Link Global Expands Profit-Sharing Bitcoin Mining Partnership with Bit Digital to 1515 Machines

Rhea-AI Summary

Link Global Technologies has expanded its profit-sharing Bitcoin mining partnership with Bit Digital by adding 1,515 mining machines, increasing its capacity from 250 to over 350 PH/s. This agreement, effective from March 8, 2021, includes a revenue-sharing model from mined Bitcoins. CEO Stephen Jenkins emphasized the efficiency and profitability of this partnership, indicating a potential for rapid deployment of additional miners. The company aims to leverage its expertise in low-cost power and infrastructure for digital mining and data hosting operations.

Positive

• Expansion of mining capacity to over 350 PH/s with the addition of 1,515 miners.
• Strong partnership with Bit Digital, indicating trust and business confidence.
• Revenue-sharing model expected to enhance profitability.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / March 18, 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 provide an update on its profit-share Bitcoin mining operations. As previously announced on February 10, 2021, the Company will be hosting 1,000 Bitcoin mining rigs under a profit-share mining partnership. Link is pleased to announce that Bit Digital Inc. ("Bit Digital") (NASDAQ:BTBT), a Nasdaq Stock Exchange-listed bitcoin mining company, will host an additional 515 machines with the option to provide more machines in the near term.

With the addition of these 1,515 miners, Link will add over 100 PH/s to the current 250 PH/s managed by Link through power purchase agreements, hosting contracts, profit-share arrangements, and miners owned by Link.

Under the terms of the services agreement signed on March 8, 2021:

• Bit Digital agrees to a base power purchase price and to provide revenue share from Bitcoins mined;
• Bit Digital agrees to expand their operations hosted with Link to 1,515 machines with the option to extend hosting up to an additional 1,000 machines in the near term.

Link President and Chief Executive Officer Stephen Jenkins commented, "For Bit Digital to exercise their option so quickly is a testament to this type of arrangement's efficiency and profitability. We are confident that we can also expedite deployment of the next 1,000 machines in the Bit Digital option. Link is positioned to continue growing its business and through these types of 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.

Stephen Jenkins
Chief Executive Officer & Director

For more information, visit http://linkglobal.io/ or contact:

Steve Jenkins
stephen@linkglobal.io
+1-877-770-6545

For investor information, please contact:

info@linkglobal.io
+1-833-707-8708

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. 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 Q2 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.

SOURCE: Link Global Technologies Inc.

View source version on accesswire.com:
https://www.accesswire.com/636206/Link-Global-Expands-Profit-Sharing-Bitcoin-Mining-Partnership-with-Bit-Digital-to-1515-Machines

FAQ

What is the significance of the partnership between Link Global Technologies and Bit Digital?

The partnership allows Link Global to expand its mining capacity significantly, enhancing operational efficiency and profitability.

How many Bitcoin mining machines will Bit Digital host under the new agreement?

Bit Digital will host an additional 1,515 Bitcoin mining machines as part of the expanded partnership.

What is the current and new total hash rate of Link Global Technologies after the expansion?

Link Global Technologies' hash rate will increase from 250 PH/s to over 350 PH/s with the new machines.

When was the services agreement with Bit Digital signed?

The services agreement between Link Global Technologies and Bit Digital was signed on March 8, 2021.