For immediate release. Skychain Technologies Inc. (TSXV-SCT) is pleased to announce its sales in the first quarter of $515,624 are on pace with the previous two quarters from hosting fees, EBITDA was positive in the quarter at $11,346 and cash on hand end of the June 30th period is $219,501.
Sales of equipment have now begun through its wholly owned subsidiary, MiningSky Technology Ltd., in the current quarter to be reported at the end September with a deposit and agreement for sale of a 1250KVA Transformer and accessories. The client. in Milwaukee WI., provides service to cryptocurrency miners and has the right to acquire seven more Transformers within 12 months at the same terms as the initial purchase.
Miningsky had developed a complete data mining construction solution designed for data mining construction based on delivery within the North American electricity system. With the Miningsky electricity solution, a site with 1MW (1000KW) electricity supply will be able to finish the electricity setup with a $250,000 budget. This data mining site setup may be about half of the traditional electricity setup cost, and a site setup can be finished within 60 days.
CEO Bill Zhang commented "We are very pleased to provide our customer secure pricing as they expand their output and also have the potential for significant sales for 12 months from one client ".
ON BEHALF OF THE BOARD OF DIRECTORS
"Bill Zhang"
President and CEO
About Skychain Technologies Inc. – Skychain is a Vancouver based company that provides Blockchain Infrastructure services and power solutions to its clients working within this disruptive Industry space. For further information about Skychain Technologies Inc please visit the Company’s website at https://skychaintechnologiesinc.com/ or by contacting the Company directly at 604-306-7159 or by email at bill@miningsky.com.
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