Hello Pal International Inc. a provider of rapidly growing international live-streaming, language learning and social-crypto platform, is pleased to provide an update on the much-anticipated Crypto Pal app and its Litecoin and Dogecoin mining operations (“Mining Operations”).
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Approximately one-third of the company’s LTC miners are operating in various locations via clean renewable hydro power. Due to current seasonality advantages, there is currently excess power not being consumed, nor sent to a grid. The Company will continue to scale up mining operations with the assistance from Yitang in various locations that offer similar economics both in China and other international locations.
The Mining Operations’ current gross profit margin is 73%. For additional information on current mining operations please refer to our previous News Release on July 12th. The acquisition of Crypto Pal was struck against a Dogecoin price of $0.055 USD and currently provides a strong margin via coin generation.
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The Crypto Pal app has been in development by the Hello Pal team in Hangzhou, and is expected to launch soon in the coming months, upon the expectation that the Mining Operations will reach its intended near-full capacity by next month. Crypto Pal will be a stand-alone app that serves to enhance the Livestreaming service and entire Hello Pal Platform.
Crypto Pal’s most fundamental feature will be its digital wallet which the Company expects will facilitate the first cryptocurrency experience by most of its users. Apart from occasional promotional activities and airdrops of Dogecoin, the Company will allow users to earn Dogecoin and other cryptocurrencies through user activities that increase user-to-user interaction as well as user retention and time spent on the platform. Depending on how cryptocurrency mining regulations evolve in the relevant parts of the world, Crypto Pal is also expected to eventually give an opportunity to users to participate in cryptocurrency mining too.
“We are very excited with this unique opportunity to integrate cryptocurrency with our existing international livestreaming community with the upcoming launch of Crypto Pal, said Adega Zhou, President of the Company. “The ability to transfer value between users across international borders in an easy and efficient way is something that will greatly benefit our users and our entire platform.”
In addition, the Company anticipates reintroducing Language Pal later this year.
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