TORONTO, Dec. 15, 2021 /CNW/ – CryptoStar Corp. (TSXV: CSTR) (OTCQB: CSTXF) (“CryptoStar” or the “Company“), a cryptocurrency mining and data centre operator, is pleased to announce that it has closed the previously announced acquisition of Neuro Digital Inc. (“Neuro Digital“), pursuant to a share purchase agreement with the shareholders of Neuro Digital dated December 15, 2021, for cash consideration of CAD$2.4 million, subject to customary purchase price adjustments (the “Transaction“).
Neuro Digital is a data centre operator specializing in GPU mining, Decentralized Finance (DeFi) and AI solutions with an operational data centre located in Quebec, Canada. Neuro Digital’s current, proof of concept location has a power capacity of 0.5 megawatt with plans for expeditious expansion in various locations that have been identified throughout the province of Quebec. Neuro Digital currently has an aggregate self-mining Hashrate of 83,162 MH/s from GPU miners running in Quebec, Canada.
Philippe Bergeron will remain as Chief Executive Officer of Neuro Digital, and Frederick Angers will remain as Chief Technology Officer of Neuro Digital, and will be responsible for the expansion of CryptoStar’s operations in Quebec, Canada.
David Jellins, President and Chief Executive Officer of CryptoStar states, “We are delighted to welcome Neuro Digital to the CryptoStar family, and more specifically, we are excited to incorporate the extremely talented team at Neuro Digital with a proven expertise in Ethereum (ETH) mining, AI solutions and DeFi. This acquisition ensures our expansion of green operations in Quebec, Canada and is another step toward transitioning our operations to renewable sources.”
CryptoStar has cryptocurrency mining operations with data centres located in the U.S.A. and Canada. CryptoStar is currently dedicated to becoming one of the lowest cost cryptocurrency producers in North America and a major supplier of GPU and ASIC miners worldwide.
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.
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 the expansion of Neuro Digital and CryptoStar’s operations, the expansion of CryptoStar’s green operations and transitioning CryptoStar’s operations to renewable sources. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances. Actual results, performance or achievement could differ materially from that expressed in, or implied by, any forward-looking statements in this press release, and, accordingly, you should not place undue reliance on any such forward-looking statements and they are not guarantees of future results. Forward-looking statements involve significant risks, assumptions, uncertainties and other factors that may cause actual future results or anticipated events to differ materially from those expressed or implied in any forward-looking statements. Except as required by law, CryptoStar undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE CryptoStar Corp.
For further information: CryptoStar Corp., Attention: David Jellins, President and Chief Executive Officer, Investors: [email protected], Sales: [email protected], W: www.cryptostar.com