VANCOUVER, BC, CANADA, JANUARY 21, 2021, LINK GLOBAL TECHNOLOGIES INC. (CSE: LNK; FRA: LGT; OTC: 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 planned Bitcoin self-mining operations. The Company announced on January 7, 2021, that it will be acquiring a fleet of up to 1,600 ASICS Bitcoin mining rigs for the purpose of self-mining Bitcoin. Today, LINK announces that it will now have access to up to 2,700 Bitcoin miners via strategic relationships with partners in Canada and Asia.
SIGNED SERVICES AGREEMENT
- BIT DIGITAL agrees to both a base power purchase price and a revenue share for machine hosting.
- BIT DIGITAL agrees to an initial 1000 machines with the option to expand LINK hosting to 3000 machines in the near term.
- Link offers a cost-effective solution to BTBT.
- Link has the ability to provide other power solutions.
- BTBT provides access to more machines expanding its operations into Canada.
- Shared accountability creates a motivation for efficiency, maximizing net profit revenue through innovative solutions.
Link’s platform excels in its ability to access low-cost, reliable power generated from dormant and natural gas assets, therefore mining Bitcoin more cost-efficiently. For every 6 MWs of operational power, Link can generate 108,000 terahash of computing power or approximately 2 Bitcoins per day. At current capacity, Link is capable of operating up to 50 MWs.
Link is currently supplying 8.75 Megawatts (MW) to Bitcoin mining clients, with power derived from natural gas assets from inactive Alberta oil wells. The Company announced in a press release dated November 25, 2020, the commissioning of another 10 MW power site under a new contractual agreement.
Link President and Chief Executive Officer Stephen Jenkins commented, “We are very pleased with the rapid expansion of our Bitcoin mining operations. We have extensive experience in operating Bitcoin mining machines from our previous operations in Oregon, USA. By moving our operations to Canada, we have sourced lower-cost power and took advantage of the favorable exchange rate, with our overheads in Canadian dollars and our US dollars’ revenues. With the rise in Bitcoin price and expanding market interest, Link has swiftly expanded into self-mining, which will grow our Bitcoin assets profitably. Our current business model is vertically integrated, allowing Link to supply customers with power in a “plug and play” strategy. This means we can leverage our infrastructure assets and access to low-cost power to self-mine Bitcoin when the market is profitable. Link is perfectly positioned to continue growing its business through power purchase agreements, self-mining operations and strategic partnerships.”
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.
On behalf of Link Global Technologies Inc.
Chief Executive Officer & Director
For more information visit https://linkglobal.io/ or contact:
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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.