HashChain Technology Receives Shipment of 3,000 Cryptocurrency Mining Rigs in Montana Facility

HashChain Technology Inc. (“HashChain” or the “Company”) (TSXV: KASH; OTCQB: HSSHF) today announced the arrival of 3,000 mining Rigs (“Rigs”) to the Company’s Montana, USA mining facility (“Montana Facility”), as part of the purchase order announced in the Company’s January 4, 2018 news release. Of that received shipment, 1,000 Rigs have been deployed giving the Company a combined total of 1,870 rigs operating. With all 3,870 Rigs operating, HashChain will be operating with a total of approximately 5.8 MW of power.

On November 3, 2017, HashChain commenced mining with 100 Rigs in its Vancouver data centre exclusively for mining Dash cryptocurrency.  On March 8, 2018, the Company deployed an additional 770 Rigs currently focused on mining Bitcoin in its 20MW Montana facility to operate at 1.28 MW. The 870 combined Rigs mined 4.97 BTC and 3.89 DASH for a gross revenue of CAD $53,642 over the week of March 8-14, 2018, based on coinmarketcap.com prices on March 28th.

HashChain notes there are material costs associated with mining and it will need to complete its next quarterly financial statements to have complete details on such costs. The Company will report full details on its costs associated with mining in its financial statements. At this time the Company has not converted the Bitcoin and Dash into fiat currency.

“HashChain continues to diversify our business strategy to include other blockchain-related software and services, and we remain dedicated to mining sector,” says Patrick Gray, CEO and founder of HashChain. “The Company’s unique ability to quickly order and receive large quantities of Rigs helps us scale at an accelerated rate in ideal mining locations to reduce operational expenditure and ensure ROI on coin mined.”

A “Rig” is a high-performance computer system used for cryptocurrency Mining. “Mining” is the process in which individuals solve complex, computation puzzles to confirm transactions to be added on a blockchain. Miners who successfully complete the mining process earn a reward in the form of cryptocurrency or other blockchain coin or token.

The Company retains the ability to acquire up to an additional 2,000 Rigs pursuant to the purchase order for up to a total of 5,000 Rigs, and will make a decision regarding the potential acquisition of the remaining Rigs in the coming months.