TSXV: CSTR
Highlights of the proposed Transaction:
- Under the terms of the LOI, it is anticipated that
CryptoStar and the Vendor will enter into a binding agreement (the "Definitive Agreement") pursuant to which the Vendor will deliver GPU miners (containing the latest generation GeForce RTX 3000 Series GPU cards), capable of a combined minimum total Hashrate of 85,680 MH/s. - The deployment of 85,680 MH/s of Hashrate using the latest generation GPU miners is expected to contribute 142.80 ETH or
USD$145,473.22 per month in self-mining revenue forCryptoStar .CryptoStar plans to continue to expand its self-mining inventory of mining hardware. (Source: https://www.cryptocompare.com/mining/calculator/eth. Mining metrics are calculated based on a network hash rate of 351,248 GH/s and using the ETH - USD exchange rate of 1 ETH =$1,018.72 updated at 2021-01-1300:27:05 UTC ). - GPU miners are capable of mining cryptocurrencies like Ethereum's ether (ETH), Ethereum Classic (ETC), Zcash (ZEC), Monero (XMR) and many others.
- The agreed upon aggregate consideration under the proposed Transaction will be satisfied by the issuance of 20,000,000 common shares of
CryptoStar at a deemed value ofC$0.10 per Share (which includes finder's fees of 1,132,075 common shares) subject to acceptance by theTSX Venture Exchange (the "TSXV"). - Upon entering into the Definitive Agreement, it is anticipated that the GPU miners will be delivered to
CryptoStar's data centres within 14 days.
Completion of the proposed Transaction is subject to TSXV approval.
About
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
Forward-Looking Statements
This news release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as, "expects", "is expected", "anticipates", "intends", "believes", or variations of such words and phrases or state that certain actions, events or results "may" or "will" be taken, occur or be achieved. Forward-looking statements include those relating to completion of the Transaction including approval of the TSXV thereof, the payment of a finder's fee, entering into the Definitive Agreement and the terms thereof, the time to deliver of the GPU miners, the expected revenue generating capabilities of the GPU miners and
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