Author: Taryn Stemp
CryptoBlox to Utilize Advanced AI Energy Efficiency Optimization Algorithms to Support Redwater’s Bitcoin Mining Operations
Vancouver, B.C, July 27, 2023 – CryptoBlox Technologies Inc. (the “Company” or “CryptoBlox”) (CSE: BLOX), is pleased to announce that, further to its news release dated July 25, 2023, through the partnership between the Company’s wholly owned subsidiary, Red Water Acquisition Corp. (“Redwater”), and Lavrium LLC (“Lavrium”), Lavrium will be applying their AI energy efficiency optimization algorithms to Redwater’s mining operations.
As the cryptocurrency mining industry faces increasing pressure to maximize energy efficiency, Lavrium’s cutting-edge AI algorithms offer an effective solution. By analyzing data such as transaction volumes, power usage effectiveness (PUE), and hash rates, Lavrium’s algorithms can predict optimal mining periods based on historical and real-time data. The Company hopes that this novel approach will allow Redwater to maximize their return on energy investment while significantly reducing operational costs.
One of the key advantages of Lavrium’s algorithms is their adaptability through machine learning. As the algorithms continuously learn and refine their predictions, they improve energy efficiency over time, resulting in more economical and environmentally friendly mining operations. The Company hopes this will not only enhances Redwater’s profitability but also contribute to a sustainable energy future.
“Lavrium’s revolutionary AI energy efficiency optimization algorithms could prove to be a game-changer for the cryptocurrency mining industry. We are excited to partner with Lavrium to transform our mining operations and increase our efficiency,” commented CryptoBlox Interim CEO, Taryn Stemp.
The integration of Lavrium’s advanced AI technology into Redwater’s mining operations is expected to drive significant improvements in energy efficiency and overall profitability. The implementation of these algorithms will be facilitated by True North Data Systems, a renowned data center solutions provider working in collaboration with Redwater.
On behalf of the Company,
Taryn Stemp,
Interim Chief Executive Officer
About CryptoBlox Technologies Inc.
CryptoBlox Technologies Inc. is a blockchain technology company with diversified portfolio of fintech blockchain services, blockchain battery technologies and applications, and crypto mining facilities under development. The Company’s acquisition of Redwater marks a significant milestone in its plan to meet the fast-growing demand for cost-effective cryptocurrency infrastructure in North America. By integrating its mining facilities into power generation facilities in Alberta, and using state-of-the-art operations techniques, the Company will be positioned to achieve a high degree of financial optionality and long-term operational certainty that can deliver some of the cleanest and lowest-cost mining operations in the world. The Company recently acquired a 100% interest in Redwater Acquisition Corp. which is a company specializing in air-cooled data centers and advanced heat recapture products. Committed to environmental sustainability, Redwater Acquisition Corp aims to revolutionize the crypto mining sector through innovative technologies that enhance efficiency and reduce the industry’s carbon footprint.
For further information about the Company, please visit https://www.cryptoblox.ca or call 236-259- 0279.
Forward-Looking Statements
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans, and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to risks and uncertainties. Forward- looking statements in this news release include, but are not limited to, statements respecting: the future plans and operations of the Company and Redwater; Redwater’s partnership with Lavrium and the benefits thereof, including to the cost-effectiveness of Redwater’s mining operations; the effectiveness of Lavrium’s AI algorithms and their impact on Redwater’s efficiency and profitability and the sustainability of its operations. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements, or otherwise.
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
Redwater and Lavrium Announce Strategic Partnership for Bitcoin Mining Optimization
Vancouver, B.C, July 25, 2023 – CryptoBlox Technologies Inc. (the “Company” or “CryptoBlox”) (CSE: BLOX), is pleased to announce that its wholly-owned subsidiary, Redwater Acquisition Corp. (“Redwater”), has partnered with Lavrium LLC (“Lavrium”) to integrate Lavrium’s machines and implement AI algorithms at Redwater’s Alberta Project (managed by True North Data Systems Ltd.), with the overarching goal of scaling and optimizing the site’s Bitcoin mining operations to drive increased profitability.
Lavrium has gained recognition in the industry for its deployment of cutting-edge technologies and its strategic approach to ASIC mining operations. Lavrium currently hosts 350 miners in a Nebraska facility. Lavrium’s founders, who have deep expertise in machine learning (ML) and artificial intelligence (AI), met during their doctoral studies at MIT and recognized the potential of AI/ML to drive energy efficiency and enhance Bitcoin mining profitability. For example, AI algorithms can analyze a wide range of data, including past transaction volumes, power usage effectiveness (PUE), and hash rates, to optimize mining operations. Lavrium’s AI driven approach is intended to maximize profitability and energy efficiency in Bitcoin mining.
CryptoBlox Interim CEO, Taryn Stemp, comments, “Investors must diligently consider both Lavrium’s data-driven approach and the vital role of miner fees when assessing transaction costs and evaluating blockchain projects or cryptocurrencies. Lavrium’s commitment to leveraging AI and optimizing energy efficiency contributes to their cost-effective and environmentally friendly mining practices.”
