GLOBAL BLOCKCHAIN TECHNOLOGIES CORP. (TSX-V: BLOC) has announced that its subsidiary, Global Blockchain Mining Corp., has agreed to purchase 6,666 Antminer S9s from Bitmain Technologies Limited, a privately-owned multinational semiconductor company headquartered in Beijing, China, for a total purchase price of US$20,000,000. The estimated delivery of these units is March 2018.
Shidan Gouran, President of GBT stated, “The S9 has established itself as the pre-eminent bitcoin mining machine today. It is clear from demand at the commercial and investment levels that these machines are highly coveted and sought after. GBT’s network of global relationships have enabled and allowed the Company to procure a significant and critical mass shipment of Antminers in a relatively protracted timeframe. The Company feels that this equipment investment will provide a variety of options to monetize its investment in a rapid manner, all of which will be evaluated fully as time progresses.”
The Company is acquiring the equipment for investment purposes and will not be undertaking any direct cryptocurrency mining operations. Further to the Company’s news release dated December 12, 2017, Coinstream Mining Corp. has agreed to accept a number of Antminer’s, to be negotiated in the definitive agreement between the parties, in satisfaction of the Company’s US $10 million investment commitment. Cryptoba Corp. has also agreed to accept such equipment in satisfaction of Coinstream’s US $10 million investment commitment pursuant to their proposed streaming agreement with Coinstream. Both transactions remain subject to the negotiation and execution of definitive agreements.
About Global Blockchain Technologies Corp.
Global Blockchain Technologies Corp. is an investment company which proposes to provide investors access to a basket of holdings within the blockchain space, managed by a team of industry pioneers and early adopters of all major cryptocurrencies.