Overall Value of the Global Cryptocurrency Market Continues to Grow

NEW YORK, January 5, 2018 /PRNewswire/ --

According to data from Coinmarketcap, the overall value of the global cryptocurrency market hit another all-time high of $760 billion on Thursday. The cryptocurrency market has rebounded more than 80 percent after it hit its low of $418 billion on December 22. The market is growing rapidly as the prices of non-bitcoin cryptocurrencies surged. The price of Ripple's XRP surged more than 25 percent to a record high of $3.68 on Thursday. Ripple's XRP now is the second largest cryptocurrency by market capitalization, with a market value of over $142 billion. Ethereum, the third largest cryptocurrency by market cap, also rose to an all-time high of $1,045. HashChain Technology Inc. (OTC: HSSHF), HIVE Blockchain Technologies Ltd. (OTC: PRELF), BTL Group Ltd (OTC: BTLLF), Glance Technologies Inc. (OTC: GLNNF), Global Blockchain Technologies Corp. (OTC: BLKCF)

According to Coindesk, Bitcoin price holds at about $14,500. Bitcoin's dominance in the cryptocurreny market dropped to 32.5 percent as the price of other digital currencies increased. According to Business insider, Mati Greenspan, an analyst at eToro, wrote in his daily crypto roundup on Wednesday, "There's a distinct buying sentiment among cryptotraders today. The pre-Christmas sell off seems to be well behind us now. Though Bitcoin is still a bit off her all-time highs some of the alts are generating some serious momentum."

HashChain Technology Inc. (OTC: HSSHF) also listed on the TSX Venture Exchange under the ticker 'KASH'. Just yesterday the company announced breaking news that, "it has signed a commitment for space for Mining operations of up to 20 megawatts in a facility in Montana, USA ("Montana Facility").  The Company has also signed a purchase order (the "Purchase Order") with its supplier ("Supplier") of cryptocurrency mining rigs ("Rigs") to facilitate orders on behalf of the Company with a manufacturer (the "Manufacturer") to acquire 5,000 Rigs.  Upon delivery and installation of these Rigs and the 770 Rigs previously disclosed, the Company's total number of Rigs will increase to 5,870 and its total Mining capacity will increase to approximately 8.7 megawatts.  The 5,000 Rigs are expected to be received in multiple deliveries between February 28 and May 15, 2018, subject to HashChain closing the previously announced $26 million bought deal financing.  The consideration payable by the Company in respect of the 5,000 Rigs and the sourcing of the 20 megawatt commitment at the Montana Facility is to be comprised of staged payments expected to total USD$20,452,500 plus applicable taxes (the "Expected Total Consideration"), subject to increase in certain circumstances (as described in greater detail below) of which USD$15,952,500 will be payable in cash and USD$4,500,000 will be payable in common shares of HashChain (the "Shares"), and a payment of 210,000 common shares of HashChain as a milestone payment for each megawatt (or portion thereof, pro-rata) that becomes operational ("Milestone Shares").  The Expected Total Consideration is based on the current price at which the Supplier is able to source Rigs from the Manufacturer. In the event that the Manufacturer increases the price at which it will make Rigs available to the Supplier or the Company, the Expected Total Consideration will be increased accordingly. The issuance of the Shares and Milestone Shares are subject to TSX Venture Exchange approval.  The Shares are required to be issued in stages as the Company takes delivery of the Rigs.  The Shares will be issued at a deemed issue price of CDN$3.00, converted to USD$2.34375, provided that in the event the Company's share price is lower than CDN$3.00 at the time Rigs are delivered, the number of the applicable common shares will be adjusted based on the lower share price on date of delivery and using the same exchange rate.  There can be no assurance that the 5,000 Rigs will be successfully acquired by the Company. 

