VANCOUVER, BC, CANADA - TheNewswire - January 4, 2021 - LINK GLOBAL TECHNOLOGIES INC. LNK LNK (FRA:LGT) 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 third, 10-Megawatt (MW) power facility in Alberta.
This new 10 MW power facility is part of an ongoing agreement with Block One Technologies (announced in a press release dated November 25, 2020) whereby Link is supplying Block One with 10 MW of electrical power for an initial term of one year, at an agreed-upon rate calculated in Canadian dollars per kilowatt-hour
Link is supplying clean-energy solutions by generating power from dormant and stranded natural gas assets, reducing methane emissions while also generating electricity. This latest 10 MW of power can generate more than 2.5 Bitcoin per day at the current difficulty level with 3,500 new generation miners.
With the anticipated commissioning of the new site expected to be completed in January, this new 10 MW site is expected to contribute USD$325,000 per month in revenue for Link. The Company plans on continuing its rapid development of digital currency mining sites in 2021, and will be expanding its self-mining inventory.
Link President and Chief Executive Officer, Stephen Jenkins comments, "This has been a developmental year and is a major inflection point for the Company. This new power facility showcases Link's ability to scale and grow its revenues, while also giving us the ability to serve more clients. We are thrilled with our team's dedication and commitment in keeping our development goals on track. Our Bitcoin mining operations are rapidly evolving and with the increasing price of Bitcoin, we are encouraged by the strong demand for our services and increasing interest from new partners and opportunities to grow our self-mining operations."
About Block One Technology Inc.
Block One Technology, Inc. is built upon our founders' five years of experience establishing, optimizing, and developing efficient and secure turnkey crypto mining facilities in multiple jurisdictions for individuals and institutions. profitability and ensures uninterrupted operations.
About Link Global Technologies Inc.
Link is engaged in the business of 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.
Stephen Jenkins
Chief Executive Officer & Director
For more information visit http://linkglobal.io/ or contact:
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 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 and the terms and potential benefits thereof; that the parties will enter into the definitive partnership agreement and the terms thereof, including the timeline for same; that Link's significant expertise in international projects and government relationships will assist the development of these projects; and that the initiatives are slated to begin implementation in fiscal Q1 2021. 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 the parties may not enter into a definitive partnership agreement at all or on the terms announced; that actual results from the partnership 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.
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