TAAL Purchases 5,000 Upgraded M30s Blockchain Computers
VANCOUVER, BC, Dec. 22, 2020 /CNW/ - TAAL Distributed Information Technologies Inc. (CSE: TAAL) (FWB: 9SQ1) (OTC: TAALF) ("TAAL" or the "Company") a vertically integrated blockchain infrastructure and service provider, today announced it has entered into an agreement with a Canadian provider to purchase 5,000 upgraded M30s blockchain computers. With this transaction, TAAL increases its self-hashing capacity to help fuel the Company's stated growth strategy.
"The acquisition of these new, blockchain technologies expedites our expansion plans, representing important progress in building capacity to power TAAL BitcoinSV (BSV) solutions for global enterprise clients," commented Stefan Matthews, TAAL Executive Chairman and Chief Executive Officer.
The additional capacity will be deployed in Q1 2021 and will add to the previously announced 175 petahash of North American custom computing power, together supporting the Company's vision placing blockchain transaction processing at the core of its business. TAAL provides value-added service to clients across several industries and the Company expects the market for these services to continue to grow. Gartner predicts that at least 25% of the Forbes Global 2000 will use blockchain for digital trust at scale in 20211, and TAAL believes that BitcoinSV offers them the best, most trusted platform.
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. The Company is led by an experienced management team, Board and Advisory Board members that include entrepreneur and BitcoinSV advocate Calvin Ayre, and renowned computer scientist and visionary Craig Wright.
Visit TAAL online at www.taal.com
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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 expectations of a growing global enterprise market for blockchain services. 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 the future acceptance of Bitcoin SV and other digital assets and risks related to information processing using those platforms, the ability for TAAL to leverage intellectual property into viable income streams and other risks set out in Item 20 Risk Factors of TAAL's Form 2A – Listing Statement dated July 31, 2018 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.
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1 https://www.gartner.com/en/information-technology/insights/blockchain |
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]
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