Neptune Digital Assets to Receive Its First Order of Bitcoin Mining Machines and to Complete Private Placement
Neptune Digital Assets Corp. is pleased to announce that it has confirmed the delivery date for its first tranche of 300 of the previously announced 1,500 ASIC bitcoin mining machines. The first 300 ASIC S17s will produce approximately 50 terahash per machine, or 15 petahashes per second for the set of 300. At $0.04 per KWH of power and a 10% all-inclusive lease and maintenance fee with Link Global, there will be a profit margin of approximately USD$4,000 per day at the current Bitcoin price of $55,000 USD. Subsequent deliveries will continue as the Company scales to 1,500 units on the initial build out of Neptune Bitcoin mining operations.
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“We are very optimistic on the future of our growing revenue channels and want investors to know that we are committed to execution of these plans. We will continue to scale our mining operations to add to our existing income streams as we move through 2021,” stated Cale Moodie, CEO of Neptune.
Neptune has also arranged a private placement of units of the Company with certain directors and other investors of the Company for aggregate proceeds of $500,000 at $0.80 per unit. The Company anticipates that closing of the private placement will take place on or about March 31, 2021. Each unit issued under the private placement consists of one common share and one half of one common share purchase warrant, with each whole warrant entitling the holder to acquire one common share at a price of $1.00 for a period of three (3) years from the closing date. The Private Placement is subject to the final approval of the TSX Venture Exchange.
The Company intends to use the proceeds from the Private Placement for strategic cryptocurrency acquisitions, bitcoin mining equipment and to co-develop the previously announced 5MW renewable energy Bitcoin mining facility in Alberta, Canada. The securities sold in this Private Placement will be subject to a four-month resale restriction from the date of closing.