Codebase Bit Mining Update

Rhea-AI Summary

Codebase Ventures Inc. (CSE:CODE) announced that its bit mining infrastructure continues to produce Bitcoin. The Company is actively seeking further investments in bit mining, emphasizing scalability and green energy solutions. With the recent approval of the first U.S. Bitcoin Futures ETF, regulatory acceptance of Bitcoin trading has improved, indicating wider industry acceptance. Codebase remains confident in the long-term potential of Bitcoin and blockchain technology amidst evolving market conditions.

Positive

• Continued production of Bitcoin via existing mining infrastructure.
• Focus on scalability and green energy solutions for future investments.
• Regulatory acceptance signified by the first U.S. Bitcoin Futures ETF approval.

Negative

• None.

• Code Bit Mining Infrastructure Continues to Produce Bitcoins
• Company Seeks further Investments in the Space, focusing on Green Energy opportunities
• Regulatory acceptance of Bitcoin trading takes significant step with first U.S. Bitcoin Futures ETF

VANCOUVER, BC / ACCESSWIRE / October 20, 2021 / Codebase Ventures Inc. ("Codebase" or the "Company") (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is pleased to announce that the Company's bit mining infrastructure continues to generate Bitcoin, and that the Company is seeking further investments in the space.

The Company is actively seeking bit mining investments with scalability, deploying its capital and expertise to provide investors with access to Bitcoin, noting that significant changes in regulatory positions indicate wider acceptance of the industry as a result of the Securities and Exchange Commission allowing the first U.S. Bitcoin futures exchange traded fund to trade beginning this week.¹

Codebase remains confident in their long-term thesis surrounding Bitcoin and the continued disruption that blockchain technology will have on the world in the coming years, and the Company is seeking further bit mining investments that emphasize green energy solutions to stabilize costs and protect the environment.

^{1 https://www.barrons.com/articles/bitcoin-etf-proshares-bito-51634631544}

About Codebase Ventures Inc.

Codebase Ventures Inc. seeks early-stage investments in emerging technology sectors, including the blockchain ecosystem and fintech. The Company identifies such opportunities and applies its relationships and capital to advance its interests.

For further information, please contact:

George Tsafalas - Ivy Lu
Investor Relations
Telephone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
E-mail: IR@codebase.ventures

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates", "may" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition and results of operations, lack of investor demand for Bitcoin and/or Bitcoin futures exchange traded funds, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

SOURCE: Codebase Ventures Inc.

View source version on accesswire.com:
https://www.accesswire.com/668787/Codebase-Bit-Mining-Update

FAQ

How is Codebase Ventures (BKLLF) related to Bitcoin mining?

Codebase Ventures operates a bit mining infrastructure that continues to generate Bitcoin.

What recent regulatory change affects Codebase Ventures (BKLLF)?

The approval of the first U.S. Bitcoin Futures ETF signifies increased regulatory acceptance of Bitcoin trading.

What is Codebase Ventures' focus moving forward?

The Company is seeking further investments in bit mining, particularly those emphasizing scalability and green energy.

What is Codebase Ventures' stock symbol?

The stock symbol for Codebase Ventures is BKLLF.