VANCOUVER, BC, CANADA, JANUARY 10, 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. Link announces today that it will now have access to up to 2,700 Bitcoin miners via strategic relationships with partners in Canada and Asia.
Link has signed letters of intent (the “LOIs”) with two companies, whereby Link will receive revenue for supplying power to its Bitcoin mining clients and operating the machines, while also receiving a royalty on gross revenue earned from each company’s Bitcoin mining operations. This revenue share model allows the Company to leverage its power and infrastructure assets in order to operate the machines more cost effectively. Link will update shareholders once the terms of the LOIs have been finalized.
Link is supplying clean-energy solutions by generating power from dormant and stranded natural gas assets, eliminating methane emissions into the atmosphere, while generating electricity and using it to supply power to clients that rely on data mining and data hosting.
The advantage of Link’s platform is its ability to access low-cost, reliable power, generated from dormant and natural gas assets, which it can then leverage to mine Bitcoin more cost efficiently. For every 6 MWs of operational power, Link can generate 108,000 terahash of computing power, or the equivalent of 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) of power derived from dormant and stranded natural gas assets from inactive oil wells in Alberta to its Bitcoin mining clients. The Company announced in a press release dated November 25, 2020 that it is commissioning 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 been able to source lower-cost power and take advantage of the favorable exchange rate, with our overheads in Canadian dollars and our revenues in US dollars. With the rise in Bitcoin price and expanding market interest, Link has been able to swiftly expand 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 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.
Chief Executive Officer
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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 the intended use of proceeds from the debt financing; expectations with respect to the new power site; and other statements regarding the business plans of the Company. All such forward-looking statements are based on factors or assumptions 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, they require making assumptions and involving inherent risks and uncertainties by their very nature. 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 results from the new power site may differ from the Company’s 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.