Toronto, Ontario–(Newsfile Corp. – September 7, 2021) – Bluesky Digital Assets Corp., (CSE: BTC) (CSE: BTC.PR.A) (OTCQB: BTCWF) (“Bluesky” or the “Corporation”) announced today that the Corporation had mined an implied and combined unaudited total of $407,175 CDN worth of cryptocurrencies for the month of August which was achieved via the mining of 3.43 Bitcoin (“BTC”) and via the mining of 51.57 of Ethereum (“ETH”). For further clarification, implied valuations are based on the booking price of the virtual associated cryptocurrency value at the time the mining reward is realized by the Corporation from its mining activities.
The implied valuation of the BTC amounted to $207,467 CDN and the implied valuation of the ETH amounted to $199,708 CDN for the month of August. The Corporation averaged a daily mining rate of approximately 1.66 ETH and 0.11 BTC per day in August. The percentage split on mining was almost evenly split at 50.1% BTC and 49.9% ETH. Costs associated in the mining of the 3.43 BTC and 51.57 ETH for the month of August amounted to approx. $75,000 CDN.
The Corporation achieved a $13,134 CDN gross mining average per day from its active mining operations in August vs. the $10,200 CDN gross mining average per day achieved in the month of July which represented a solid 28.7% increase over July’s daily total.
As At August 31, 2021, the Corporation held $1,457,182 CDN in unsold cryptocurrencies which represented a 370% increase over the $309,659 CDN that the Corporation held in its unsold cryptocurrency reserve at the end of Q2, 2021. As At August 31, 2021 the reserve comprised of 9.115 BTC and 190.07 ETH.
Ben Gelfand, CEO stated: “Based on the current overall trend the Corporation is currently on pace to mine $1M CDN in cryptocurrencies in Q3 as the Corporation needs to mine an additional $285K CDN in the month of September to achieve the $1M CDN mark. The Management team feels strongly that the additional $285K CDN worth of cryptocurrencies targeted to be mined in September is attainable, and if realized, it would be the first quarter in the Corporation’s history where $1M CDN from mining operations was realized. The quarter over quarter, and month over month increases reflect in part the internal efficiencies and methods that the Corporation has developed in-house and deployed in the production environment. The Management team is diligently working on leveraging current positive trending market values and increasing the Corporation’s unsold cryptocurrency reserve. The Management team is also raising its priority to further expand the Corporation’s active mining operations by acquiring additional mining equipment. The acquisition, and move to production, of new mining hardware tightly aligns to ongoing facility expansion plans to be reported on in the coming quarters.”
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
Mr. Frank Kordy
Secretary & Director
Bluesky Digital Assets Corp.
T: (647) 466-4037
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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