CryptoBlox director, Akshay Sood, also expressed his excitement about the partnership with Redwater. “As a leading blockchain technology company, Lavrium utilizes cutting-edge technologies and industry expertise to drive innovation and maximize returns for investors”. With his background in advising and incubating early-stage blockchain startups, Mr. Sood believes that combining his expertise with Lavrium’s proficiency in optimizing Bitcoin mining operations will create a powerful synergy. Lavrium’s extensive experience in various blockchain-based businesses positions them to contribute to Redwater’s success in this rapidly evolving market.
The partnership between Lavrium and Redwater will capitalize on the success of True North Data Systems Ltd. and Redwater’s recent collaboration. By leveraging Redwater’s Alberta Project, the strategic partnership between Lavrium and Redwater aims to scale and optimize Redwater’s Bitcoin mining operations, ultimately driving profitability for both companies.
Lavrium has established a track record of consistent profitability, showcasing the strength of their infrastructure and strategic partnerships. With a robust foundation in place, Lavrium anticipates sustained success in the future.
On behalf of the Company,
Taryn Stemp,
Interim Chief Executive Officer
About CryptoBlox Technologies Inc.
CryptoBlox Technologies Inc. is a blockchain technology company with diversified portfolio of fintech blockchain services, blockchain battery technologies and applications, and crypto mining facilities under development. The Company’s acquisition of Redwater marks a significant milestone in its plan to meet the fast-growing demand for cost-effective cryptocurrency infrastructure in North America. By integrating its mining facilities into power generation facilities in Alberta, and using state-of-the-art operations techniques, the Company will be positioned to achieve a high degree of financial optionality and long-term operational certainty that can deliver some of the cleanest and lowest-cost mining operations in the world. The Company recently acquired a 100% interest in Redwater Acquisition Corp. which is a company specializing in air-cooled data centers and advanced heat recapture products. Committed to environmental sustainability, Redwater Acquisition Corp aims to revolutionize the crypto mining sector through innovative technologies that enhance efficiency and reduce the industry’s carbon footprint.
For further information about the Company, please visit https://www.cryptoblox.ca or call 236-259- 0279.
Forward-Looking Statements
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans, and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to risks and uncertainties. Forward- looking statements in this news release include, but are not limited to, statements respecting: the future plans and operations of the Company and Redwater; Redwater’s partnership with Lavrium and the benefits thereof, including to the cost-effectiveness of Redwater’s mining operations; synergies between Mr. Sood’s and Lavrium’s expertise; future profitability of Lavrium and Redwater; and Lavrium’s strategic goals and outlook. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements, or otherwise.
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
Redwater Secures $0.015 kWh Gas Supply Agreement, Reducing Energy Costs by Approximately 90.91%
Vancouver, B.C, July 20, 2023 – CryptoBlox Technologies Inc. (the “Company” or “CryptoBlox”) (CSE: BLOX), is pleased to announce that its wholly-owned subsidiary, Redwater Acquisition Corp. (“Redwater”), has secured an advantageous gas supply agreement (the “GSA”) with the Redwater site owner. The GSA is expected to result in a significant reduction in energy costs, lowering energy expenses by approximately 90.91%, as compared with average market rates reported by EPCOR’s Regulated Rate Option (the “RRO“).
Under the GSA, True North Data Systems Ltd (“TNDS”) and Redwater have secured gas at a favorable rate of $0.015 per kilowatt-hour (kWh) compared to the average market rate of $0.165 kWh, as reported by the RRO. This achievement not only demonstrates the Company’s commitment to delivering cost-effective solutions but also highlights our ability to forge strategic partnerships that drive value and enhance long-term success.
“The securing of this Gas Supply Agreement at such an attractive rate is a major milestone for TNDS and Redwater,” commented CryptoBlox Interim CEO, Taryn Stemp. “By reducing our energy costs by approximately 90.91% compared to the average market rate, we have achieved a significant cost advantage. This cost advantage will allow us to provide highly competitive and cost-effective solutions to our clients while maintaining the highest standards of performance, reliability, and environmental sustainability.”
The negotiated rate of $0.015 kWh, compared to the average market rate of $0.165 kWh based on the RRO), reflects the Company’s dedication to delivering affordable and sustainable data center and crypto mining solutions. By optimizing their operations and passing on the savings to their customers, TNDS and Redwater Acquisition Corp can ensure that clients receive state-of-the-art services at a competitive price.
Ms. Stemp further commented, “our achievement in negotiating a favorable energy supply rate inspires us to invest further in cutting-edge technologies and infrastructure. We hope this will ensure our data centers and crypto mining facilities remain at the forefront of efficiency and performance.”
Redwater remains focused on delivering industry-leading data center and crypto mining solutions that prioritize cost-effectiveness and environmental sustainability. The favorable GSA not only strengthens their positions in the market but also reinforces their commitment to driving innovation and delivering unparalleled value to their clients.
On behalf of the Company,
Taryn Stemp,
Interim Chief Executive Officer
About CryptoBlox Technologies Inc.
