Graph Blockchain Inc. is pleased to announce that through its wholly owned cryptocurrency subsidiary, Babbage Mining Corp., the Company has deployed additional capital of CAD $2 million.
Graph Blockchain Inc. (CSE: GBLC) (OTC Pink: REGRF) (“Graph” or the “Company”) is pleased to announce that through its wholly owned cryptocurrency subsidiary, Babbage Mining Corp. (“Babbage”), the Company has deployed additional capital of CAD $2 million.
The Company has allocated $1,500,000 of its staking capital with $1,000,000 into the Polkadot (“DOT Token”) and $500,000 into the Cardano (“ADA Token”) on April 5, 2021 to increase its position. The Company will have a further announcement on the deployment of the additional $500,000 on notification that the order has been executed. The Company anticipates additional information will be provided as the projects develop and progress through buying phases.
Paul Haber, CEO of Graph Blockchain Inc. commented, “The Babbage team has been closely reviewing different tokens and we are excited to announce these acquisitions today to further deploy the Company’s capital. As we expand the crypto portfolio, Graph’s value add will include the ability going forward to leverage the crypto acquisitions into building a diversified crypto enterprise within a public company.”
Cardano is a proof-of-stake blockchain platform created in 2017 by Charles Hoskinson, CEO of IOHK and a cofounder of Ethereum. Cardano has been built using peer-reviewed research and true scientific method to address scalability, interoperability, and sustainability. It is an open-source network that focuses on its background of academic research and positions itself as the first “third-generation” cryptocurrency, following after Bitcoin and Ethereum. As of today’s date, the ADA Token is ranked 6th largest cryptocurrency by market capitalization and is one of the most promising smart contract platforms in the space.
Created by Dr. Gavin Wood, the ex-CTO, and a cofounder of Ethereum, the DOT Token enables blockchain networks to work together by stacking other protocols on its base layer. It provides a secure solution that is self-governing, easily upgradable and scales well. Giving other protocols a ground work to build specialized solutions with a variety of functions, perhaps most importantly interoperability between blockchains, including Bitcoin and Ethereum. Through this bridge to Ethereum, it is widely believed the DOT Token is likely to have a serious impact on Ethereum’s market share and as of today’s date is ranked 5th largest cryptocurrency by market capitalization.
About Graph Blockchain Inc.
The Company is a blockchain development company that provides high performance blockchain solutions that include graphic data analysis and consulting services, implementation of data mining analysis through the use of graph databases and speed enhancements of blockchain control systems for businesses and government. This includes the Babbage Mining Corp. which will focus on altcoins, alternative cryptocurrencies to Bitcoin. Graph will be the first publicly tradable altcoin Proof of Stake (“POS”) miner, which will generate revenue while providing exposure to several top digital assets by market capitalization.
By mining altcoins through Proof of Stake, Babbage can provide to its investors exposure to the vast emerging market of cryptocurrencies with the significant technological disruption and potential gains that altcoins represent.
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Forward Looking Statements
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Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events, or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.