As previously disclosed, In November 2017 the Company ordered 770 Rigs for a total purchase price of USD $2,461,940 (the "November 2017 Purchase"), pursuant to the supply agreement between the Company and the Supplier (the "November 2017 Supply Agreement"). The Company expects to receive the Rigs in January 2018. The Company will spend approximately 1 week installing and configuring the Rigs with expectation that Rigs will be mining by the end of this month increasing HashChain's total Rigs in operations to 870 with 1.24 megawatts operational. The Company has paid USD$1,688,439 of the purchase price to date. As set out in the Company's prospectus dated December 12, 2017 (the "Prospectus"), the balance of the purchase price of USD$773,500 was to be satisfied by the issuance of common shares of the Company at a deemed issue price of CDN$0.15 per share (the "Contingent Payment Shares"), being the price at which the Company had most recently issued common equity at the time of the November 2017 Purchase, at an exchange rate of $1.28CDN / $1.00USD, if the 770 Rigs are delivered on or before January 31, 2018. Based on the original terms of the November 2017 Purchase, 6,600,533 Contingent Payment Shares were to be issuable to the Supplier (not 603,906, the number included in the Prospectus as a result of a typographical error), however the Company and the Supplier have amended the terms of the November 2017 Supply Agreement to reduce the number of Contingent Payment Shares to 5.5 million, with 50% vesting immediately upon delivery of the Rigs, and another 50% vesting once the Rigs have been operational for 30 days.

A "Rig" is a high-performance computer system used for cryptocurrency Mining; each Rig is used to solve complex computation puzzles to confirm transactions on the Blockchain. "Mining" is the process in which individuals, often in collaboration and through the use of Rigs, solve complex, computation puzzles to confirm transactions to be added on a blockchain. Miners who successfully complete the mining process earn a reward in the form of cryptocurrency or other Blockchain coin or token."

Pat Gray, CEO and director of HashChain, commented, "Our recently announced $26 million bought financing will, upon closing, provide enough capital to fulfill the terms of these agreements and continue to execute on our business plan. According to the 2017 Global Cryptocurrency Benchmarking Study, North America meets all criteria for optimal cryptocurrency mining, including low cost of electricity, low temperature and high-speed internet. We continue to execute our plan of utilizing North America's ideal setting".

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. On December 13, 2017, 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. ("Genesis"), 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. This major expansion will increase HIVE's energy consumption dedicated to digital currency mining from a targeted 17.4 megawatts ("MW") in March 2018 to 24.2 MW in April 2018, escalating to an expected 44.2 MW by September 2018

BTL Group Ltd (OTC: BTLLF) is an enterprise technology platform provider that is developing Interbit, a proprietary third generation blockchain platform. On October 17, 2017, the company announced that it has filed patents on its enterprise blockchain platform Interbit™. Interbit is a third generation blockchain platform with unique 'connecting' capability developed by BTL after it became apparent that second generation blockchains would not scale to meet enterprise demands as the technology matures. Interbit allows practical creation of blockchain-based solutions through JavaScript applications. Designed specifically to address modern enterprise requirements and to position the Company with an industry leading blockchain solution, Interbit is currently in beta after being in development over the past two years.

Glance Technologies Inc. (OTCQB: GLNNF) owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to dine, order goods and services, make payments, access digital receipts, redeem digital deals, earn great rewards & interact with merchants. Glance owns Glance Blockchain Token Inc., which is developing the Glance Token as a cryptocurrency with a series of smart contracts for customer engagement through rewards. On Decmeber 28, 2017, the company announced that it has incorporated Glance Blockchain Token Inc. as a wholly owned subsidiary with founding directors Penny Green and Desmond Griffin and key advisors DinisGuarda& Alexander Perkins. Glance Blockchain Token Inc. will be responsible for developing and managing the Glance token, which will be a cryptocurrency with a series of smart contracts to allow merchants to grant the Glance token as a reward for consumer loyalty and engagement.

Global Blockchain Technologies Corp. (OTC: BLKCF) is an investment company which proposes to provide 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 December 27, 2017, the company announced that the Company's subsidiary, Global Blockchain Mining Corp., further to and pursuant to its declared strategy of investing in the blockchain mining space as one of the key prongs of its multi-faceted approach to the sector, has agreed to purchase 6,666 Antminer S9s from Bitmain Technologies Limited, a privately-owned multinational semiconductor company headquartered in Beijing, China, for a total purchase price of US$20,000,000. The estimated delivery of these units is March 2018.

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