Bluesky Confirms Receipt of Additional $1.2 Million Dollars of Strategic Mining Hardware

·4 min read

Toronto, Ontario--(Newsfile Corp. - December 1, 2021) - Bluesky Digital Assets Corp., (CSE: BTC) (CSE: BTC.PR.A) (OTCQB: BTCWF) ("Bluesky" or the "Corporation"), announced today that, consistent with its previously announced November 3, 2021 mining hardware ordered from Pandaminer for $1.2 Million Dollars CAD under an existing strategic vendor relationship with Pandaminer, this full order has now been received in Bluesky's primary mining facility.

The newly received made-to-order GPU mining rigs are expected to be put into full production within the next 15-30 days. Bluesky will perform its additional technical optimizations to ensure all hardware is mining at optimal levels. Simultaneously, the Corporation will safeguard that machine operating levels are conducive to a balance of performance, profitability, and in-service hardware longevity.

Bluesky estimates that this addition of new hardware, along with the previously announced hardware delivery on October 28, 2021 will add an additional combined 96440 MH/s of mining power to our current Ethereum (ETH) focus.

Bluesky estimates at this time, based on current market and performance values, that with this addition of mining equipment, combined with the addition of the mining equipment that was received and announced on October 28, 2021 that an additional $800,000 CAD of gross revenue will be added, per quarter, to the respective move forward quarterly periods once all of the combined equipment from the two orders is put online. This metric is based on ETH being valued at $5,550 CAD per ETH. Cost of Revenue on the $800,000 CAD is anticipated to amount to approx. $200,000 CAD per quarter.

Ben Gelfand, CEO stated: "We have yet again delivered on another material order of new mining rigs and look forward to increased revenues and growing our crypto reserves."

Anthony R. Pearlman, COO stated: "The addition of this GPU based mining equipment again extends our balanced approach of hardware mining types for diversified positioning for the crypto targets we mine. With this latest order we are testing a new Pandaminer machine that is a hashing brute and we hope to prove its value quickly so we can validate its value to our shareholders and investors and order more of this machine as we continue to increase and scale our overall mining horsepower. This entire order will be focused on Ethereum mining at this time as we continue to see this as the best bang for our buck!"

About Bluesky Digital Assets Corp.

Bluesky Digital Assets Corp, is building a high value digital currency enterprise. Bluesky mines digital currencies, such as Bitcoin and Ether, and is developing value-added technology services for the digital currency market, such as proprietary technology solutions. Offering a complete ecosystem of value-creation, Bluesky is targeting reinvesting appropriate portions of its digital currency mining profits back into its operations. A percentage of the profit will be invested in the development of a proprietary Artificial Intelligence ("AI") based technology. Overall, Bluesky takes an approach that enables the Corporation to scale, and respond to changing conditions, within the still-emerging Blockchain industry. The Corporation is poised to capture value in successive phases as this industry continues to scale.

For more information please visit Bluesky at: https://www.blueskydigitalassets.com

For further information please contact:

Mr. Ben Gelfand
CEO & Director
Bluesky Digital Assets Corp. 
T: (416) 363-3833
E: ben.gelfand@blueskydigitalassets.com 

Mr. Frank Kordy
Secretary & Director
Bluesky Digital Assets Corp.
T: (647) 466-4037
E: frank.kordy@blueskydigitalassets.com

Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward- looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release. We seek safe harbor.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106093

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