Link Global Technologies' CEO Stephen Jenkins Responds to Recent Concerns About "Dirty" Bitcoin Mining
Link Global Technologies Inc. (CSE:LNK)(OTC PINK:LGLOF) addresses concerns regarding the environmental impact of Bitcoin mining in a letter from CEO Stephen Jenkins. The Company acknowledges the issues surrounding coal-based energy and is committed to innovative solutions. Link Global has entered a binding LOI for energy-reducing technology that could cut Bitcoin mining power consumption by over 25%. Additionally, it plans to collaborate with Neptune Digital on a hybrid energy site utilizing solar, wind, and natural gas while reusing dormant gas facilities to mitigate methane emissions.
- Binding LOI for technology to reduce Bitcoin mining energy consumption by over 25%.
- Collaboration with Neptune Digital to develop a hybrid energy site using renewable sources.
- Continued concerns about the environmental impact of Bitcoin mining operations.
VANCOUVER, BC / ACCESSWIRE / May 13, 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.
In an open letter, Link Global CEO Stephen Jenkins addresses recent concerns:
We at Link Global agree with the concerns about "dirty" Bitcoin mining through coal plants. We should all be concerned about the continued use of coal to generate power for any purpose, not just bitcoin mining.
The digital currency system, and the World Financial System, require an immense amount of energy to operate, whether it is banks running computers 24/7 or Bitcoin operations running computers 24/7. The need for reliable energy is endless.
LINK GLOBAL is actively taking steps to forge an innovative way forward by following the 3R's of recycling.
Reduce, Reuse, Recycle.
How do we reduce?
As previously announced Link Global is in a binding LOI for energy-reducing IP that will reduce the consumption of power required by over
Link is also involved with Neptune Digital to build a hybrid site that profiles the use of Solar, Wind and natural gas to provide a novel solution to the mining community.
How do we reuse?
Link Global reuses old dormant gas facilities, potentially leaking methane into the environment. Methane is a greenhouse gas ("GHG") that is 80 times more dangerous to the environment than carbon dioxide in terms of its GHG emissions contribution.
Beneficial methane destruction has proven quantifiable benefits recognized by agencies worldwide as a viable method to contain GHG's.
How do we recycle?
Link is working on solutions to use waste heat to serve tertiary purposes such as low-grade energy for greenhouses and provide further energy opportunities such as Organic Rankine Cycle electricity. The low-temperature heat is converted into useful work, that can itself be converted into electricity.
These innovations are encouraged by the culture of the bitcoin mining industry. We all have the same goals; clean air and clean water, leading to a new age for digital currency mining.
Stephen Jenkins
Chief Executive Officer & Director
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:
Omar Diaz
Investor Relations Manager
omar@linkglobal.io
604-551-2950
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 relate to: the intended use of the net proceeds from the Offering; the agreement and business relationship with Neptune, including the operating metrics when fully operational and that the Company will be providing further updates in the coming weeks, and other matters relating to the Company's business plans. 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 actual use of proceeds of the Offering may differ materially from those set out in this news release; 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.
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