Link Global Technologies Commissions 8.75 MW of Generating Power and Two Mobile Data Centers, Resulting in Revenues in Excess of CAD $1 Million (Unaudited)
Vancouver, BC, Canada - TheNewswire - October 16, 2020, Link Global Technologies Inc. (CSE:LNK) (CNSX:LNK) (FRA:LGT) (OTC:LGLOF) ("LINK" or the "Company") an innovative power and infrastructure solutions provider for digital mining and data hosting operations, is pleased to announce the successful commissioning of the Company's latest semi-mobile data centers in Alberta. As a result, Link has generated over CAD $1 million (unaudited) in revenues since June 2020.
Stephen Jenkins, CEO of Link, states: "Our team has been working tirelessly to commission and optimize the sites. We are appreciative of the support and effort from everyone helping, including the principals from Block One Technologies Inc., and their team. Commissioning sites is a complicated process including the construction of new infrastructure and the entire operation cast at Link and Block One has collectively made this happen. Our immediate next steps are to optimize and winterize the sites to maximize revenues and continue to lower operational costs as we focus on expanding our power generation capacity."
Operational highlights of the last four months:
- Successful commissioning Data Centers - As previously announced on June 24, 2020, Link set out to commission and provide 6 MW of power generation to Block One Technologies. To-date, the Company has commissioned 8.5 MW of power generation over two sites in Alberta (3.75MW in eastern Alberta and 5 MW at a secondary site in western Alberta). The Company is on track to secure and provide up to 50 MW of electricity to supply the cryptocurrency mining community.
- Completed acquisition of a 25% stake in jointly owned petroleum and natural gas rights and assets in eastern Alberta for a total of $600,000, which hedges against higher commodity prices and provides Link with another source of income.
- Completed CAD $1M strategic financing from Block One Technologies with the proceeds being used for the development of capital infrastructure for mobile data centers.
- Lowered power rates by repositioning existing infrastructure from the USA and BC to Alberta with more favorable industry terms.
About Link Global Technologies Inc.
Link is engaged in the business of providing infrastructure and operating expertise for digital mining operations. Link's objectives include locating and securing, for lease and option to purchase, properties with access to low-cost reliable power, and deploying this low-cost power to conduct digital mining and supply energy and infrastructure for other data-hosting services.
On behalf of Link Global Technologies Inc.
Chief Executive Officer & Director
For more information visit http://linkglobal.io/ or contact:
Investors please contact:
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION. This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements consist of statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "forecast", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes", or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "would", "could", "should" or "might" occur. Forward-looking statements made in this news release include, but are not limited, to: statements with respect to the Company's immediate next steps to optimize and winterize the sites to maximize revenues and continue to lower operational costs as the Company focuses on expanding its power generation capacity. All such forward-looking statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. The Company cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. In the case of the Company, these risks, uncertainties, assumptions and other factors include, without limitation: those set out in the Company's most recent MD&A, fluctuations in the price of electricity, fluctuations in the price of digital currencies/Bitcoin, the future potential halving of Bitcoin, increases in the network difficulty rate and price of digital currencies/Bitcoin, negative changes in the level of digital currency/Bitcoin rewards per block, the securing of economic rates for the purchase of power, the opportunities for acquiring digital currency mining hardware, unanticipated changes in laws, regulations or other industry standards affecting the business of the Company, reliance on key management personnel, the Company's ability to implement its business plan, litigation risk, stock price volatility, the effects of general economic and other factors beyond the control of the Company, and other matters that may occur in the future. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of the date hereof. Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise.