Bitcoin Price Breaks Records as Futures Commences to Trade

NEW YORK, December 18, 2017 /PRNewswire/ --

Bitcoin price hit a new all-time high on Friday. According to industry website Coindesk, the world's largest cryptocurrency by market capitalization, rose 6.47 percent to $17,600.12 during Friday's trading session. On December 9th, Chicago-based exchange Cboe Global Markets began to offer bitcoin futures trading. Cboe's bitcoin futures, which expire on January 2018, rose 7.7 percent to $18,105 on Friday. Bitcoin was up more than 1,600 percent this year and now has a market capitalization of over 297 billion. CME Group Inc., the world's biggest exchange owner, will also launch futures contract on Monday, December 18, 2017. HashChain Technology Inc. (TSX-V: KASH), MGT Capital Investments, Inc. (OTC: MGTI), HIVE Blockchain Technologies Ltd. (OTC: PRELF), BTCS Inc. (OTC: BTCS), Global Blockchain Technologies Corp. (OTC: BLKCF).

According to Coinmarketcap, the total market capitalization of all cryptocurrencies reached 536 billion on Friday. According to Reuters, Charles Hayter, Founder of industry website Cryptocompare, said, "The hope (is) that futures signal the unlocking of institutional money into the digital arena and (that there will be) a rapid demand increase and ratification of the technology and its principles."

HashChain Technology Inc. (TSX-V: KASH) currently listed on the TSX Venture Exchange under the ticker 'KASH'. On December 15th, the company announced that it has received final approval for listing on the TSX Venture Exchange ("TSXV"). The common shares of HashChain will commence trading on the TSXV effective Monday, December 18, 2017 under the symbol 'KASH'.

HashChain has raised approximately $4.4 million dollars to date with 41,179,000 common shares issued and outstanding. The Company is initially focusing resources on mining Dash and Bitcoin cryptocurrencies utilizing Application Specific Integrated Circuit ("ASIC") mining rigs, which are high-performance computer systems used for cryptocurrency mining. The Company is currently operating 100 Dash mining rigs which commenced mining on November 3, 2017 and has purchased 770 Bitcoin rigs which are expected to be received and installed to commence mining in January 2018. Both models of rigs are the most powerful on the market at mining their respective currencies. With all 870 rigs in full operation, HashChain's initial energy consumption dedicated to digital currency mining is approximately 1.2 megawatts.

"We are giving investors access to a lucrative cryptocurrency market that they can't take advantage of themselves," explained Patrick Gray, CEO and Founder HashChain. "Our ideal location for mining will maximize revenue on each coin, and our proprietary approach to operations can sustain rapid growth and scalability. Canada is one of the most optimal locations to mine with low cost of electricity, low temperatures and good internet connectivity. Our strategy is to continue deploying rigs in locations with these three key characteristics. Some key differentiators we have at HashChain include our management team who are extremely knowledgeable in the crypto-currency space and have had years of experience not only buying and selling crypto-currencies but also building out professional data centres for crypto-currency mining as well as developing solutions on the Blockchain. With my computer science background and the managerial expertise I gained from Xerox, HashChain is positioned to be a global leader in mining. Our rigs come from some of the largest rig manufacturers in the world, but we also pride ourselves on having relationships with some of the smaller rig manufacturers that are coming out with more efficient mining rigs that consume less electricity and are able to mine crypto-currencies faster than some of their competitors."

MGT Capital Investments, Inc. (OTCQB: MGTI) announced recently that it has executed a new purchase order with Bitmain Technologies for an additional 500 S9 Antminer mining rigs, with shipment expected early in the first quarter of 2018. Following shipment and setup, and in conjunction with the Company's current rigs in operation or in its possession, MGT's Bitcoin mining operations will be comprised of over 5,000 Bitmain S9's. These machines are expected to generate roughly 70 Ph/s of total hash power, and over $4.0 million in monthly revenue, assuming current Bitcoin pricing and Difficulty rates. Factoring in management fees, profit sharing, electricity, hosting and other direct operating costs, EBITDA from the Company's Bitcoin mining operations is projected at over $2.0 millionper month. The Company expects all rigs announced to date to be operating during the first quarter of 2018. 

HIVE Blockchain Technologies Ltd. (OTC: PRELF) is a growth oriented, TSX.V-listed company building a bridge from the blockchain sector to traditional capital markets. HIVE is strategically partnered with Genesis Mining Ltd. to build the next generation of blockchain infrastructure. HIVE owns state-of-the-art GPU-based digital currency mining facilities in Iceland, which produce mined digital currency like Ethereum around the clock, and is in the midst of a major expansion of operations into Sweden. Recently, the company announced that it has entered into binding letter agreements dated December 13, 2017 with its strategic partner and major shareholder, Genesis Mining Ltd., the largest digital currency mining hashpower provider, to significantly expand the Company's digital currency mining operations in Sweden in 2018, including the addition of a large-scale Bitcoin mining facility.

BTCS Inc. (OTCQB: BTCS) is an early mover in the blockchain and digital currency ecosystems. On October 25, 2017, the company announced it has closed on the remaining balance of its previously announced financing, which was co-led by Blockchain Global Ltd. The planned merger is subject to negotiation and execution of a definitive merger agreement, BGL shareholder and board approvals and other customary closing conditions. "We've now secured the necessary funds to settle all of our debt, excluding derivative liabilities, a key step in moving forward with our planned merger with BGL," stated Charles Allen, CEO of BTCS. "With the filing of Form 10-Q and other key BTCS merger conditions now met from the C-1 financing, we're well-positioned to execute on what we believe will be a transformational milestone for our companies."

Global Blockchain Technologies Corp. (OTC: BLKCF) is an investment company providing investors access to a basket of holdings within the blockchain space, managed by a team of industry pioneers and early adopters of all major cryptocurrencies. On November 7, 2017, the company announced that its wholly owned subsidiary Global Blockchain Mining Corp. has entered into an agreement to acquire a 49.9% interest in Coinstream Mining Corp., the world's first cryptocurrency mining company to employ the streaming model, providing strategic upfront capital and an additional payment upon delivery of the cryptocurrency, to select, proven, best-in-class operators and operations, in exchange for a stream of future cryptocurrency production, at a fixed price. Coinstream has aggregated 10 megawatts of power in purpose-built data centers located in low power cost jurisdiction (under USD$.04/kWh) Manitoba, Canada.

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