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Vancouver, British Columbia--(Newsfile Corp. - July 20, 2021) - iMining Blockchain and Cryptocurrency Inc. (TSXV: IMIN) (FSE: P1A) (the "Company" or "iMining") is pleased to announce that it has entered into a colocation agreement with Fibre Centre Facilities Ltd. ("Fibre Centre").
Fibre Centre is a private corporation headquartered in Moncton, New Brunswick that operates a telecommunications facility as one of Canada's main carrier hotels and data centres hosting major global, national and regional carrier networks in Tier III grade facilities. Located in the Atlantic Canadian region, Fibre Centre is strategically positioned between major markets in North America and Europe, with direct fibre routes to London, Paris, Frankfurt, Boston, New York, Toronto and other major cities.
With the colocation agreement with Fibre Centre, iMining will take advantage of the mission critical colocation space, competitive power and direct access to core Internet backbones such as the largest global carrier's carrier ISP - Hurricane Electric, positioning iMining at the forefront of blockchain and AI technology growth as a dedicated physical infrastructure and cloud platform provider. iMining is deploying its own global fibre based private network, not accessible from public Internet, which will be the first in the market to offer unprecedented security and stability to the digital currencies' transactions between major global markets and private cloud customers.
iMining and Fibre Centre are currently in discussions on securing a 100MW capacity immediately and looking toward to potentially securing over 300MW next year to accommodate rapid growth of the iMining blockchain infrastructure and services.
"We praise iMining's leadership for the visionary approach to the cutting-edge technologies' progress. Blockchain and AI are built to move data over IP and their very existence is based on the Internet. Nevertheless, not many people realize, despite the example of all large and medium "traditional" web companies including cloud platforms, that it is crucial how your infrastructure enters the Information Highway, whether in a beat-up station wagon on a dirt road, or in a Ferrari on an Autobahn. Fibre Centre is proud to be the first carrier hotel in North America to accommodate digital assets industry leaders like iMining, offering both competitive high-power hosting services and a direct on-ramp to core global Internet backbones and dark and lit fibre infrastructure", said Uri Litvinenko, CEO of Fibre Centre.
"We are very excited to work with one of Canada's key carrier hotels providing us with the direct access to the core Internet backbone and a robust hosting site with cost effective power for digital currencies staking and mining," said Khurram Shroff, Chairman and CEO of iMining. "In addition, Fibre Centre will enable iMining's private, secure network to move digital assets globally with best possible speeds over major global fibre optic networks."
About iMining Blockchain and Cryptocurrency Inc.
iMining Blockchain and Cryptocurrency Inc. is a growth oriented, TSXV listed company, focused on linking traditional capital markets with blockchain investment opportunities. Through its wholly owned subsidiaries, the company provides retail and institutional investors a safe and secure way to stake, mine and exchange digital assets using proprietary and secure solutions. We are driven by our core values to operate with transparency, efficiency, and sustainability as we work toward building long-term shareholder value.
ON BEHALF OF THE BOARD
Signed "Khurram Shroff"
Khurram Shroff, Chairman, President & Chief Executive Officer
FOR FURTHER INFORMATION, please contact:
iMining Corporate Offices:
Robert Eadie, Director
Telephone: 1-604-602-4935 ♦ Facsimile: 1-604-602-4936
Toll Free: 1-866-602-4935
Evan Eadie, Corporate Development
Telephone: (604) 602-4935 ext. 203
Toll Free: 1-866-602-4935
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements, which relate to future events or future performance (including, but not limited to, future business operations with Fibre Centre) and reflect management's current expectations and assumptions, and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of activities, future cryptocurrency prices, operating risks, and other risks in the cryptocurrency industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90660