VANCOUVER, BC / ACCESSWIRE / June 27, 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 announce that the Company has entered into a strategic co-mining agreement (the "Agreement") with Atlas Mining Investments Ltd. ("Atlas").
Highlights:
- Signed agreement for 40MW turnkey solution for hosting 12,000 of Atlas Mining's latest generation Bitcoin miners.
- The first 40MW is set to be commissioned in late Q3 through Q4, 2021, with an option to expand an additional 40MW, or 12,000 miners in Q1/Q2, 2022.
- Latest generation miners planned for installation; this adds 1.3 EH/s for 2021 with an optional 1.3 EH/s for a total of 2.6 EH/s for early 2022.
- The Atlas agreement provides for a profit-sharing model, in addition to the supply of power and infrastructure services.
Pursuant to the terms of the Agreement, the Company will provide certain premises (the "Premises") to Atlas for the purpose of the operation and storage of 12,000 Bitcoin mining units (the " Miners"). Link will also be providing power and infrastructure services for the operation of the Miners.
In consideration for the Company's services, in addition to a competitive rate for power supply, Link and Atlas will participate in a profit-sharing arrangement based on a fixed distribution formula. It is expected that the Miners will be delivered and installed during the third and fourth quarter of 2021. Atlas Mining is an arm's length third party to Link.
Link President and Chief Executive Officer Stephen Jenkins commented, "This 40MW, combined with the 10MW agreement disclosed June 24, 2021, brings us to 70% of our stated objective of 100MW in 2021. Link's modular, scalable approach is now becoming relevant in North American and Globally. We are seeing unprecedented levels of interest in expanding services. According to the June 24, 2021 status on btc.com, the world network output is 100 EH/s. The increase in Links hashing power means that Link would be providing approximately 2% of the current global hashrate."
About Atlas Mining Investments Ltd.
Atlas offers a broad range of value-added services including ASIC mining, high-performance computing, hosting, and cloud services. Atlas is considered one of the largest and most efficient service providers in data computing and storage.
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.
To learn more about Link's activities, visit us at https://linkglobal.io/
and
On behalf of Link Global Technologies Inc.
Stephen Jenkins
Chief Executive Officer & Director
For more information, visit http://linkglobal.io/ or contact:
Stephen Jenkins
stephen@linkglobal.io
+1-877-770-6545
For investor information, please contact:
Omar Diaz
Investor Relations Manager
omar@linkglobal.io
604-551-2950
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. 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 use of proceeds of the Offering may differ materially from those set out in this news release; 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:
https://www.accesswire.com/653268/Link-Global-Technologies-Operating-Hashrate-Increases-380-Over-17-EHs-With-the-Delivery-of-12000-Bitcoin-Miners-From-Atlas-Mining
