Cryptobontix Launches 5500 Crypto-Mining Rigs for Token Backing
NEW YORK, May 08, 2018 (GLOBE NEWSWIRE) -- Arbitrade Ltd. is happy to announce that it is rolling out with their long-awaited launch plans and starting to reveal their operational plans of the past couple years. Arbitrade will commence its mining operations with Hayden Gill from Coin Miner LLC as the company's leading advisor and consultant. Mr. Gill has been in the cryptocurrency mining sector for many years and has become one of the leading advisors in North America.
Coin Miner LLC, a global leader in blockchain transaction processing (mining) infrastructure and hardware supply, has just completed a sale of another 5500 ASIC mining units to support Arbitrade's first two tokens, Dignity (DIG on Livecoin.net) and Reciprocation (ECHO on Livecoin.net). This purchase of ASICs will continue to diversify the Arbitrade mining portfolio with Algorithms including SHA-256, Scrypt, Blake (14r) and Blake (2b). The units are expected to start deployment in about 2 weeks from 3 of the main cryptocurrency mining rig suppliers and finishing by mid-June in a top tier Atlanta collocation facility.
The Watford Ontario facility is still in the build out phase of the property and currently has 2300 mining rigs from Bitmain, Halong, and Canada Computers in inventory and waiting to be deployed once the electrical permits pass through the city building inspectors. After recent meetings with the Watford town council representatives and building inspectors, this process could require another 4 weeks before the mining rigs can be deployed and operating from the Arbitrade/Cryptotopic Industries Ontario property. For this reason, Mr. Gill advised Arbitrade to acquire additional data collocation facilities so that there is a way to immediately deploy vast numbers of mining rigs to start achieving the company's end goal to have 65,000+ mining rigs online by year end.
Coin Miner has already been approved for finances and is working on procuring the next 15000 miners to support the next three tokens, Namaste (NAM), Orectic (ORE) and Honor (HNR). Hayden Gill has been quoted as saying, "As the lead mining consultant and advisor to the Arbitrade team I can confirm the mining project is ramping up to be one the most secure and innovative designs globally. Our state of the art designs effectively address heat dispersion, site security, energy efficiency and facility safety. The commitment by the Arbitrade board to purchasing the needed hardware and building proper mining infrastructure will give Arbitrade a mining operation that can stand up against the top mining operators globally."
The purpose of the mining operations has stayed close to the same program as originally set by the founders. The mining rigs earn daily amounts of cryptocurrency coins. A large portion of those coins are then sold and used in this way: 50% daily earnings are used to pay off bullion debt that backs tokens, 20% is to immediately purchase more mining rigs to deploy as soon as delivered (exponential growth), 15% is used to support the tokens in the market and 15% is used for speculation growth and operations of the mining sector of the company.
Marston Webb International
Tel: 1.212. 684.6601/917.887.0418
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Arbitrade via Globenewswire
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