NR-181101
TSXV Listed Symbol "SCT"
FOR IMMEDIATE RELEASE: November 1, 2018 Vancouver British Columbia Canada; Skychain Technologies Inc. (the “Company”) is pleased to announce that its wholly owned subsidiary Miningsky Technology Ltd. has entered into a Strategic Cooperation Agreement (“Framework Agreement”) with Hong Kong Hot Chain Technology Limited (“Hot Chain”) to host a large number of data mining machines from China in the Company’s mining facilities in North America.
The Framework Agreement has a term of three and a half years, starting from the date when the Company can supply appropriate hosting sites to Hot Chain with a series of hosting agreements negotiated and executed on specific hosting sites, and Hot Chain will initially provide 50,000 machines (taking up to 120 Mega Watts of power) in the first six months, and an additional 120,000 machines (taking up to 300 Mega Watts of power) during the following 12 month period. Once the aforementioned have been completed, Hot Chain will provide further 120,000 machines per year for the last two-year period.
The Company is looking forward to working closely with Hot Chain to complete the first hosting agreement.
Hot Chain is a Hong Kong and China based blockchain service provider specializing in providing total solutions to large-scale Chinese miners, and its affiliated entities currently have over 200,000 machines running in various mining farms in China.
ON BEHALF OF THE BOARD OF DIRECTORS
“Bill Zhang”
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 the disruptive Industry space. For further information about Skychain Technologies Inc please visit the Company’s website at skychaintechnology.com or at Sedar.com or by contacting the Company directly at 604-456-0608 or by email at info@skychaintechnology.com.
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This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the Shares in the United States. The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
