- Oops!Something went wrong.Please try again later.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESSWIRE / February 10, 2021 / LINK GLOBAL TECHNOLOGIES INC. (CSE:LNK)(FRA:LGT)(OTC PINK:LGLOF) ("LINK" or the "Company"), an innovative power and infrastructure solutions provider for Bitcoin mining and data hosting operations, is pleased to provide an update on its Bitcoin mining operations.
In a cooperative effort between LINK and Bit Digital Inc. ("Bit Digital") (BTBT), a Nasdaq-listed Bitcoin mining company, signed on February 6, 2021, the Company is preparing to receive 1,000 miners, owned by Bit Digital, where LINK will provide the infrastructure and support for the mining equipment, while offering very competitive rates for power and receive a net profit share on net Bitcoin (BTC) earnings. Stephen Jenkins, President and CEO says, "this is the best model for both parties as the incentive to minimize costs and maximize performance is rewarded on both sides of the ledger." Jenkins went on to say that, "the two companies have reviewed different models and, in the end, came up with this model to provide what is planned to be the first phase of a larger hosting plan for Bit Digital in Canada."
The 1,000 BitMain S17+ miners represent approximately 73 Petahash and with current difficulty results in just under one-half BTC per day. The power and net revenue model is consistent with LINK's plans and the Company will apply this model to more sites thus lowering cap ex needs and, while enjoying the upside of BTC price increases. The machines are scheduled to arrive by late February, and will be deployed at one of the three sites operated by LINK in Canada. With the addition of these Bitcoin miners, Link will now have a total of 1,400 miners under net profit sharing arrangements, ranging from 15% to 20%.
About Link Global Technologies Inc.
Link is engaged in providing infrastructure and operating expertise for digital mining and data hosting operations. Link's objectives include locating and securing, for lease and option to purchase, properties with access to low-cost, reliable power, and deploying this low-cost power to conduct digital mining and supply clean energy and infrastructure for other data-hosting services.
On behalf of Link Global Technologies Inc.
Chief Executive Officer & Director
For more information visit http://linkglobal.io/ or contact:
For investor information please contact:
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION. This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements consist of statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "forecast", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes", or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "would", "could", "should" or "might" occur. Forward-looking statements made in this news release include, but are not limited, to: statements with respect to the agreement between LINK and the Nasdaq-listed Bitcoin mining company, including the terms and potential benefits thereof; including the timeline for same. All such forward-looking statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. The Company cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. In the case of the Company, these risks, uncertainties, assumptions and other factors include, without limitation: that actual results from the agreement between LINK and the Nasdaq-listed Bitcoin mining company may differ materially from the parties' expectations; those set out in the Company's most recent MD&A, fluctuations in the price of electricity, fluctuations in the price of digital currencies/Bitcoin, the future potential halving of Bitcoin, increases in the network difficulty rate and price of digital currencies/Bitcoin, negative changes in the level of digital currency/Bitcoin rewards per block, the securing of economic rates for the purchase of power, the opportunities for acquiring digital currency mining hardware, unanticipated changes in laws, regulations or other industry standards affecting the business of the Company, reliance on key management personnel, the Company's ability to implement its business plan, litigation risk, stock price volatility, the effects of general economic and other factors beyond the control of the Company, and other matters that may occur in the future. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of the date hereof. Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise.
SOURCE: Link Global Technologies Inc.
View source version on accesswire.com: