HashChain is running a hundred cryptocurrency mining Rigs (“Rigs”) from their Vancouver facts middle, with an extra 770 Rigs presently being configured on the Company’s 20-megawatt (MW) Montana, USA facility (“Montana Facility”). Upon anticipated deployment in early March 2018, HashChain may be mining DASH and Bitcoin with a complete of 870 Rigs at 1.23 MW of computing electricity in perfect situations to maximize return on investment. As previously disclosed, the Company has also purchased 3,000 Rigs, a good way to be obtained at the Montana Facility in two shipments of two,000 and 1,000 with the aid of quit of March and April, respectively. In May 2018, the hash chain estimated 3,870 Rigs would be deployed with approximately five.8 MW dedicated to mining.
DASH Master node
HashChain purchased 1,000 DASH cryptocurrencies in October 2017, the quantity required to be maintained in a pocket to turn out to be a master node. As a master node, a hash chain can vote on projects and essential selection concerning the future of DASH, in addition to facilitating anonymous (“privatized”) and instantaneous transactions (“InstantSend”) at the blockchain that forestalls double-spending and gets rid of bottleneck regularly displayed in “proof-of-paintings” blockchains. The DASH community currently rewards every master node holder 6—sixty-seven DASH consistent with month, or .22 DASH in keeping with the day. As part of the purchase of the NODE40 enterprise, NODE40 will pay to HashChain sure master node rewards for a complete period of 36 months following the ultimate, after which this revenue circulation will end.
Overall, the hash chain will get hold of approximately 880 coins per year for three years, equating to total revenue of $693,590 CDN consistent with a year on the modern DASH-to-CDN conversion fee of $788.17 CDN for February 23, 2018 (supply coinmarketcap.Com). The Company will no longer be receiving CDN (or any other fiat forex) due to the Company’s plans now not to transform the Dash from the master node into Fiat and till the Company’s plans trade, at which time there can be no assurances that the fee of Dash will no longer extensively lower due to its price volatility or that the Dash might be converted into CDN (or some other fiat forex) at that point.
NODE40 Balance is a blockchain accounting, and tax software that allows cryptocurrency coin holders to conduct correct tax compliance by studying the blockchain to calculate precise internet values from each transaction tracks the price basis and days carried. Balance can then produce a worksheet withwith a CPA and, without difficulty, reported to tax authorities around the sector. On February 7, 2018, the hash chain incorporated the software with Coinbase, the biggest global virtual forex with over 13 million customers (Source: CoinDesk and Coinbase).
This enlargement permits Balance to help coin holders document gains and losses for five main cryptocurrencies, Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and DASH. Whilst there’s no formal agreement between NODE40 and Coinbase, the NODE40 Balance addition way Coinbase account holders can request and import their personal statistics and transaction records onto a like-minded piece of a software program. HashChain plans to amplify its software program strategy to additional exchanges and digital currencies close to destiny.
NODE40 Master node Hosting
NODE40 also provides DASH master node website hosting services with NODE40 Hosting. The website hosting carrier runs and manages cryptocurrency traders’ master nodes, soaking up the requirements of technical demanding situations and time. Master nodes are complete blockchain nodes that run the DASH blockchain and provide services to the community, locking transactions with InstantSend and balloting on financial investment. NODE40 is exploring other cryptocurrencies that use master nodes, which is a good way to integrate into their website hosting platform. Monthly hosting has been developing at a pace of 20 percent and keeps to offer economic blessings to the Company.
“In only some months of operation, the hash chain has grown considerably as an agency by way of last diligent and targeted on swiftly expanding our mining operations, and diversifying our commercial enterprise to emerge as a multi-field blockchain business enterprise,” says Patrick Gray, CEO of the hash chain. “Our investments in massive extent mining ideally positioned, software that aids crypto traders in navigating an impending regulatory environment, and master node corporations vicinity the Company in a robust function to supply on our aim of increasing Hashchain’s scope of blockchain-based totally groups.”
About HashChain Technology Inc.
HashChain is a blockchain organization and the first publicly traded (TSXV: KASH: OTCQB: HSSHF) Canadian cryptocurrency mining organization to document a very last prospectus assisting enormously scalable and flexible mining operations across all major cryptocurrencies. HashChain taps low-priced North American energy, cool climate, and the excessive-velocity Internet: the trifecta maximum crucial to mining achievement, to create an aggressive role for maximizing the variety of mining ‘wins.’ HashChain presently operates 100 DASH mining Rigs, have obtained 770 Bitcoin Rigs, and has bought an additional 3,000 Rigs. Once all Rigs are operational, HashChain will be ingesting about five.8 megawatts of electricity.
HashChain additionally acquired a DASH Master node for approximately USD 280,000, which calls for a collateral investment of one,000 DASH coins. Diversifying their commercial enterprise strategy past crypto mining, the corporation recently received NODE40, a blockchain era agency that developed NODE40 Balance, a new SaaS product making cryptocurrency tax reporting less complicated and extra accurate. The solution lets cryptocurrency customers and traders correctly file their capital gains and losses. NODE40 is likewise one of the main master node server-web hosting companies for the DASH community and is looking for alternate coin master node hosting.
HashChain Mining is an entirely owned HashChain Technology Inc. Primarily based out of Albany, New York, with workplaces in Vancouver, , and Geneva, Switzerland. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that time period is defined within the rules of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Statements: Certain disclosure on this launch, which include statements regarding the overall performance of the Company’s present-day and ordered Rigs, and expectations regarding destiny operations, may additionally represent forward-searching statements.
In making the forward-searching statements in this release, the Company has carried out certain elements and assumptions which can be primarily based on the Company’s present-day ideals as well as assumptions made by using and information currently available to the Company, the three,000 Rigs might be correctly introduced, and the three,000 Rigs will carry out as expected using control. Although the Company considers these assumptions to be affordable based totally on data presently available to it, they’ll show to be incorrect, and the ahead-searching statements on this launch are a problem with numerous risks, uncertainties, and other factors that could motive destiny effects to vary materially from those expressed or implied in such ahead-searching statements.
Such chance elements may additionally consist of, among others, the risk that the 3,000 Rigs will now not be effectively delivered to the Company when predicted by using management or in any respect, and the threat that the Company’s contemporary and ordered Rigs will no longer perform as expected by way of control. Readers are recommended now not to area undue reliance on ahead-searching statements. The Company no longer intends and expressly disclaims any purpose or responsibility to replace or revise any forward-searching statements whether or not as a result of latest facts, destiny occasions, or in any other case, besides as required via regulation.