August 15, 2021 (Global News Distribution) -
- Signed a Definitive Agreement following up on the term sheet signed June 24, 2021
- Link will lead the design, build and operation of the facility
- GSV will provide the financing and will assist with the operation
- This agreement includes power purchase plus BTC mining royalties
- Groundwork is scheduled to begin in early September 2021
- The estimated output of the machines once commissioned are 270 Petahash near the end of Q3, with an optional 270 Petahash in Q4, for a total of 540 Petahash
LINK GLOBAL TECHNOLOGIES INC. (CSE: LNK)(FRA: LGT)(OTC PINK: LGLOF) (‘LINK’ or the ‘Company’), innovative power and infrastructure solutions provider for Bitcoin mining, and data hosting operations, is pleased to announce that the Company has finalized its strategic co-mining agreement (the “Agreement”) with North American cryptocurrency mining company Mission World Group and its subsidiary GSV Futures Inc. (“GSV”). Pursuant to the terms of the agreement, the Company will develop certain premises (the “Premises”) for GSV to operate approximately 3,000 Bitcoin mining units (the “Miners”). The Company will also provide maintenance of the premises for a term of three years. This is an arms-length transaction between GSV Futures and Link Global.
Under the terms of the Definitive Agreement, Link will design, build and operate the infrastructure for the operation of the Miners and will also provide management services necessary to maintain 98% uptime on the Miners. In consideration of these services, Link will work with GSV to achieve competitive rates for power and receive a profit share of mined coins. It is expected that the miners will be delivered and installed during the third and fourth quarters of this year.
Estimated Calendar Miner Delivery Dates
- Q3/2021: 3,000 Miners
- Q4/2021: Optional 3,000 Miners
Link President and Chief Executive Officer Stephen Jenkins commented, “We are happy to have GSV co-developing and partnering with us to operate such a significant number of machines. This agreement is estimated to generate up to $5.75 million USD in cash and BTC annually to Link.”
Mission World Group Chairman and GSV Futures Inc. Chief Executive Officer Chuang Simon Liu comment, “We are excited to be working with Link Global Technologies Inc. We plan to build up to 80MW in Canadian operation by the end of 2021. As a team, we can move quickly and efficiently to get miners online and recognizing revenue for all parties.”
About Mission World Group and subsidiary GSV Futures Inc.
Mission World Group and subsidiary GSV futures Inc. offer a broad range of value-added services including ASIC mining, high-performance computing, hosting, and cloud services. The private company is considered one of the largest and most efficient service providers in data computing and cryptocurrency mining with green energy.
About Link Global Technologies Inc.
Link is engaged in providing infrastructure and operating expertise for digital mining and data hosting operations. Link’s objectives include locating and securing, for lease and option to purchase, properties with access to low-cost, reliable power, and deploying this low-cost power to conduct digital mining and supply clean energy and infrastructure for other data-hosting services.
On behalf of Link Global Technologies Inc.
Chief Executive Officer & Director
For more information, visit http://linkglobal.io/ or contact:
For investor information, please contact:
Investor Relations Manager
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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