News Out
Toronto, Ontario; December 20, 2021 – TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1 | OTC:TAALF) ("TAAL" or the "Company"), a vertically integrated blockchain infrastructure and service provider for enterprise, is pleased to announce that it has closed the previously announced share purchase transaction, acquiring 100% ownership of Chief Fuels Inc., and with it, indirect ownership of a 60,000 sq/ft facility in Grand Falls, New Brunswick.
With this transaction, TAAL gains access to 50 megawatts of clean energy, which the Company expects will ultimately allow it to power up to 2 Eh/s of Bitcoin mining in New Brunswick, Canada.
Once filled to capacity, the Grand Falls facility is expected to have 50 megawatts of power to mine Bitcoin at an industrial scale.
• 50-MW energy will power up to 2 Eh/s of mining capacity
• New Brunswick based facility will become TAAL's cornerstone Bitcoin mining asset
• New Brunswick Power Corporation supplies energy to industrial and residential customers in the Province of New Brunswick that is over 80% non-emitting, over 40% from renewables
Preliminary Q4 2021 Guidance
The Company is also announcing that it anticipates, based on information currently available to management, that the financial results for Q4 2021 will include the following highlights:
• Consolidated revenue expected to be in the range of $13.75 – $14.25 million
• Approximately 70,000 BSV held in treasury at the end of the quarter
• $35 million in prepaid deposits on mining equipment, power deposits, and infrastructure for future growth.
