Global Blockchain and CoinStream Join Forces Under Mining “Streaming” Model
- Global Blockchain will obtain a 49.9% stake in CoinStream in exchange for 3.8 million common shares of Global Blockchain.
Vancouver-based Global Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term Technologies Corporation’s subsidiary company, Global Blockchain Mining Corp., has recently entered into a partnership with CoinStream Mining Corp. Through the agreement, Global Blockchain will obtain a 49.9% stake in CoinStream’s shares in exchange for 3.8 million common shares of Global Blockchain. Global Blockchain will provide up-front funding to CoinStream as well as an additional payment upon delivery of the cryptocurrency produced.
Global Blockchain Chairman Stephen Nayaroff said that while his company did not have any initial plans to invest capital in mining, CoinStream presented opportunities that Global Blockchain “couldn’t ignore”. Said Nayaroff:
“This new company creates a unique platform through which these opportunities can be pursued in a manner that allows counterparties to maintain control of their operations, formulate their own strategies, and fortify their own positions as members of this important emerging area. It facilitates a lower-cost, less dilutive source of strategic growth capital for them.”
CoinStream Will Provide Global Blockchain With Fixed-Price BTC
CoinStream Mining Corporation, in the style of its name, will deliver a 'stream' of cryptocurrency obtained by mining at a fixed price to “operators and operations” selected by Global Blockchain.
CoinStream is the first Crypto Mining Crypto Mining Cryptocurrency mining is defined as the process through which the transactions of a digital currency are authenticated then published to blockchain. For every crypto transaction conducted, a crypto miner is in charge of authenticating the information which, if approved, is then updated in the blockchain. Currently, the most popular cryptocurrencies being mined are Bitcoin, Litecoin, Ethereum Classic, Monero, and DASH. How is Cryptocurrency Mined?The process of crypto mining itself involves the s Cryptocurrency mining is defined as the process through which the transactions of a digital currency are authenticated then published to blockchain. For every crypto transaction conducted, a crypto miner is in charge of authenticating the information which, if approved, is then updated in the blockchain. Currently, the most popular cryptocurrencies being mined are Bitcoin, Litecoin, Ethereum Classic, Monero, and DASH. How is Cryptocurrency Mined?The process of crypto mining itself involves the s Read this Term company in the world to utilize the streaming model. Under the terms of the agreement, Global Blockchain is expected to receive 12,500 BTC (currently valued at roughly US$92.5 million) at a rate of 2,500 BTC per year.
A fixed price of US$1000 will be paid for each bitcoin when it is delivered, unless the trading value of BTC exceeds US$15,000; in this case, the cost would rise to US$1500. The price could also be adjusted upward if the hashing power required for mining rises above the levels that were agreed upon when the partnership began.
CoinStream, which has aggregated 10 megawatts of power spread across several mining centers in Canada, will contribute US$10 million in CAPEX cost to its operating partners. It will retain 100% ownership of its mining equipment until this initial contribution is repaid; afterwards, it will legally own 50% of its equipment. CoinStream will also have the right to choose additional coins to mine.
Through the Agreement, BTC Investors Don’t Have to Worry About Rising Mining Costs
President of Global Blockchain Capital, Shidan Gouran, has noted that the streaming model provides a “readily calculable value” for contracts made with the company. With its fixed BTC price, the streaming model allows for investors to plan in advance; the price per BTC can be adjusted on a contract-to-contract basis through Global Blockchain. Mr. Gouran said that “as a new asset class, investors can become concerned about changing operating costs and changes in technology and what that may mean for them.”
Vancouver-based Global Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term Technologies Corporation’s subsidiary company, Global Blockchain Mining Corp., has recently entered into a partnership with CoinStream Mining Corp. Through the agreement, Global Blockchain will obtain a 49.9% stake in CoinStream’s shares in exchange for 3.8 million common shares of Global Blockchain. Global Blockchain will provide up-front funding to CoinStream as well as an additional payment upon delivery of the cryptocurrency produced.
Global Blockchain Chairman Stephen Nayaroff said that while his company did not have any initial plans to invest capital in mining, CoinStream presented opportunities that Global Blockchain “couldn’t ignore”. Said Nayaroff:
“This new company creates a unique platform through which these opportunities can be pursued in a manner that allows counterparties to maintain control of their operations, formulate their own strategies, and fortify their own positions as members of this important emerging area. It facilitates a lower-cost, less dilutive source of strategic growth capital for them.”
CoinStream Will Provide Global Blockchain With Fixed-Price BTC
CoinStream Mining Corporation, in the style of its name, will deliver a 'stream' of cryptocurrency obtained by mining at a fixed price to “operators and operations” selected by Global Blockchain.
CoinStream is the first Crypto Mining Crypto Mining Cryptocurrency mining is defined as the process through which the transactions of a digital currency are authenticated then published to blockchain. For every crypto transaction conducted, a crypto miner is in charge of authenticating the information which, if approved, is then updated in the blockchain. Currently, the most popular cryptocurrencies being mined are Bitcoin, Litecoin, Ethereum Classic, Monero, and DASH. How is Cryptocurrency Mined?The process of crypto mining itself involves the s Cryptocurrency mining is defined as the process through which the transactions of a digital currency are authenticated then published to blockchain. For every crypto transaction conducted, a crypto miner is in charge of authenticating the information which, if approved, is then updated in the blockchain. Currently, the most popular cryptocurrencies being mined are Bitcoin, Litecoin, Ethereum Classic, Monero, and DASH. How is Cryptocurrency Mined?The process of crypto mining itself involves the s Read this Term company in the world to utilize the streaming model. Under the terms of the agreement, Global Blockchain is expected to receive 12,500 BTC (currently valued at roughly US$92.5 million) at a rate of 2,500 BTC per year.
A fixed price of US$1000 will be paid for each bitcoin when it is delivered, unless the trading value of BTC exceeds US$15,000; in this case, the cost would rise to US$1500. The price could also be adjusted upward if the hashing power required for mining rises above the levels that were agreed upon when the partnership began.
CoinStream, which has aggregated 10 megawatts of power spread across several mining centers in Canada, will contribute US$10 million in CAPEX cost to its operating partners. It will retain 100% ownership of its mining equipment until this initial contribution is repaid; afterwards, it will legally own 50% of its equipment. CoinStream will also have the right to choose additional coins to mine.
Through the Agreement, BTC Investors Don’t Have to Worry About Rising Mining Costs
President of Global Blockchain Capital, Shidan Gouran, has noted that the streaming model provides a “readily calculable value” for contracts made with the company. With its fixed BTC price, the streaming model allows for investors to plan in advance; the price per BTC can be adjusted on a contract-to-contract basis through Global Blockchain. Mr. Gouran said that “as a new asset class, investors can become concerned about changing operating costs and changes in technology and what that may mean for them.”