Global Care Capital Provides Bitcoin Production and Mining Operations Update for ASIC Power Company
VANCOUVER, British Columbia, Nov. 16, 2021 (GLOBE NEWSWIRE) -- Global Care Capital Inc. (CSE: HLTH, FRANKFURT: L6V2) (the “Company” or “Global Care”) a global investment company which engages in early-stage investment opportunities in private and public companies, is pleased to provide an update for its 100% owned portfolio company, ASIC Power Company (“ASIC Power”).
- ASIC Power’s Q3 2021 Average Monthly Bitcoin (“BTC”) Production Increases to 1.3 BTC, up 65% over Q2 2021
BTC Monthly Production
ASIC Power Mining Operations Update
ASIC Power currently receives a royalty revenue equal to a hashing power of 5.5 PH/s, equivalent to a mined total of 6.55600715 BTC or CAD$537,079.12 using a current market price of CAD$81,921.68 per BTC. At this rate, it is anticipated the Company will break even on its investment in less than twelve months with a projected three additional years of remaining upside. The expected annual revenue from this investment is estimated to be approximately CAD$1,050,000 based on a current BTC price of CAD$81,921.68.
This Sunday on November 14. 2021, the long-awaited Bitcoin soft fork upgrade activated on block 709,632. “Taproot will set the next phase of innovation in the bitcoin protocol, enabling the potential for smart contracts, increased privacy for certain transactions and lower costs through Schnorr signatures”, said Daniel Novak, CEO of ASIC Power. Schnorr Signatures can be used to combine multiple signatures into one, allowing to reduce the amount of data stored on the blockchain therefore reducing energy consumption.
About ASIC Power Company
ASIC gives mining companies access to its innovative cryptocurrency mining streaming contracts and chip pipeline through its partnerships with leading hardware producers. It intends to identify low cost, renewably powered mining operations to implement new financing strategies in the form of royalties and streaming contracts globally.
For more information and to register to ASIC’s mailing list and follow @asicpower on Twitter.
About Global Care
Global Care Capital is a global investment company which specializes in providing early-stage financing to private and public companies. The Company engages in new, early-stage investment opportunities in previously underdeveloped assets and obtaining positions in early-stage investment opportunities that adequately reflect the risk profile.
GLOBAL CARE CAPITAL INC.:
Alex Somjen, President & CEO
All information contained in this news release with respect to ASIC Power was supplied by ASIC Power for inclusion herein, and Global Care’s directors and officers have relied on ASIC Power for such information.
Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com
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