Blockchain technology is the backbone of cryptocurrencies. This secure ledger system has laid the foundation for the exponential growth of Bitcoin, Ethereum and other recognized cryptocurrencies. Even traditional sectors are exploring the transformative impact and reliable security blockchain technology has to offer. Market research forecasts worldwide spending on blockchain solutions to grow to an estimated US$15.8 billion by 2023.
All of these operations require networks of decentralized computers to record transactions and archive information. With the growing need for these data centers, investors and companies big and small are turning to data centers and equipment providers to ensure they have the infrastructure needed to succeed in the cryptocurrency and data mining space.
SkyChain Technologies (TSXV:SCT,OTCQB: SKTCF) is a Vancouver-based company providing data infrastructure services and power solutions. The company operates Internet Data Centers that host mining computers, known as ASIC miners or GPUs. Although not a direct cryptocurrency mining company, SkyChain provides full-service hosting and real estate through its wholly owned subsidiary data centers.
Businesses and data mining operations are in increasing need of powerful technologies to support their work. SkyChain works to provide the necessary infrastructure to host these businesses and connect these blocks and technologies to our daily lives. This symbiotic relationship could become more normalized as essential services continue to transition to online-first models.
SkyChain’s Sherbrooke Crypto Hosting Facility is a data center located in Quebec. This 48,000 square foot asset currently generates C$12 million in annual revenues. Additionally, strategic positioning in Quebec allows SkyChain to leverage low provincial electricity prices, potential facility expandability and maximized optimization.
In February 2021, SkyChain Technologies announced preparation to expand its data center services to include edge computing data centers, which would allow for high data applications such as cloud gaming and film rendering.
“Skychain’s deep experience in cryptocurrency mining has resulted in the development of our own unique high-speed equipment, venues and energy solutions suited perfectly to edge computing,” Skychain CEO Bill Zhang stated.
Additionally, the company intends on opening a promising new location in Manitoba in 2021. The site takes advantage of the cheap provincial electricity prices and 12MW facility permits that SkyChain already has in place.
Miningsky Technology Ltd, 100 percent owned by SkyChain Technologies Inc, would be the company’s next major large scale GPU miner and miner hosting solution provider in Manitoba. The all-in cryptocurrency and data mining hosting service provider would offer an electric power supply, regular maintenance of mining machines and mining performance monitoring.
The company’s primary focus is to become a leading player in the crypto and data mining hosting space. Since 2018, the company has conducted significant research and development to reduce costs from C$500,000 per megawatt to C$150,000 per megawatt. Skychain intends on growing to 100Mw of crypto hosting capacity in the future.
SkyChain’s Company Highlights
- SkyChain Technologies operates state-of-the-art internet data centers that host ASIC miners and GPUs.
- Currently provides full-service hosting and real estate through its wholly owned subsidiary data centers.
- The company’s subsidiary data center in Sherbrooke, Quebec currently generates C$12 million in annual revenues.
- SkyChain’s expertly engineered data centers and full-service mining equipment delivery strategically position the company for expansion into edge computing for high-performance, large data markets..
- SkyChain Technologies wholly owns Miningsky Technology Ltd, which performs research and development of miningsky equipment.
- Recently entered into an agreement with Synergy Global Consulting Corp. to establish a joint venture company Skyrendering Technologies Inc. to provide premier visual effects (VFX) rendering services to the film and entertainment industry.
SkyChain’s Key Subsidiaries
Sherbrooke Crypto Hosting Facility
SkyChain’s Sherbrooke Crypto Hosting Facility is a 48,000 square foot facility in Quebec. Constructed in 2018, the asset is currently operating at 70 percent capacity, with a target to reach 100 percent in the early months of 2021. The facility leverages Quebec’s excellent infrastructure and cheap electricity prices, offering 7 cents per kilowatt hosting services fees.
Internal operations host professionally designed ventilation through negative pressure shedding fans as well as a SCADA load shedding system, overnight security and 20 megawatt power consumption.
SkyChain’s collection of high-speed equipment and energy solutions primes the company for expansion into edge computing for high-performance data services. Likewise, the company’s state-of-the-art facilities strategically position the company to access new revenue sources with minimal upgrade and potential scalability costs. It hosts 5,000 miners and counting in current operations.
Miningsky Technology Ltd. — Manitoba Hosting Location
SkyChain’s prospective 12 megawatt Manitoba crypto hosting site is expected to open in 2021. Miningsky Technology Ltd. is 100 percent owned by SkyChain and provides the company with the potential for research and development, lab testing for new industries, and new revenue sources with Miningsky’s power and energy equipment.
Manitoba is an exciting jurisdiction to operate out of for Miningsky due to the cheap electricity and cold weather. SkyChain presently has all permits in place and has completed its due diligence in Manitoba with electricity costs of C$0.0467. Miningsky has fully customized and stabilized high-performance GPU miners, reliable miner hosting and energy solutions and rapid deployment with scalability.
SkyChain’s Management Team
Bill Zhang — President, CEO & Director
Bill Zhang is the architect behind Miningsky. He is the visionary that keeps Miningsky moving forward. With decades of comprehensive IT and Cloud computing experience, Zhang possesses an extensive network of working relationships that place Miningsky in a leading position in the rapidly evolving crypto industry.
Don Gordon — CFO & Director
Don Gordon has over 30 years of experience in the corporate financial analysis and business development sectors. He is currently self-employed as DAG Consulting Corp’s an independent corporate finance and due diligence consultant. Gordon is active in corporate and professional associations, involving liaison with institutional investors and fund managers. In the past 10 years, DAG Consulting has been instrumental in listing and financing over 30 public companies.
Xi (Walson) Wang — Director
Xi Wang has over 15 years of experience in management roles and has developed a broad skill set, including overseeing business operations, negotiating with vendors, developing lasting business relationships and achieving sales and revenue goals. Wang has been the president of It Asset Partners Inc. since 2013 and has designed a custom enterprise resource planning system, which helped to improve the flexibility and efficiency of operation. He led the cloud server management team and played a vital role in forging relationships and obtaining contracts with Lenovo, Nintendo, Acer, Avnet, Sprint and Time Warner Cable.
Tang Tang — Director
Tang Tang brings eight years of marketing and financial experience to SkyChain Technologies, providing innovative counsel on current technology trends. She obtained her Bachelor’s degree in Commerce from Peter B. Gustavson School of Business, University of Victoria.
Frederick Jung — Director
Mr. Jung will provide financial guidance to Skychain to continue the growth of its business operations. He is currently the Chief Financial Officer of Solar Flow-Through Funds. Mr. Jung’s extensive in corporate finance and strategic planning will be an invaluable contribution to Skychain Technologies Inc.
Kym Anthony — Advisor, Financial and Capital Markets
Mr. Anthony provides Skychain with extensive experience in financial markets. His career of more than 30 years includes roles as Chairman and CEO of TD Securities, Vice-Chair of Toronto Dominion Bank and President and CEO of National Bank Financial. Mr. Anthony also gained investment banking experience with CIBC/Wood Gundy and the Investment Dealers Association of Canada.
*Disclaimer: This profile is sponsored by SkyChain Technologies (TSXV:SCT,OTCQB: SKTCF). This profile provides information which was sourced by the Investing News Network (INN) and approved by Skychain Technologies in order to help investors learn more about the company. Skychain Technologies is a client of INN. The company’s campaign fees pay for INN to create and update this profile.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Skychain Technologies and seek advice from a qualified investment advisor.
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