(All dollar amounts are in Canadian dollars unless otherwise noted)
Vancouver, British Columbia – August 26, 2021 – Neptune Digital Assets Corp. (TSX-V: NDA) (OTC: NPPTF) (FWB: 1NW) (“Neptune” or the “Company”), a leading cryptocurrency company in Canada, is pleased to announce that the latest, March 7, July 2021, announced delivery of two hundred new Antminer S19 Pro next-generation Bitcoin ASIC mining machines has arrived in the United States and will be securely stored pending delivery to the company’s Bitcoin mining facility.
“We are very satisfied with the timing of this current purchase, as the prices for mining machines have risen significantly since we placed our order. This will increase our existing capacity of 12,000 TH / s (Total Hash Rate / sec = computing power) by a further 22,000 TH / s increase and we look forward to working with Luxor and our US partners to get these new bitcoin mining machines up and running as soon as possible. We will continue to source the best machines at competitive prices and our bitcoin mining Carefully and strategically develop operations with market forces in mind, “said Neptune CEO Cale Moodie. “As already mentioned, the COVID-19 pandemic is still having an impact on logistics and the supply of mining machines and we are working closely with our partners to optimize processes and reduce costs.”
At the time of this press release and at current cryptocurrency prices, Neptune Digital has total assets of approximately $ 54 million and monthly revenues of $ 505,000. The company currently has no debt and no significant liabilities.
About Neptune Digital Assets Corp.
Neptune Digital Assets (TSX-V: NDA) is one of the first publicly traded blockchain companies in Canada and a leading cryptocurrency company with diversified assets and cryptocurrency operations across the digital asset ecosystem including bitcoin mining, tokens, proof-of-stake cryptocurrencies , decentralized finance (DeFi) and related blockchain technologies.
FOR THE BOARD:
Cale Moodie, President & CEO
Neptune Digital Assets Corp.
The TSX Venture Exchange and its regulatory bodies (referred to as the Regulation Services Provider in the Articles of Association of the TSX Venture Exchange) accept no responsibility for the adequacy or accuracy of this release.
This press release contains certain “forward-looking statements” and “forward-looking information” under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terms such as “might,” “will,” “expect,” “intend,” “estimate,” “project,” “believe,” “continue,” ” plan, “propose,” or similar expressions. Forward-looking statements and information include, but are not limited to, the future production rate of the Company’s bitcoin mining machines and the anticipated timing thereof; the anticipated timing of the company’s new bitcoin mining machines going live; the company’s future ability to source the best bitcoin mining machines at competitive prices; the impact of the COVID-19 pandemic on logistics and miner supplies; the company’s ability to work with its partners to maximize the speed and reduce the cost of supplying bitcoin mining machines; the income from the company’s mining and staking operations; the future scale of the company’s bitcoin mining operations; and the future prospects of the cryptocurrency market in general. Forward-looking statements and information are based on projections of future results, estimates of amounts that cannot yet be determined, and assumptions that are subject to significant business, economic and competitive uncertainties and contingencies, even if management believes them to be reasonable. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which the company cannot control or predict, which could cause the company’s actual results, performance or success to differ materially from those expressly or implicitly expressed and are based on assumptions about such risks, uncertainties and other factors as described herein. These include, but are not limited to, the risks associated with the cryptocurrency and general securities markets; the company’s ability to successfully mine digital currencies; the possibility that the Company’s sales will not increase as currently expected or increase at all; a drop in the prices of digital currencies that could have a very negative impact on the company’s operations; the volatility of the prices of digital currencies; Uncertainties related to the availability and cost of future funding required; the uncertainty of production and cost estimates and the potential for unexpected costs and expenses; Currency fluctuations; regulatory restrictions; Liabilities; Competition; the loss of key personnel; and other related risks and uncertainties. The company has no obligation to update any forward-looking information unless required by law. Such forward-looking information reflects management’s views based on information currently available. Forward-looking statements are not guarantees and actual future results could differ materially from these. Readers are cautioned not to rely on forward-looking statements or information in their investments.
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