Neptune Digital Assets Corp. a cryptocurrency and Blockchain investment leader in Canada, have signed a letter of intent with Link Global Technologies Inc. to co-develop a 5MW renewable energy Bitcoin mining facility in Alberta, Canada. This agreement follows shortly after a separate partnership on March 4, 2021 with Link to procure and operate 1500 ASIC mining machines for Neptune at their existing facilities.
The new mining facility is a 50/50 joint venture between LINK and Neptune, sharing equally in both costs and revenues. This site will be solar, wind and natural gas powered.
“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 low cost, carbon-neutral mining and tapping available carbon credits for exchange in that burgeoning marketplace,” stated Cale Moodie, Neptune’s CEO.
Link President and Chief Executive Officer Stephen Jenkins commented, “This push for more renewable energy is wonderful, it’s necessary 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 a green one. We look at this as the beginning to expand our footprint into renewable energy projects for digital currency mining.”
The Company will also be filing its consolidated condensed interim financial statements for the six-month period ended February 28, 2021 and associated management discussion and analysis today under the Company’s profile on SEDAR at www.sedar.com, highlighting 200% balance sheet growth and record setting comprehensive net income of over $6 million for Q2.