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Cryptocurrency Mining Company HashChain Technology is Publicly-Listed on the TSX Venture Exchange under the symbol KASH

Cryptocurrency Mining Company HashChain Technology is Publicly-Listed on the TSX Venture Exchange under the symbol KASH

Company Mines Dash with Bitcoin to Follow in January 2018

 

Vancouver, British Columbia -- December 15, 2017 -- InvestorsHub NewsWire -- HashChain Technology Inc. ("HashChain" or the "Company") is pleased to announce that it has received final approval for listing on the TSX Venture Exchange ("TSXV"). The common shares of HashChain will commence trading on the TSXV effective Monday, December 18, 2017 under the symbol "KASH".

HashChain has raised approximately $4.4 million dollars to date with 41,179,000 common shares issued and outstanding. The Company is initially focusing resources on mining Dash and Bitcoin cryptocurrencies utilizing Application Specific Integrated Circuit ("ASIC") mining rigs, which are high-performance computer systems used for cryptocurrency mining. The Company is currently operating 100 Dash mining rigs which commenced mining on November 3, 2017 and has purchased 770 Bitcoin rigs which are expected to be received and installed to commence mining in January 2018. Both models of rigs are the most powerful on the market at mining their respective currencies. With all 870 rigs in full operation, Hashchain's initial energy consumption dedicated to digital currency mining is approximately 1.2 megawatts.

HashChain's initial mining operations are hosted at a facility in Vancouver, British Columbia, Canada at Uniserve. The location offers all three key factors necessary for efficient and profitable digital currency mining: low cost of electricity, access to high speed internet and cool temperatures. HashChain utilizes a web interface to remotely monitor Hash rates, difficulty levels, temperatures, rig statuses, and power consumption 24/7 to keep rigs operating at maximum efficiency.

In addition to mining digital currency, the Company has also acquired a Dash Masternode for approximately USD $280,000 which requires a collateral investment of 1,000 Dash coins. Based on current prices as of December 15, 2017, the Masternode investment is worth approximately USD $880,000. By holding this investment, Hashchain receives the right to participate in budget funding decisions for the Dash network while also receiving a return on investment in the form of virgin coins and currency appreciation.

HashChain is comprised of a team that has multiple years of experience in blockchain development and cryptocurrencies. Patrick Gray is the founder and Chief Executive Officer of HashChain and helps lead the overall strategic vision of the Company. Mr. Gray is a Certified Blockchain Expert recognized by the Blockchain Council. He has experience building and operating mining hardware and data centres. He has published articles on blockchain technology, regularly reads publications, attends blockchain courses and conferences to further his expertise in the space.

Mr. Gray was hired as one of the first developers for a start-up, Amici. Amici was sold to Xerox for CAD $220 million in 2006. After the acquisition by Xerox, Mr. Gray continued with Xerox and became the youngest executive in Xerox's history, leading a team of 35 developers in the Xerox Litigation Services division, which became the most profitable division in Xerox at the time, and was promoted to a Band B Executive. He is also the founder of sCube Inc. a niche IT Service provider with over 120 employees that focuses on E-Discovery, E-Licensing, Application Development and IOT.

"We are giving investors access to a lucrative cryptocurrency market that they can't take advantage of themselves," explained Patrick Gray, CEO and Founder HashChain. "Our ideal location for mining will maximize revenue on each coin, and our proprietary approach to operations can sustain rapid growth and scalability. Canada is one of the most optimal locations to mine with low cost of electricity, low temperatures and good internet connectivity. Our strategy is to continue deploying rigs in locations with these three key characteristics. Some key differentiators we have at HashChain include our management team who are extremely knowledgeable in the crypto-currency space and have had years of experience not only buying and selling crypto-currencies but also building out professional data centres for crypto-currency mining as well as developing solutions on the Blockchain. With my computer science background and the managerial expertise I gained from Xerox, HashChain is positioned to be a global leader in mining. Our rigs come from some of the largest rig manufacturers in the world, but we also pride ourselves on having relationships with some of the smaller rig manufacturers that are coming out with more efficient mining rigs that consume less electricity and are able to mine crypto-currencies faster than some of their competitors."

Nitin Kaushal, Chairman of the Board of HashChain and currently serves as Managing Director, Corporate Finance at PwC Canada. He has over 30 years of finance and investment experience in the financial, life sciences, consumer healthcare and medical device industries. Over the course of his career, Mr. Kaushal has worked in senior roles with a number of Canadian investment banks, including Desjardins Securities Inc., Orion Securities Inc., Vengate Capital Partners Company, HSBC Securities Inc., Medwell Capital Corp. and Gordon Capital, and has held various roles within the private equity/venture capital industry. In addition, he has sat on the boards of a number of public and private companies, including Patient Home Monitoring Corp., Convalo Health International, Delivra Corp., Global Gardens Group Inc., and Shelby Ventures. Mr. Kaushal holds a Bachelor of Science (Chemistry) degree from the University of Toronto and is a CPA-CA.

