LGLOF - Link Global Technologies Updates Latest 10-Megawatt Bitcoin Mining Site Expected to Contribute an Additional CAD $325000 in Revenue Per Month
(TheNewswire)
VANCOUVER, BC, CANADA - TheNewswire - January 3 , 2021 - LINK GLOBAL TECHNOLOGIES INC.(CSE:LNK ) (CNSX:LNK.CN) ( FRA:LGT ) ( OTC:LGLOF) (“LINK” or the “Company”), an innovativepower and infrastructure solutions provider for Bitcoin mining anddata hosting operations, is pleased to provide an update on its third,10-Megawatt (MW) power facility in Alberta.
This new 10 MW power facility is part of an ongoingagreement with Block One Technologies (announced in a press releasedated November 25, 2020 ) whereby Link is supplying Block One with 10 MW ofelectrical power for an initial term of one year, at an agreed-uponrate calculated in Canadian dollars per kilowatt-hour
Link is supplying clean-energy solutions by generatingpower from dormant and stranded natural gas assets, reducing methaneemissions while also generating electricity. This latest 10 MW ofpower can generate more than 2.5 Bitcoin per day at the currentdifficulty level with 3,500 new generation miners.
With the anticipated commissioning of the new siteexpected to be completed in January, this new 10 MW site is expectedto contribute USD$325,000 per month in revenue for Link. The Company plans on continuing its rapid development of digital currency miningsites in 2021, and will be expanding its self-mining inventory.
Link President and Chief Executive Officer, StephenJenkins comments, “This has been a developmental year and is a majorinflection point for the Company. This new power facility showcasesLink’s ability to scale and grow its revenues, while also giving usthe ability to serve more clients. We are thrilled with our team’sdedication and commitment in keeping our development goals on track.Our Bitcoin mining operations are rapidly evolving and with theincreasing price of Bitcoin, we are encouraged by the strong demandfor our services and increasing interest from new partners andopportunities to grow our self-mining operations.”
About Block One TechnologyInc.
Block One Technology, Inc. is built upon ourfounders’ five years of experience establishing, optimizing, anddeveloping efficient and secure turnkey crypto mining facilities inmultiple jurisdictions for individuals and institutions. profitabilityand ensures uninterrupted operations.
About Link Global TechnologiesInc.
Link is engaged in the business of providinginfrastructure and operating expertise for digital mining and datahosting operations. Link's objectives include locating and securing,for lease and option to purchase, properties with access to low-costreliable power, and deploying this low-cost power to conduct digitalmining and supply clean energy and infrastructure for otherdata-hosting services.
On behalf of Link Global Technologies Inc.
Stephen Jenkins
Chief Executive Officer & Director
For more information visit http://linkglobal.io/ orcontact:
Steve Jenkins
stephen@linkglobal.io
+1-877-770-6545
Investors please contact:
info@linkglobal.io
+1-833-707-8708
The CSE has not reviewed and does not acceptresponsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDINGFORWARD-LOOKING INFORMATION. This news releasecontains “forward-looking statements” within the meaning ofapplicable Canadian securities legislation. Forward-looking statementsconsist of statements that are not purely historical and include anystatements regarding beliefs, plans, expectations or intentionsregarding the future. Often, but not always, forward-lookingstatements 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 (includingnegative variations) of such words and phrases, or statements thatcertain actions, events or results “may”, “would”,“could”, “should” or “might” occur. Forward-lookingstatements made in this news release include, but are not limited, to:statements with respect to the Agreement and the terms and potentialbenefits thereof; that the parties will enter into the definitivepartnership agreement and the terms thereof, including the timelinefor same; that Link’s significant expertise in internationalprojects and government relationships will assist the development ofthese projects; and that the initiatives are slated to beginimplementation in fiscal Q1 2021. All such forward-looking statementsare based on factors or assumptions that were applied in drawing aconclusion or making a forecast or projection, including assumptionsbased on historical trends, current conditions and expected futuredevelopments. Since forward-looking statements relate to future eventsand conditions, by their very nature they require making assumptionsand involve inherent risks and uncertainties. The Company cautionsthat although it is believed that the assumptions are reasonable inthe circumstances, these risks and uncertainties give rise to thepossibility that actual results may differ materially from theexpectations set out in the forward-looking statements. In the caseof the Company, these risks, uncertainties, assumptions and otherfactors include, without limitation: that the parties may not enterinto a definitive partnership agreement at all or on the termsannounced; that actual results from the partnership may differmaterially from the parties’ expectations; those set out in theCompany’s most recent MD&A, fluctuations in the price ofelectricity, fluctuations in the price of digital currencies/Bitcoin,the future potential halving of Bitcoin, increases in the networkdifficulty rate and price of digital currencies/Bitcoin, negativechanges in the level of digital currency/Bitcoin rewards per block, the securing of economic rates for the purchaseof power, the opportunities for acquiring digital currency mininghardware, unanticipated changes in laws, regulations or other industrystandards affecting the business of the Company, reliance on keymanagement personnel, the Company’s ability to implement itsbusiness plan, litigation risk, stock price volatility, the effects ofgeneral 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-lookingstatements, which apply only as of the date hereof. Other than asspecifically required by law, the Company undertakes no obligation toupdate any forward-looking statements to reflect new information,subsequent or otherwise.
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