Canadian tech firm purchases cryptocurrency mining firm

posted 5 months ago
HyperBlock has acquired CryptoGlobal, giving the firm thousands of mining rigs.

The agreement is worth approximately $106M and the merger has an anticipated completion date of May 2018.

HyperBlock founder Sean Walsh said "We are poised to become a global leader and consolidator in cryptocurrency mining and asset management."

The combined company will operate over 21,000 mining servers and will utilize 28 MW of power to mine cryptocurrencies in the US and Canada. According to HyperBlock, there is potential to extend to over 90 MW in the future.

HyperBlock Technologies will offer Mining-as-a Service (MAAS), server hosting, self-mining, server sales, cryptocurrency storage and trading, as well as a "SaaS-based cryptocurrency insights platform."
Tags: bitcoin, news