On April 26th, the Company announced to acquire 51% equity interest in Diginex’s cryptocurrency mining division for a consideration of USD 60mn. GPU mining describes the use of a graphics processing unit (GPU) to solve a computationally ‘hard’ problem to ensure the validity of the blockchain and add new blocks

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• GPU accelerated computing offloads compute-intensive portions of a software application to the GPU to run applications faster

• Strategic cooperation with global technical service provider for GPU performance enhancement

• Ability to deliver higher MHS per watt than anyone on the market using their experience and unique access to the chip manufacturer source code (BIOS)

• Diginex holds relationship with Etix (data center provider), enables the company to develop state of the art data centers by leveraging their years of experience in project development and other high tier HPC data centers

• Jokkmokk, Sweden was selected after a global search due to the low cost of electricity ($0.045/kWh), cooler temperatures  (lower cooling costs), strong legal framework (asset ownership, JV/local partner governing law), tax efficient framework and blockchain-friendly regulation. The site also has capacity for up to an initial 8MW with significant expansion upside thereafter (up to 79MW)