HyperBlock Reports Q2 Revenue of C$10.1M

HyperBlock (CSE:HYPR) has announced its second quarter expected EBITDA of roughly C$3 million for its predeccor comapnes, HyperBlock Technologies, Project Northwest and CryptoGlobal. Combined, the quarter revenue was C$10.1 millon.

As quoted in the press release:

HyperBlock Inc. formed on July 10, 2018 following the business combination of HyperBlock Technologies Corp., CryptoGlobal and Project Northwest — and recently began trading on the Canadian Securities Exchange under the symbol HYPR.

HyperBlock Well-Positioned to Navigate Challenging Market Conditions
“HyperBlock believes the strength of the company is driven by managing costs and continuing to operate a diversified business,” says HyperBlock CEO Sean Walsh, who has been involved in large-scale cryptocurrency mining since 2013.

According to Walsh, HyperBlock is relying on its key advantages to weather tough market conditions:

• Ability to economize on operating expenses, post-merger
• Flexibility to migrate cryptocurrency servers from Canada to Project Northwest, its US datacenter — where approximately 2000 servers have been (or are in the process of) being relocated
• Long-term Project Northwest power agreement with average current pricing of USD 3.3 cents

Click here to read the full press release.