Herrick Lau, Chief Financial Officer, Director and Corporate Secretary. He is currently the Managing Director of Baron Global Financial Canada Ltd., a merchant-banking firm which provides financial advisory services to private and public companies and offers advice on transaction structuring, mergers and acquisitions, corporate governance and compliance issues. With over 20 years in financial management and corporate finance, Mr. Lau has gained valuable experience in developing financing strategy, liaising with external parties, devising business development plans and maintaining compliance with corporate governance requirements. Mr. Lau also has experience as a senior financial executive in public companies. He has acted as chief financial officer and/or director for various public companies listed on the Toronto Stock Exchange, TSX Venture Exchange and Canadian Securities Exchange.

Zyshan Kaba, Director acts as legal counsel to companies in the blockchain and cryptocurrency industry. He has participated in advisory sessions and client engagements working directly with the OSC Launchpad, a group formed by the Ontario Securities Commission to support businesses navigate regulations applicable to digital innovation. Mr. Kaba's experience also includes regulatory assessments for initial coin offerings, evaluation and diligence for financial technology businesses as well as personal experience investing with cryptocurrency. He is also an entrepreneur and business advisor with a deep interest in technology and venture markets. His experience covers business and regulatory strategy, venture capital and investing, and public and private corporate finance. Mr. Kaba received his J.D. from the University of Toronto and is called to the bar in Ontario and New York. He is a member of the Law Society of Upper Canada and New York State Bar Association.

Todd Montano is the Company's Information Technology Manager. Mr. Montano is experienced in building, operating and maintaining cryptocurrency mining rigs and has a software development background with a bachelors degree in information science which will be utilized to develop mining monitoring software.

Jack Saba, is an Advisor to the Company. Mr. Saba is the co-founder and managing partner of Day One Investments a blockchain investment and consulting company. Mr. Saba speaks at cryptocurrency conferences across the world, spreading awareness of the generational opportunity the Blockchain is providing for entrepreneurs, investors, and social impact initiatives. In addition, he has hosted multiple blockchain events and information sessions to educate users about cryptocurrency.

Perry Woodin, is an Advisor to the Company. Mr. Woodin is one of two advisory board members to Dash, the seventh largest cryptocurrency ranked according to market capitalization. He is an active participant in the cryptocurrency community through his speaking engagements around the world and his voting participation on the Dash governance committee. Mr. Woodin has extensive knowledge of Dash and other forms of cryptocurrency, mining processes and hardware requirements. Most recently, he was featured in a blockchain documentary as an expert in the cryptocurrency space.

Over the next year, HashChain will execute its North American cryptocurrency mining roll out strategy and is evaluating alternative coins to diversify its mining strategy and be well positioned to survive unexpected fluctuations in difficulty levels of the cryptographic puzzles, or currency values which impede profitability. Additionally, the Company is developing proprietary software capable of monitoring hash rates of the equipment to automatically switch rig computing power between currencies in the instance that one becomes more profitable than another.

The Cryptocurrency market has experienced substantial growth, reaching a market cap of approximately US$500 billion in December 2017, according to coinmarketcap.com. Estimates from Canaccord Genuity predict that the total value of all cryptocurrencies required for payments and store of value will grow from $11.2 billion and $16.6 billion, respectively, in 2017 to $1,132 billion and $92 billion, respectively, by 2025.

 

About HashChain Technology Inc.

HashChain is the first publicly-traded (TSXV) cryptocurrency mining company to file a final prospectus in Canada, supporting highly scalable and flexible operations across all major cryptocurrencies. HashChain taps low-cost Canadian power, cool climate and high-speed Internet: the trifecta most critical to mining success, to create a hyper-competitive position for maximizing the number of mining 'wins.' Hashchain is based in Vancouver, British Columbia. HashChain Mining is a wholly owned subsidiary of HashChain Technology based out of Albany, NY.

For further details of the Company's business, please refer to the Company's final prospectus dated December 12, 2017 which is available on the Company's SEDAR profile at www.sedar.com or visit http://www.hashchain.ca.

 

On Behalf of the Board,

Patrick Gray

CEO & Director

 

For Further information please contact:


HashChain Technology Inc.

