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Link Global Technologies (CSE:LNK)(FRA:LGT)(OTC:LGLOF) announced its financial results for the six months ending May 31, 2021. Total assets grew by 151% to $12,999,663, with revenues reaching $1,525,732, reflecting a remarkable 699% increase year-over-year. Gross profit was $734,896, yielding a gross margin of 48%. Operating expenses surged to $3,432,326 due to increased business activities. The company reported a net loss of $3,422,476 for the period. Recently secured contracts and an ongoing focus on capital investments position Link for further growth in the Bitcoin mining sector.
Link Global Technologies (CSE:LNK; FRA:LGT; OTC PINK:LGLOF) announced its commitment to the Crypto Climate Accord on July 20, 2021. This initiative aims to decarbonize the crypto and blockchain sector through renewable energy solutions. By signing, Link pledges to achieve net-zero emissions in its crypto operations by 2030 and to report progress regularly. Additionally, the Board approved granting options for 450,000 shares at varied exercise prices for marketing services. CEO Stephen Jenkins emphasized the importance of sustainability in the crypto industry.
Link Global Technologies Inc. (CSE:LNK)(FRA:LGT)(OTC PINK:LGLOF) has signed a strategic co-mining agreement with Atlas Mining Investments Ltd. to provide a 40MW turnkey solution hosting 12,000 advanced Bitcoin miners, expected to increase Link's hashrate by 1.3 EH/s for 2021, potentially doubling in early 2022. This agreement includes a profit-sharing model, enhancing Link's operational capacity to approximately 2% of the global hashrate. The agreement aligns with the company's goal to reach 100MW capacity, with the first phase slated for commissioning in late Q3/Q4 2021.
Link Global Technologies has signed a term sheet with Mission World Group to deliver power for 3,000 Bitcoin miners, with a 3-year term and an option for an additional 3 years. The contract anticipates a total processing power of 540 Petahash by 2022. Following project completion, Link Global expects to have 880 Petahash under contract. Additionally, the company appointed an Operations Manager to oversee Alberta. Engagement with Scandinavian Alliance aims to enhance market awareness, including granting stock options at $0.53 per share.
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.
Link Global Technologies Inc. (CSE:LNK)(OTC PINK:LGLOF) has successfully completed an oversubscribed private placement raising $1.748 million by issuing 2,185,000 units at $0.80 each, with each unit consisting of a common share and a warrant. The funds will be used for general working capital. The company also settled $509,100 in debts via share exchanges. New board member Michael Vogel brings extensive experience in the crypto sector. Additionally, Link received 300 Bitmain S17 miners to enhance its operations, aiming to optimize earnings through a partnership with Neptune Digital Assets.
Link Global Technologies Inc. (CSE:LNK)(OTC PINK:LGLOF) has announced a private placement arrangement for raising $1,500,000 at $0.80 per unit. Each unit includes one common share and a warrant for an additional share at $1.25 for 24 months. Proceeds will support general working capital. The offering is expected to close on April 23, 2021, and is subject to Canadian Securities Exchange approval. The transaction involves related party transactions and securities will have a statutory hold period.
Link Global Technologies Inc. (CSE:LNK)(OTC PINK:LGLOF) announced its participation in the H.C. Wainwright Cryptocurrency, Blockchain & FinTech Conference on April 27, 2021. CEO Stephen Jenkins will present the company's innovative power solutions for cryptocurrency mining and hosting. The firm aims to secure low-cost power for these operations. Registered investors can attend one-on-one meetings with Jenkins. The conference serves as a platform to enhance visibility within the cryptocurrency sector.
Link Global Technologies Inc. (CSE: LNK; OTC: LGLOF) announced a Letter of Intent with a solar consultant for 20MW of power and carbon credits as part of its joint venture with Neptune Digital Assets Corp. for Pure Digital Power Corp.. This partnership aims to lead in clean energy BTC mining with a projected 600MW of solar power in early 2022. Link has also reported the installation of Bit Digital BTC mining machines and the acquisition of 2.5MW generators. A definitive agreement is expected by the end of April 2021.
Link Global Technologies has formed a 50/50 joint venture with Neptune Digital Assets to establish Pure Digital Power Corp. in Alberta, Canada. This venture aims to develop a 5 MW Bitcoin mining facility powered by clean energy sources, including solar and wind. All mined Bitcoin will be held in treasury for reinvestment. The operational responsibilities, including financial oversight and procurement of renewable resources, will be shared between LINK and Neptune. This initiative reflects a commitment to sustainable energy practices in BTC mining.
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