Datametrex Subsidiary Ronin Blockchain Increases Total Capacity to 300 Megawatts
TORONTO, May 24, 2018 (GLOBE NEWSWIRE) -- Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV:DM) (FSE:D4G) is pleased to announce that its wholly owned subsidiary, Ronin Blockchain Corp. (“Ronin”), has successfully amended the agreement with Gosun Group (“Gosun”) to extend the term of its contract to a minimum of 5 years and increased the maximum available megawatt capacity from 150 MW in the original agreement to 300 MW.
Total MW allocated to Ronin per year for Cryptocurrency Mining is as follows:
2018 – 100 MW
2019 – 150 MW
2020 – 300 MW
2021 – 300 MW
2022 – 300 MW
2023 – 300 MW
In today’s crypto environment, 1,000 ASIC mining rigs would utilize approximately 1.4MW of power and would generate approximately $3 million in annual mining revenue.
“Ronin is pleased with the results of its pilot mining program and is now positioned to scale the mining operations in both Asia and Canada. After the results of the pilot mining program management has determined to mine with both GPUs and ASICs to take advantage of the entire Cryptocurrency ecosystem. As previously announced, management is working on a go public strategy that will position Ronin as a standalone entity to take advantage of this unique opportunity for growth. Ronin could realize unparalleled revenue if funded to take advantage of the full 300 MW of capacity,” says Michael Frank, CEO of Ronin.
About Ronin Blockchain Corp.
Ronin Blockchain Corp., is a wholly owned subsidiary of Datametrex AI Limited. Ronin’s business model is based on a centralized AI powered mining platform to operate a geo-diversified footprint of industrial scale Blockchain mining operations. Ronin has the potential to deploy state of the art mining capability across high value mining locations in North America, Asia and Europe from a centralized command center to maximize efficiency and profitability for GPU and ASIC-based mining. Additionally, Ronin will also investigate further use of its expertise in software development and Artificial Intelligence algorithms to develop future revenue streams within the Blockchain space.
About the Company
Datametrex AI Limited is a technology focused company with exposure to four exciting verticals. Big Data, collecting data from retail point of sale environments, Artificial Intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy. Implementing Blockchain technology for secure Data Transfers through its joint venture company, Graph Blockchain (www.graphblockchain.com). and Industrial Scale Cryptocurrency Mining through its wholly owned subsidiary, Ronin Blockchain Corp. (www.roninblockchain.com).
Additional information on Datametrex is available at: www.datametrex.com
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For further information, please contact:
Michael Frank- CEO, Ronin BlockchainJeff Stevens- President & COO of Datametrex
Phone: (416) 482-3282 ext.225 Phone: (416) 482-3282 ext.223
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws, including statements regarding the timing and completion of any blockchain related activities as the subsidiary is newly incorporated and has no current operations. Forward-looking information is not a guarantee of future performance or results, since it involves risks and uncertainties. There is no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in forward-looking statements. Some of the factors on which the forward-looking statements are premised include (but are not limited to) the lack of material changes to general economic, market and business conditions. Except as required by law, the Corporation does not assume and expressly renounces any obligation to update any forward-looking information, which is only applicable on the date on which it is given.