VANCOUVER, BC, CANADA, MARCH 31, 2020, LINK GLOBAL TECHNOLOGIES INC. (CSE: LNK; FRA: LGT; OTC: LGLOF) (“LINK” or the “Company”) is pleased to provide an update on operations and its developments with respect to the LINK 50 MW Smart Mining project.
LINK’s recent and anticipated near-term activities include:
· Completed placement of the Company’s first Megawatt (“MW”) mobile mining container at its new Alberta site, which is being connected to the onsite power facility and communications network (each container is expected to allow approximately 20,000 terahash of computing power using new generation machines)
· By end of April 2020
- Three MW of power to be made operational
- Planned generation of 54,000 terahash of computing power, or approximately 1 Bitcoin per day equivalent **
· By end of May 2020:
- 6 MW of power to be made operational
- Planned generation of 108,000 terahash of computing power, or approximately 2 Bitcoin per day equivalent **
· By end of July 2020:
- An additional 15 MW of power to be made operational, for a total combined effort of 21 MW
- Planned generation of 378,000 terahash of computing power, or approximately 7 Bitcoin per day equivalent **
** calculated using today’s earning potential
“We are currently moving our operations from a good economic location in Oregon to one with excellent economics for the Company, which is expected to provide power costs at a fraction of what the Company has been paying to date”, states President and CEO, Stephen Jenkins. “Our focus is building up infrastructure as quickly and as cost effectively as possible, and we plan to use every Kilowatt of power for mining operations and hosting. Inlight of the upcoming halving of Bitcoin rewards expected in May 2020, in order to continue to be profitable we knew we would need to be aggressive in finding new sites with lower prices for power, and constructing our own brand of mobile mining containers. Once our new sites in Alberta are operational, which we anticipate by end of April, we plan to offer SMART mining, a product not before seen in the marketplace. We are excited to pursue these endeavors with our highly skilled team and previously announced strategic partners.”
Mr. Jenkins added “Currently we are not being affected by the logistical and workforce challenges confronting many companies as a result of the coronavirus. Our team already works remotely, so there was very little transition to do in order to ensure business continuity.”
About Link Global Technologies Inc.
Link is engaged in the business of providing infrastructure and operating expertise for digital mining 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 energy and infrastructure for other data-hosting services.
On behalf of Link Global Technologies Inc.
For more information visit http://linkglobal.io/ or 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 relate to: the supply of, and access to, specified levels of power and electricity; the Company’s ability to make available all usable power for the purpose of digital currency mining; the Company’s ability to secure low cost and usable power for the purpose of digital currency mining; projected generation of computing power; the Company’s ability to mine a certain amount of Bitcoin,or at all; and other matters relating to the Company’s business plans.
All such forward-looking statements are based on the reasonable beliefs, expectations and opinions of the relevant management as of the date such statements are made; and are subject to risks, uncertainties,assumptions and other factors that may cause actual results, performance or developments to differ materially from those contained in the statements,including risks related to factors beyond the control of the Company. In the case of the Company, these risks, uncertainties, assumptions and other factors include, without limitation, 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, the effects of general economic and other factors beyond the control of the Company, and other matters that may occur in the future. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise,except as required by law.
For a complete discussion with respect to the Company and the risks associated with forward-looking statements, please refer to the Company’s financial statements and related MD&A, as well as other documents filed from time to time with the Canadian Securities Exchange, the British Columbia Securities Commission and that Alberta Securities Commission, which are filed on SEDAR at www.sedar.com.