hashrate currently contributes
USD$674,342.98 per month in self-mining revenue forCryptoStar . (Source: https://whattomine.com/ Mining metrics are calculated based on a BTC - USD exchange rate of 1 BTC =$46,609.30 and ETH - USD exchange rate of 1 ETH =$3,515.04 updated at 2022-04-0511:07:26 UTC ). - The previously announced purchase of 600 high performance ASIC miners to be delivered in 6 equal tranches of 100 miners during calendar 2022 commencing in
January 2022 and ending inJune 2022 , continue to be delivered with three deliveries remaining. This will increase the Company's self-mining Hashrate from ASIC miners by a further 8.8 PH/s each delivery month. - The Company anticipates that it will redeploy the remaining self-mining Hashrate of 11.6 PH/s from ASIC miners and 54,826 MH/s from GPU miners that were previously running in
Alberta, Canada as expeditiously as possible in Q2, 2022.
- As at
April 5, 2022 , the Company has Equipment Hosting Agreements for an aggregate mining capacity of 12 MW located at its award-winning data centre facilities inUtah, USA , contributing annual hosting revenues for the Company ofUSD$1.7 million .
- The Company continues to perform diligence on the potential power supply agreement with a
Kansas -based energy company as previously announced onFebruary 10, 2022 .
- The natural gas power generation site of 611890
Alberta Inc. DBA Avila Energy (the "Alberta Partner ") remains shut down. Litigation against the Alberta Partner et al. is ongoing with respect to the non-compliance with terms of the power supply agreement for up to 30 MW and damages arising therefrom.
- The Company plans to continue to further expand its self-mining inventory of mining hardware. Additional ASIC miners have been ordered for delivery in Q2, 2022 and further orders for mining hardware will be placed using astute capital management strategies based upon prevailing market conditions for delivery in Q2, 2022 and beyond.
- The Company plans to continue to further expand its data centre operations in
North America by partnering with large cryptocurrency miners seeking operating locations inNorth America . The Company continues to consider and perform diligence on several potential transactions and opportunities.
- The Company is in a strong financial position and is well capitalized.
- As at
April 5, 2022 , the Company held 538.38 ETH, 86.72 BTC andUSD$2.7 million (CAD$3.4 million ) in cash. - Additionally, the Company has made payments and deposits for ASIC miners, buildings and infrastructure equipment of
USD$4.9 million (CAD$6.2 million ).
www.cryptostar.com
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