Vancouver, B.C., Feb. 22, 2022 (GLOBE NEWSWIRE) — Extreme Vehicle Battery Technologies Corp. (the “ Company ” or “ EV Battery Tech ”) (CSE: ACDC ) (OTCQB: CRYBF ) is pleased to announce developments at its wholly owned cryptocurrency mining subsidiary Optimal CP Inc. (“ Optimal ”) for the Company’s inaugural bitcoin mining facility and general corporate updates.
Optimal expects the initial tranche of 100 ASIC miners to be delivered to its facility in mid-March and will be commissioned into the first mining enclosure over the following four to eight weeks.
Following the commissioning of this initial tranche of 100 ASIC miners, it is the Company’s goal to add an average of 500 kW per month of ASIC capacity over the ensuing six months which is expected to result in an additional 3,500 kW of mining capacity with an aggregate hashrate of approximately 100 petahash. In total, the Company projects a mining capacity of approximately 12 bitcoin per month to be in place by the end of the third quarter of 2022.
“ The experienced Optimal team continues to make developments on time and on budget as we build out this new cash-flowing blockchain vertical in our portfolio , ” stated EV Battery Tech CEO, Bryson Goodwin.
Optimal has retained the services of an Alberta-based electrical contractor with experience in the provision and commissioning of mining enclosure systems to commence the procurement and delivery of its initial mining enclosure systems in a timely and cost-effective manner.
Finalization of this process will allow Optimal to commence the construction and tiered commissioning of its inaugural mining facility. The facility is expected to be best suited to Optimal’s ambitions for its initial crypto production and the expansion of that facility as future tiers of state-of-the-art ASIC machines continue to arrive.
In addition to the Company advancing its crypto mining vertical, it continues to make progress in its other blockchain division and marketing efforts. Some notable developments include:
“ Our portfolio of blockchain assets continues to progress on all fronts. As we get closer and closer to anticipated revenue from our mining operations, we continue to develop our long-term verticals which we believe will have a disruptive force in their respective market segments , ” concluded Mr. Goodwin.
On behalf of the Company,
Chief Executive Officer
About Extreme Vehicle Battery Technologies Corp .
Extreme Vehicle Battery Technologies is a blockchain and battery technology company with revolutionary, patented battery management systems (BMS) designed to meet the growing demand for scalable, smart solutions for the rapidly growing electric vehicle (EV) and energy storage solution (ESS) markets. The company has committed to assisting global recycling solutions by offering recycling initiatives using their technology to analyze and fully refurbish used batteries.
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About Optimal CP Inc.
Optimal CP is a company focused on meeting the fast-growing demand for cost-effective cryptocurrency infrastructure in North America. Optimal’s focus on integrating its mining facilities into power generation facilities in Alberta, and using state-of-the-art operations techniques, will allow it 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.
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 and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements in this news release include, but are not limited to, statements relating to: Optimal’s expectation of the delivery of the initial tranche of 100 ASIC miners and their commission into the first mining enclosure; the Company’s expectations from a 500 kW increase per month of the ASIC capacity; the Alberta-based electrical contractor commencing the procurement and delivery of Optimal’s initial mining enclosure systems in a timely and cost-efficient manner; finalization of the process allowing Optimal to commence the construction and tiered commissioning of its inaugural mining facility; the expectation that the facility will be best suited to Optimal’s ambitions; the continued advancement of the Smart Miner; development of the “Smart Command”; the Company’s engagement of IAM Ventures Inc.; and continued work with Daymak Inc., . 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. Further risk factors are discussed in the Company’s Management Discussion and Analysis for year ended January 31, 2021.
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