Skychain Subsidiary Reaches Agreement to Sell Cryptocurrency Miners

Skychain Technologies Inc. (TSXV: SCT) announces today that its wholly-owned subsidiary MiningSky Technologies has reached an agreement with a cryptocurrency mining design and manufacturing company on a partnership aimed at providing SkyChain brand ASIC (Application-Specific Integrated Circuit) cryptocurrency mining machines ("Miners"). With this partnership, SkyChain will be able to expand its operations and offer products to commercial customers.

After allocating many resources towards the research and development (R&D), the company is moving forward with the production of these cryptocurrency mining machines. These Miners are geared towards commercial usage, as they offer configurations and controls that are more flexible than traditional miners. This design leads to a more convenient and secured product.

SkyChain's Miners are designed for commercial blockchain infrastructure equipment services, and will come with the following features:

- Provides large commercial users with security controls to manage centralized hosting rates. This allows configurations to be applied automatically at set intervals for all equipment in the network, leading to cost savings and higher levels of security.

- Ability to automatically detect the miners' stability, i.e., record the machine's environmental facts (operating temperatures, water damage). This data can be used by hosting sites and investors to track product and service quality to improve stability and efficiency.

SkyChain's Miners will begin at mining speeds of 100 terahashes per second, rates competitive to high-end miners in the market. The company's newest Miner model offers speeds of about 100 terahashes per second (TH/s) at about 3500 watts per unit. SkyChain has signalled that the development of a more efficient 7NM Miner is also in progress.

SkyChain's subsidiary MiningSky will begin accepting orders for its model after this news release and throughout Q1 2021. For more details on the product, please visit miner.miningsky.com

About Skychain Technologies INC

Skychain Technologies is a Vancouver based company providing Blockchain Infrastructure services and power solutions. Our vision is to become a leading player in the crypto/data mining hosting by growing to 100Mw of crypto hosting capacity. To learn more, visit www.skychaintechnologiesinc.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Bill Zhang
President and CEO
Contact: 604-456-0608
info@skychaintechnologiesinc.com

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75918