CryptoBlox Technologies Inc. is a blockchain technology company with diversified portfolio of fintech blockchain services, blockchain battery technologies and applications, and crypto mining facilities under development. The Company’s acquisition of Redwater marks a significant milestone in its plan to meet the fast-growing demand for cost-effective cryptocurrency infrastructure in North America. By integrating its mining facilities into power generation facilities in Alberta, and using state-of-the-art operations techniques, the Company will be positioned to achieve a high degree of financial optionality and long-term operational certainty that can deliver some of the cleanest and lowest-cost mining operations in the world. The Company recently acquired a 100% interest in Redwater Acquisition Corp. which is a company specializing in air-cooled data centers and advanced heat recapture products. Committed to environmental sustainability, Redwater Acquisition Corp aims to revolutionize the crypto mining sector through innovative technologies that enhance efficiency and reduce the industry’s carbon footprint.
For further information about the Company, please visit https://www.cryptoblox.ca or call 236-259- 0279.
Forward-Looking Statements
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans, and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to risks and uncertainties. Forward- looking statements in this news release include, but are not limited to, statements respecting: the future plans and operations of the Company and Redwater; the benefits of the GSA; the implications of the GSA on the Company’s strategic direction and future investment in innovation; the Company delivering cost-effective solutions and forging strategic partnerships that drive value and enhance long-term success; and the Company’s commitment to environmental sustainability. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements, or otherwise.
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
Redwater Secures Prime Site in Sturgeon County, Alberta
Vancouver, B.C, July 18, 2023 – CryptoBlox Technologies Inc. (the “Company” or “CryptoBlox”) (CSE: BLOX), is pleased to announce that its wholly-owned subsidiary, Red Water Acquisition Corp. (“Redwater”) has successfully acquired development rights for a prime site in Sturgeon County, Alberta, Canada. The rights were obtained through the assistance of Tru North Data Systems Ltd (“TNDS”), a leading provider of data centre solutions, specializing in optimizing high-performance computing systems for enterprise clients based in Calgary, Alberta.
TNDS, acting on behalf of the site owner, an oil and gas producer, played a pivotal role in facilitating the commissioning of the site. The collaboration between Redwater and TNDS will enable the utilization of natural gas associated with oil production, which is currently being flared, as a sustainable and cost-effective fuel source for Redwater’s state-of-the-art crypto mining facility.
“We are thrilled to secure this prime location in Sturgeon County, which will serve as the foundation for our advanced crypto mining operations,” commented CryptoBlox Interim Chief Executive Officer, Taryn Stemp. “With TNDS’s expertise and the support of the site owner, we can effectively harness waste gas and transform it into a renewable energy source, aligning our operations with our commitment to environmental sustainability.”
As part of the ongoing collaboration, TNDS is currently negotiating a Gas Supply Agreement (GSA) with the site owner. The GSA will establish a formal agreement for the supply of waste gas to Redwater’s mining facility, ensuring a reliable and continuous source of fuel.
“The Gas Supply Agreement will be a crucial step in our mission to utilize environmentally friendly energy sources for our mining operations,” added Ms. Stemp. “We are confident that our partnership with TNDS and the site owner will lead to a mutually beneficial relationship, enabling us to reduce carbon emissions while maximizing operational efficiency.”
Redwater’s focus on air-cooled data centers and advanced heat recapture products sets it apart in the crypto mining industry. By employing innovative technologies, Redwater aims to achieve optimal efficiency and cost-effectiveness while prioritizing environmental sustainability.
The acquisition of the Sturgeon County site and the collaboration with TNDS mark significant milestones for Redwater’s mission to become a leader in eco-conscious mining practices. The Company remains committed to pushing the boundaries of efficiency, sustainability, and responsible resource utilization within the cryptocurrency industry.
On behalf of the Company,
Taryn Stemp,
Interim Chief Executive Officer
About CryptoBlox Technologies Inc.
CryptoBlox Technologies Inc. is a blockchain technology company with diversified portfolio of fintech blockchain services, blockchain battery technologies and applications, and crypto mining facilities under development. The Company’s acquisition of Redwater marks a significant milestone in its plan to meet the fast-growing demand for cost-effective cryptocurrency infrastructure in North America. By integrating its mining facilities into power generation facilities in Alberta, and using state-of-the-art operations techniques, the Company will be positioned to achieve a high degree of financial optionality and long-term operational certainty that can deliver some of the cleanest and lowest-cost mining operations in the world.
For further information about the Company, please visit https://www.cryptoblox.ca or call 236-259- 0279.
Forward-Looking Statements
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans, and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to risks and uncertainties. Forward- looking statements in this news release include, but are not limited to, statements respecting: the future plans and operations of the Company and Redwater; development of facilities at the Sturgeon Lake site; securing of the gas supply agreement for the Sturgeon Lake site; Redwater’s focus on air-cooled data centers and advanced heat recapture products and the benefits of same; the benefits of Redwater’s partnership with TNDS; the Company’s ability to harness waste gas and transform it into a renewable energy source; and the Company’s commitment to environmental sustainability. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements, or otherwise.
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.