Link Global Technologies Signs LOI with Neptune Digital Assets Corp. for the Co-Development of a 5 MW Solar, Wind and Natural Gas Powered Bitcoin Mining Facility
Link Global Technologies Inc. has announced a letter of intent with Neptune Digital Assets Corporation to co-develop a 5 MW renewable energy Bitcoin mining facility in Alberta. This facility is part of a joint venture aimed at transitioning to sustainable mining practices utilizing solar, wind, and natural gas power. Following this project, Link's total secured mining output will reach 63.75 MW. The definitive agreement is expected by early April, with construction commencing thereafter, reinforcing Link's commitment to eco-friendly operations in Bitcoin mining.
- Joint venture with Neptune to develop 5 MW renewable energy Bitcoin mining facility.
- Total secured mining output will increase to 63.75 MW.
- Commitment to sustainable and eco-friendly Bitcoin mining practices.
- None.
VANCOUVER, BC / ACCESSWIRE / MARCH 19, 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 planned expansion into renewable energy mining. The Company has signed a letter of intent ("LOI") with Neptune Digital Assets Corporation ("Neptune") (TSXV:NDA)(OTC PINK:NPPTF)(FSE1NW) to co-develop a 5 megawatt ("MW") renewable energy Bitcoin ("BTC") mining facility in Alberta. This LOI follows shortly after the announcement on March 4, 2021, for LINK to procure and operate 1,500 Bitcoin mining machines for Neptune.
- The new mining facility is a 50/50 joint venture between LINK and Neptune.
- The location of the site will be in Alberta where LINK operates the majority of their BTC mining operations.
- The operation will be powered by a combination of solar power, wind power and natural gas.
- The signing of a definitive agreement is expected by early April with construction immediately following.
The addition of this 5 MW facility will bring LINK's secured output to 63.75 MW.
Link President and Chief Executive Officer Stephen Jenkins commented, "This push for more renewable energy is wonderful as it is a necessity in an energy-intensive sector. LINK and Neptune are committed to incrementally lowering the impacts of Bitcoin mining. We are determined to prove that the future of mining digital currency can be done in a green way. We look at this as the beginning of expanding our footprint into renewable energy projects for digital currency mining."
Neptune's CEO Cale Moodie also commented, "We are very excited about our second venture with Link Global. We expect there to be substantial global pressure to develop sustainable Bitcoin mining operations around the world. We hope, as a team, to become a major powerhouse in carbon-neutral mining at low-cost and tapping carbon credits for exchange in that burgeoning marketplace."
About Neptune Digital Assets Corp.
Neptune Digital Assets aims to be a cryptocurrency leader with a diversified portfolio of investments and cryptocurrency operations across the digital asset ecosystem including bitcoin mining, tokens, proof-of-stake cryptocurrencies, decentralized finance (defi) and associated blockchain technologies.
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 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.
SOURCE: Link Global Technologies Inc.
View source version on accesswire.com:
https://www.accesswire.com/636389/Link-Global-Technologies-Signs-LOI-with-Neptune-Digital-Assets-Corp-for-the-Co-Development-of-a-5-MW-Solar-Wind-and-Natural-Gas-Powered-Bitcoin-Mining-Facility
FAQ
What is the significance of Link Global Technologies' partnership with Neptune Digital Assets?
What technologies will power the new Bitcoin mining facility by Link Global?
When is the construction of the new Bitcoin mining facility expected to start?
What will be the total secured output for Link Global after the new facility is built?
What is the stock symbol for Link Global Technologies?
What is the stock symbol for Neptune Digital Assets Corporation?
