Toronto, Ontario--(Newsfile Corp. - October 1, 2021) - Bluesky Digital Assets Corp. (CSE: BTC) (CSE: BTC.PR.A) (OTCQB: BTCWF) ("Bluesky" or the "Corporation") announced today that the Corporation had mined an implied and combined unaudited total of $1,044,277 CDN worth of cryptocurrencies in Q3 via the mining of 9.25 Bitcoin ("BTC") and via the mining of 160.75 of Ethereum ("ETH"). For further clarification, implied valuations are based on the booking price of the virtual associated cryptocurrency value at the time the mining reward is realized by the Corporation from its mining activities.
The implied valuation of BTC amounted to $483,859 CDN and the implied valuation of ETH amounted to $560,418 CDN in Q3. The Corporation averaged a daily mining rate of approximately 1.75 ETH and 0.10 BTC per day in Q3. The percentage split on mining was 46% BTC and 54% ETH. Costs associated in the mining of the 9.25 BTC and 160.75 ETH for Q3 amounted to approx. $183,000 CDN.
The Corporation achieved an average of $11,351 CDN in gross mining revenue per day from its active mining operations in Q3 vs. a $9,360 CDN per day average that was achieved in Q2, which represented a 21% increase over Q2's corresponding results.
As at September 30, 2021, the Corporation held $1,512,150 CDN in its unsold cryptocurrency reserves. The Corporation will file its unaudited Q3 interim financial statements on November 29, 2021.
Ben Gelfand, CEO stated: "Q3 2021 was the first quarter ever in the Corporation's history where the Corporation mined $1M+ CDN of cryptocurrencies. The Corporation is in the process of strategically acquiring additional mining hardware to fully utilize available capacity and continue to increase exponentially future quarterly and ongoing revenue returns."
About Bluesky Digital Assets Corp.
Bluesky Digital Assets Corp. is building a high value digital currency enterprise. Bluesky mines digital currencies, such as Bitcoin and Ether, and is developing value-added technology services for the digital currency market, such as proprietary technology solutions. Offering a complete ecosystem of value-creation, Bluesky is targeting reinvesting appropriate portions of its digital currency mining profits back into its operations. A percentage of the profit will be invested in the development of a proprietary Artificial Intelligence ("AI") based technology. Overall, Bluesky takes an approach that enables the Corporation to scale, and respond to changing conditions, within the still-emerging Blockchain industry. The Corporation is poised to capture value in successive phases as this industry continues to scale.
For more information please visit Bluesky at: https://www.blueskydigitalassets.com.
For further information please contact:
Mr. Ben Gelfand
CEO & Director
Bluesky Digital Assets Corp.
T: (416) 363-3833
E: ben.gelfand@blueskydigitalassets.com
Mr. Frank Kordy
Secretary & Director
Bluesky Digital Assets Corp.
T: (647) 466-4037
E: frank.kordy@blueskydigitalassets.com
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward- looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release. We seek safe harbor.
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