TAAL Increases Transaction Processing Capacity With Purchase of 3,000 Bitmain S19j Pro Blockchain Computers
- Additional 3,000 new, state of the art blockchain computers anticipated for deployment in Q1 2022, costing approximately US$19 million
- In addition to the 1000 Bitmain S19j Pro blockchain computers due for deployment in December 2021
- TAAL's hash rate for the end of June is anticipated to be at least 450 PH/s, ahead of stated goals
VANCOUVER, BC, May 21, 2021 /CNW/ - TAAL Distributed Information Technologies Inc. (CSE: TAAL) (FWB: 9SQ1) (OTC: TAALF) ("TAAL" or the "Company"), a vertically integrated blockchain infrastructure and service provider for enterprise, today announces it has purchased 3,000 new Bitmain S19j Pro blockchain computers, further expanding the Company's capacity to enable enterprise transaction processing. The computers are expected to be deployed in Q1 2022.
With this purchase, the Company confirms it will easily exceed operational guidance reported on April 30, 2021, anticipating winning at least 30 BitcoinSV ("BSV") blocks per day attributed to TAAL, once deployed.
BitcoinSV blockchain transaction volume continues to accelerate with BSV processing 30% more transactions than BTC per daily average (as of May 19, 2021), according to CoinDance. BSV leads all other blockchains in energy efficiency, consuming less than 1% of the power required by BTC, according to Coin Carbon Cap data.
"BitcoinSV is processing more transactions than BTC on any given day, and with an environmental footprint that is under 1% of that consumed on the BTC chain. And, of all the transactions processed on the BitcoinSV network in April of this year, over 60% were processed by TAAL.(source:whatsonchain.com). With an additional 3,000 pro-computers we continue building the capacity to be able to meet demand at scale," comments Stefan Matthews, TAAL Executive Chairman, and Chief Executive Officer.
About TAAL Distributed Information Technologies Inc.
TAAL Distributed Information Technologies Inc. delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications upon the BitcoinSV platform, and developing, operating, and managing distributed computing systems for enterprise users.
Visit TAAL online at www.taal.com
The CSE, nor its Regulation Services Provider, accepts no responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain statements included in this news release constitute "forward-looking information" as defined under applicable Canadian securities legislation. The words "will", "intends", "expects" and similar expressions are intended to identify forward-looking information, although not all forward-looking information will contain these identifying words. Specific forward-looking information contained in this news release includes but is not limited to statements regarding: the number of machines that will be deployed, the total cost of the machines, the dates of such deployment, and the number of BSV blocks that will be won through TAAL's operations in the future. These statements are based on factors and assumptions related to historical trends, current conditions and expected future developments. Since forward-looking information relates to future events and conditions, by its very nature it requires making assumptions and involves inherent risks and uncertainties. TAAL cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from expectations. Material risk factors include delays in equipment deliver, expected operation, network conditions in the future and other risks set out in TAAL's Annual Information Form for the financial year ended December 31, 2020 dated April 30, 2021 under the heading Risk Factors and elsewhere in TAAL's continuous disclosure filings available on SEDAR at www.sedar.com. Given these risks, undue reliance should not be placed on the forward-looking information contained herein. Other than as required by law, TAAL undertakes no obligation to update any forward-looking information to reflect new information, subsequent or otherwise.
SOURCE Taal Distributed Information Technologies Inc.
Matt Whitcomb, Investor Relations, [email protected], 604-260-6142; Stefan Matthews, CEO & Executive Chairman, [email protected]; Chris Naprawa, President, [email protected]
Share this article