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HashChain (OTC:HSSHF) to receive 6,000 additional mining rigs

Tony Zerucha

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HashChain (TSXV:KASH) (OTC:HSSHF) announced this week it expects to receive their shipment of 6,000 rigs later this week, with deployment to be completed by the end of July. Upon deployment of these latest rigs, HashChain will have 9,495 in operation for 14 megawatts of computing power. In all, 9,395 Rigs will be mining Bitcoin and 100 will be mining Dash.

“By the end of next month, we expect HashChain to have deployed approximately 9,500 Rigs in just eight months since being listed on the TSXV,” says Patrick Gray, CEO and founder of HashChain. “The catalyst to the company’s rapid growth in the cryptocurrency mining space is our ability to acquire a large repository of rigs and run them in low cost, low temperature environments. As the second half of 2018 begins, HashChain remains committed to scaling the growth of our mining operation even further.”

The current 3,495 rigs mined 39.3 Bitcoin and 15.9 Dash over the 16-day period ending June 24. Based on coinmarketcap.com prices for both digital currencies on June 24, 2018 HashChain accumulated a value of CAD $302,649 from Bitcoin and CAD $4,786 from Dash.

HashChain notes there are material costs associated with mining and it will need to complete its next quarterly financial statements to have complete details. The company will report full costs associated with mining in its financial statements. At this time, HashChain has not converted the new cryptocurrencies into fiat.

Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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