TSXV: CSTR
Operations
- As at
September 15, 2021 , the Company has executed Equipment Hosting Agreements for an aggregate mining capacity of 27 megawatts (MW), with 12 MW of mining capacity located at its award-winning data centre facilities inUtah, USA and 15 MW of mining capacity to be deployed inAlberta, Canada in Q4 2021. - The Equipment Hosting Agreements executed for an aggregate 12 MW of mining capacity in
Utah, USA are anticipated to contribute annual hosting revenues for the Company ofUSD$1.7 million . - The Equipment Hosting Agreements executed for an aggregate 15 MW of mining capacity to be deployed in
Alberta, Canada in Q4, 2021 are anticipated to contribute annual power and hosting revenues for the Company of up toUSD$7.9 million . - The Company is continuing to increase its power capacity in
Alberta, Canada , with an additional 10 MWs to be deployed under the existing power supply agreement for 30 MW. - The Company currently has an aggregate self-mining Hashrate of 86,160 MH/s from GPU miners and 40,796 TH/s from ASIC miners running at its data centres.
- The 86,160 MH/s and 40,796 TH/s of existing self-mining Hashrate currently contributes
USD$607,843.02 per month in self-mining revenue forCryptoStar . (Source: https://whattomine.com/ Mining metrics are calculated based on and ETH - USD exchange rate of 1 ETH =$3,405.31 and a BTC - USD exchange rate of 1 BTC =$47,379.50 updated at 2021-09-1511:38:48 UTC ). - An additional 10,000 TH/s of Hashrate from ASIC miners has been delivered and will be deployed in the Company's data centres by
November 30, 2021 .
Infrastructure Project Manager
- The Company is pleased to announce that it has engaged an
Infrastructure Project Manager for its data centres inAlberta, Canada . The Infrastructure Project Manager has over 30 years of experience as an oil and gas operations leader, with specific experience including senior management, operations, production and exploitation engineering as well as facility project management.The Infrastructure Project Manager will supportCryptoStar's long-term expansion plans inAlberta, Canada .
Future Growth
- The Company plans to continue to further expand its self-mining inventory of mining hardware. Additional ASIC miners have been ordered for delivery in Q4, 2021 and further orders for mining hardware will be placed using astute capital management strategies based upon prevailing market conditions for delivery in Q4 2021 and beyond.
- The Company plans to continue to further expand its data centre operations in
Alberta, Canada by partnering with large cryptocurrency miners seeking operating locations inNorth America . The Company continues to consider and perform diligence on several potential transactions and opportunities.
Financial Position
- The Company is in a strong financial position and is well capitalized.
- As at
September 15, 2021 , the Company held 235.9 ETH, 47.6 BTC andUSD$14.5 million (CAD$18.3 million ) in cash. - Additionally, the Company has made deposits for infrastructure equipment and engineering services of
USD$1.4 million (CAD$1.8 million ).
Summary
- The deployment of 86,160 MH/s and 40,796 TH/s of existing Hashrate from GPU and ASIC miners currently contributes
USD$7.3 million in annualized self-mining revenue forCryptoStar . (Source: https://whattomine.com/ Mining metrics are calculated based on and ETH - USD exchange rate of 1 ETH =$3,405.31 and a BTC - USD exchange rate of 1 BTC =$47,379.50 updated at 2021-09-1511:38:48 UTC ). - The Company has executed Equipment Hosting Agreements for an aggregate mining capacity of 27 MW which are expected to contribute up to
USD$9.6 million in annual hosting and power revenues for the Company, with the hosting services inAlberta, Canada expected to commence in Q4, 2021.
About
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Forward-Looking Statements
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SOURCE
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