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Blockchain Power Trust (OTC:TNSTF) reports year-end highlights

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Blockchain Power Trust (TSXV: BPWR.UN) (OTC:TNSTF), formerly known as the Trust, recently released its audited financial results for the year ended Dec. 31, 2017.

Highlights of the year include the acquisition of OMV Petrom Wind Power SRL, a wind park located in Dobrogea County, Romania, for $30.7 million Canadian. Total energy production of 173,699 MW hours (MWh) from the Trust’s energy projects for the year includes the pre-acquisition production from OMV.

Discounting OMV’s production, Blockchain Power Trust produced 75,865 MWh of energy in 2017, generating revenue of $3 million with $3.2 million from the sale of electricity and $9.1 million from the sale of green certificates. The company earned an operating margin (revenues less operating expenses) of $5 million, an increase of 44% over 2016 where the operating margin was $5.9 million (including reconciliation procedures).

“We are very pleased with what we accomplished in 2017 and year-to-date with the Trust. With the addition of the OMV wind project at the end of 2017 and completion of our financing in January, we have approximately doubled our power generation capacity and at the same time materially reduced our indebtedness,” said J. Colter Eadie, Chief Executive Officer of Blockchain Power Trust. “We now have a platform to integrate cryptocurrency mining as part of our strategy in an effort to maximize the value received for the power we generate. We have also commenced the installation of the recently acquired cryptocurrency mining assets with an aggregate hashpower of 27.8 PH/s which is expected to be fully commissioned shortly.”

In January 2018, Blockchain Power Trust closed a $43.2 million private placement, redeemed all of its outstanding $31.4 million principal amount of 7.5% unsecured convertible debentures, and repaid principal, accumulated interest and fees on certain promissory notes, bridge loans, and other liabilities in the aggregate amount of $10.7 million with units of the Trust.

Blockchain Power Trust, through its direct and indirect subsidiaries in Canada, the Netherlands and Romania, acquires interests in renewable energy, blockchain and cryptocurrency related assets in Romania, other countries in Europe and abroad that can provide stable cash flow and a suitable risk-adjusted return on investment. It seeks to provide investors with long-term, stable value creation, while preserving the capital value of its investment portfolio through investment in a range of operational green energy, blockchain and cryptocurrency related assets.

Information about Blockchain Power Trust can be found at www.sedar.com.

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