VANCOUVER, BC, CANADA (November 10th, 2017) – 360 Blockchain Inc. ("360" or the "Company") (CSE: CODE - FWB: C5B) announces that its previously announced funding prospect has entered contracts to mine Ethereum and Zcash, two of the fastest-growing cryptocurrencies.
“Of the many upsides to cryptocurrency’s explosion in popularity are the opportunities to mine coins other than Bitcoin,” said George Tsafalas, 360’s President. “The business challenge is identifying the most lucrative contracts. SV CryptoLab has developed a solution.”
Silicon Valley-based SV CryptoLab utilizes a proprietary evaluation algorithm to enter into the most economically attractive cloud-mining contracts. That company plans to enter into more mining contracts on a weekly basis. 360’s due diligence on its proposed investment in SV CryptoLab is continuing.
SV CryptoLab provides an adaptable tech environment. During working hours, it’s a cutting-edge facility that’s part hacker and part social space that is open to the public where all are invited to attend weekly meetups and hackathons free of charge. On nights and weekends, the facility’s significant hardware is dedicated to mining cryptocurrency, a computationally intensive process that sits at the heart of Bitcoin and other cryptocurrencies.
The Company also advises that due to a clerical oversight, an additional 300,000 units ($18,000) were missed being issued to an arms-length subscriber on the Company’s last private placement. Those shares and warrants have now been issued and the Company’s filings at the CSE have been updated.
About Codebase Ventures Inc.
Codebase Ventures Inc. is a small, hands-on team of financial and technology experts who invest early in great ideas. We operate from the understanding that technology is always evolving, bringing early opportunities for strategic investments that can deliver the exponential returns to our shareholders. We seek out and empower the innovators who are building tomorrow’s standards with platforms and protocols, not just products. We invest early, support our founders, take their ideas to market and work tirelessly to help them realize their vision.
For further information, please contact:
Brian Keane, Director
Telephone: 1 (778) 806-5150 - TOLL FREE (877) 806-CODE (2633)
Forward Looking Statements
Certain information set forth in this website may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.