Advancing Cryptocurrency Mining in North America
HashChain Technology Inc. (TSXV:KASH, OTCQB:HSSHF) is a blockchain technology company dedicated to blockchain-related business and services, including mining various cryptocurrencies through proprietary technology, a blockchain tax software solution and masternode Hosting services.
The creation of Bitcoin introduced the cryptocurrency market, which has grown to include many different tokens. The majority of cryptocurrencies are transacted across a decentralized network, or blockchain, in which they are verified by users on the network, otherwise known as “miners”. To incentivize miners who lend computing power to verify transactions on the blockchain, they compete to solve a cryptographic puzzle that determines who transcribes transactions on the block. The first to solve this puzzle is rewarded with newly minted currency.
With the goal of mining a diversified portfolio of cryptocurrencies, HashChain Technology launched its first data center with 100 Rigs in Vancouver in November 2018, dedicated to mining Dash coin. Since the launch, HashChain has deployed 8,495 operational rigs across Vancouver, Montana and Buffalo and will be deploying an additional 3,500 rigs in the near future, bringing their total up to 11,995 Rigs.
In February 2018, HashChain took the first step in achieving its expansion goals beyond mining through the acquisition of NODE40, a blockchain technology company. NODE40 developed a cryptocurrency accounting software. In May 2018, HashChain acquired the NodeMonitor.io software which monitors and tracks incentivized blockchains using masternodes as a way to verify transactions. With the acquisition of the NODE40 and NodeMonitor.io software, HashChain announced that it intends to spin-off their NODE40 holdings into a separate company that will solely focus on the tax and accounting software as well as other disruptive blockchain technologies..
- Profitable 100-rig data center launched in Vancouver mining Dash cryptocurrency.
- Has deployed 8,495 Rigs so far and expects to launch an additional 3,500 Rigs in the near future totalling 11,995 rigs that will use approximately 17.5 MW of power to run.
- Acquisition of NODE40, a blockchain technology company, adding three more revenue streams, including a cryptocurrency accounting software and masternode hosting service.
- Acquired NodeMonitor.io, a software that tracks and monitors incentivized blockchains using masternodes.
- Raised $29.7 million in bought deal.
- $4.4 million funding raised before launch of first data center.