Herrick Lau
CFO

herrick.lau@barongroupintl.com
778-331-2082

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HSSHF News: HashChain Technology Deploys an Additional 2,000 Cryptocurrency Mining Rigs 07/10/2018 09:21:34 AM
HSSHF News: HashChain Technology Announces Intent to Spin off NODE40, its Blockchain Technology Business into a Stand-Alone Public Company 07/03/2018 01:05:04 PM
HSSHF News: HashChain Technology To Receive Shipment of 6,000 Cryptocurrency Mining Rigs This Week 06/25/2018 12:25:53 PM
HSSHF News: HashChain Technology Mines 24.03 Bitcoin and 9.99 Dash in the Last Ten Days with a Total of 3,495 Rigs Deployed 06/19/2018 01:47:48 PM
HSSHF News: HashChain Technology Achieves Rapid Cryptocurrency Mining Growth and Key Blockchain Technology Acquisitions Since TSXV Listing 05/23/2018 11:16:08 AM
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#344   Interesting. I only took a few shares greenwillow 10/19/18 08:10:35 AM
#343   I think Hashchain Technology is alright, I jhcrew 10/19/18 08:03:35 AM
#342   What about hash? greenwillow 10/17/18 09:30:27 PM
#341   I just read the CEO's comments and I RjayP 10/16/18 12:31:13 PM
#340   check dmggf...thoughts? greenwillow 10/16/18 10:45:16 AM
#339   Due for new some news soon... let's hope eom7 10/16/18 10:25:04 AM
#338   agree completely. When bitcoin goes...everything will re-price greenwillow 10/15/18 09:53:12 PM
#337   Facts!!!! RjayP 10/15/18 09:52:27 PM
#336   All cryptocurrencies can look like POS and that RjayP 10/15/18 09:50:47 PM
#335   I agree that BLkCF is the best play jhcrew 10/15/18 09:24:25 PM
#334   Fact is, all crypto look like pos's right greenwillow 10/15/18 09:18:11 PM
#333   BLKCF is the best play in Blockchain technology RjayP 10/15/18 08:55:03 PM
#332   I would agree with greedy only if they RjayP 10/15/18 08:54:19 PM
#331   They're not very transparent, and feel like they're greenwillow 10/15/18 08:44:49 PM
#330   Why don't you like BLKCF? jhcrew 10/15/18 08:34:51 PM
#329   They're all pos until they aren't, imo. greenwillow 10/15/18 07:46:44 PM
#328   I don't think this company is a POS RjayP 10/15/18 07:41:00 PM
#327   Totally agree, but I do believe btc will greenwillow 10/15/18 07:25:05 PM
#326   Let's not get ahead of ourselves, BTC has RjayP 10/15/18 07:09:45 PM
#325   This should be a nice ride when btc greenwillow 10/15/18 06:22:24 PM
#324   I saw this one. greenwillow 09/21/18 09:34:14 AM
#323   HashChain Technology projects to be mining between 10 eom7 09/21/18 09:28:37 AM
#322   How many Bitcoins are these guys up to? greenwillow 09/21/18 09:22:40 AM
#321   Net, net I think it's positive for HashChain. eom7 09/21/18 09:12:02 AM
#320   I can't tell if this is good for eom7 09/21/18 08:57:40 AM
#319   20 Sep HashChain Technology Announces Amendment to Asset Purchase Agreement greenwillow 09/20/18 06:26:14 PM
#318   Solid, slow & steady for now. greenwillow 08/28/18 02:30:15 PM
#317   Back above $7,000! eom7 08/28/18 09:20:57 AM
#316   I think so too. BTC just spiked. greenwillow 08/27/18 07:57:09 PM
#315   Ad more today. Reversal in. steez 08/27/18 05:15:14 PM
#314   Come on btc, breakout.... greenwillow 08/27/18 02:14:10 PM
#313   Thinking about picking up some more at these eom7 08/27/18 10:04:25 AM
#312   Added. 8s greenwillow 08/25/18 07:42:33 AM
#311   thanks bud i load more kash steez 08/16/18 09:13:47 AM
#310   HashChain Technology ( TSX-V: $KASH / OTCQB: $HSSHF eom7 08/16/18 07:03:59 AM
#309   More in depth... MaxGainzzz 07/29/18 03:23:43 PM
#308   Agree this will go big time its all steez 07/28/18 07:28:51 AM
#307   Pretty good look how much growth we had. jondoe 07/28/18 03:46:07 AM
#306   Horrible! https://twitter.com/hashchain_tech/status/1022954829113683971?s=12 Surfacetite 07/27/18 08:43:54 PM
#305   Where can I find it? Ablack1 07/27/18 08:42:57 PM
#304   Shiddy co! ER came out, horrible! Surfacetite 07/27/18 06:56:52 PM
#303   At these prices, they are going to be eom7 07/25/18 11:40:52 AM
#302   Let her runnnnnn greenwillow 07/24/18 10:20:10 PM
#301   Okay, they're gonna have to bust the flood greenwillow 07/24/18 10:19:24 PM
#300   I got in today after I sold my MARA savagess 07/24/18 03:09:19 PM
#299   It all depends on bitcoin in the short greenwillow 07/18/18 09:23:55 AM
#298   Nice entry! It would be nice to eom7 07/18/18 09:12:37 AM
#297   Nice day today up we go baby. steez 07/17/18 05:37:58 PM
#296   grabbed a few 10s...lets see if it goes, greenwillow 07/17/18 05:07:07 PM
#295   Added more today, it's go time! eom7 07/17/18 03:06:32 PM
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