After a year of mumbly news releases that didn’t expose spil much news spil they hinted at, Calyx Bio-Ventures (CYX.V) has ultimately dropped one that details a overeenkomst.
Calyx Bio-Ventures Inc.’s wholly wielded subsidiary Canada Blockchain Hosting Corp., a Vancouver-based blockchain computing company, has acquired and successfully finished the installation and setup of its very first cryptocurrency-mining and blockchain-data-validation operation ter Kamloops, B.C.
This is the 2nd phase of the company’s objective to integrate a general cryptocurrency-mining facility and distributed-computing toneel into the company’s existing blockchain business monster. This extra computing and hash power will permit Canada Blockchain to instantaneously generate extra revenues and significantly enhance the company’s capability to support the expansion of its private blockchain ecosystem.
Yes, wij have details. They’ve snapped up 350 GPUs. Not a gamechanger, but a nice little earner, enough to voorkant the company’s expenses, and, more importantly, a sandbox from which to execute their blockchain strategy.
The acquisition brings 50 high-performance mining units, each with seven graphics processing units, under Canada Blockchain’s ownership (with rights to acquire another 40 units instantaneously), which permits for quick expansion and buildout without waiting for fresh hardware from suppliers. The plasticity of GPU mining versus Asic based mining permits Canada Blockchain to participate te mining pools which maximizes profitability regardless of the cryptocurrency being mined. All mining proceeds will be paid out te either bitcoin or ethereum, depending on profitability at the time.
What are they mining?
This array of units is presently mining bitcoin, ethereum, Decred, Lbry, Zcash, and Pascal, and will expand to voorkant any other cryptocurrency that may be profitable te the near term. A number of thesis currencies have seen significant appreciation ter the last year.
A welgevoeglijk spread. And this is the very first nibble, with more already being waterput together.
The next phase of the company’s cryptocurrency strategy is being built out ter its fresh office headquarters, where the company is installing a 1,000-square-foot datacentre space to accommodate approximately 100 13-GPU mining units, with a view to expanding that to a 7,500 square feet upon completion of negotiations with facility owners.
The stock has already climbed by a third, however it resumes to be one of the cheaper entries into the blockchain/crypto space.
I spoke to Roger Forde, CEO of Calyx, this morning and he said he’s neck deep te negotiations for both the 2nd half of the facility they just bought, and the expansion of his office-based set-up which, according to him, has a nice overeenkomst on energy costs that will make urban crypto mining comparable to facilities ter subsidized energy regions.
Again, this is a puny set-up right now, no doubt. But it’s an active setup that is earning money today, not an ‘early 2018’ launch that will rely on hardware acquisition (that is becoming indeed difficult) and future buildouts that will require big financing.
Solid stir. Nice uptick. Well played.
UPDATE: By the end of trading, CYX wasgoed up 100% to $0.36.
Total DISCLOSURE: Calyx Bio-Ventures is an Equity.Guru marketing client
NB: Pursuant to a resolution passed by the directors dated Nov. 27, 2018, Calyx Bio-Ventures Inc. switched its name to Calyx Ventures Inc. effective spil at Feb. Five, 2018. The ticker symbol CYX is unchanged.
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