Aquarius AI has been researching opportunities related to Bitcoin Mining for over six months and is very pleased to have secured the rights contained in the Purchase Agreement. The Company believes that certain market forces have come together to make the Bitcoin Mining opportunity a timely next step.
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I’m Cassandra Bolinski for Investmentpitch Media
Aquarius AI Inc. has entered into a Purchase Agreement to acquire Bitcoin mining equipment.
Under the Purchase Agreement, the company has the right to purchase 500 next generation Bitmain Antminer S19 Pro Mining Rigs for $5 million, subject to securing financing and completing the acquisition by November 23, 2021.
Under the Purchase Agreement, the company may also acquire sufficient Carbon Neutral power at a price of US$0.05 per kW/h, to be supplied in a purpose built, fully-managed Bitcoin Mining approved data center.
The Antminer S19 Pro, one of the most profitable Bitcoin mining rigs available, has a hash rate of 110 Terahash per second for a power consumption of 3250W.
According to management, “The Company has been researching opportunities related to Bitcoin Mining for over six months and is very pleased to have secured the rights contained in the Purchase Agreement. The Company believes that certain market forces have come together to make the Bitcoin Mining opportunity a timely next step.”
The value of Bitcoin has been steadily rising lately.
If we take a snapshot of today’s price of US$48,656 and enter the equipment’s hashrate and power consumption, along with power price that Aquarius plans to secure, into the calculator on Crypto Compare at www.CryptoCompare.com, the company is looking at a potential profit of US$12,680 per year per machine, giving the company very strong margins.
Macroeconomic changes in China have meant that Bitcoin mining is in high demand in North America and miners are being rewarded with higher Bitcoin payments than has been typical.
The company developed extensive experience in managing enterprise scale technology and in performing high volume algorithmic transactions when it was focused on customer acquisition of consumer products and services through the development of a programmatic marketing platform.
Its marketing platform, powered by the company’s proprietary machine learning technology, connects digital advertisers to consumers across online display, mobile and video advertising channels, solving the key challenges that digital advertisers face.
The company expects that this experience would transfer well to Bitcoin Mining.
The company announced a couple of additions to its management team.
Owen Sagness, Director of Operations, is a seasoned Senior Executive who led Microsoft MSN for 9 years, where he was responsible for driving sales by more than 300%.
Later, Owen produced similar results at App Nexus which was sold to AT&T for US$2 Billion, quickly followed by a further sale of a B2B subscription business for US$180 million.
Owen is recognized as one of the top on-line marketing & sales experts in the world today.
Ryan Trasolini, a Canadian entrepreneur and an early mover in the Cryptocurrency Mining and Technology sectors, has joined the team as Head of Bitcoin Mining.
Ryan began Bitcoin mining in 2013 and has consulted for multiple cryptocurrency mining companies on best practices and hardware build-outs. More recently, Ryan co-founded and built Flagship Endeavors, a Los Angeles based incubator focusing on innovative technology-based companies.
The shares, which listed on the CSE on July 15th, are trading at $0.12.
For more information, please visit www.AquariusAI.ca, contact Melissa Adams at 604-265-7511 or email investors@AquariusAI.ca
I’m Cassandra Bolinski for Investmentpitch Media
