Dec. 07, 2017 — Block One Capital Inc. (TSX-V:BLOK) (Frankfurt:ES3) (the “Company” or “Block One”), is pleased to announce that its investee company: TG12 Ventures Inc. (“TG12”) has entered into a purchase agreement to acquire an additional one-thousand (1,000) S9 Antminers. TG12 now has two-thousand (2,000) units on order with the first 1,000 units scheduled to be operable in February 2018.
The S9 Antminers are manufactured by Bitmain, one the world’s most recognized Bitcoin/ cryptocurrency companies. The first batch of S9 Antminers is scheduled to be shipped and delivered in January 2018 and be operable in February 2018. The S9s are planned to operate at a co-location facility located in Montreal, Quebec, Canada, where the all-in cost of operating the miners, inclusive of electricity, rent, cooling, general rig maintenance and management, is estimated to be about US$0.10 per kilowatt hour.
Based on TG12’s financial forecasting, current conservative Bitcoin price estimate of US$8,000 and the 2000 miners being fully operable, the estimated revenue per year is US$15,600,000. With any appreciation of the price of Bitcoin above this estimate, the return on investment of the miners should become even greater. Based on the current Bitcoin price of approximately US$13,900 on December 6, 2017, the estimated revenue per year would be US$25,970,000.
Additionally, the Company’s updated corporate slide deck is now available for download at: www.blockonecap.com.
ON BEHALF OF THE BOARD
Chief Executive Officer and Director