VANCOUVER, British Columbia, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Calyx Bio-Ventures Inc. (TSXV:CYX) (“Calyx” or the “Company”) is pleased to announce that its wholly-owned subsidiary Canada Blockchain Hosting Corp (“CBH”) has more than doubled the blockchain data validation computing capacity at its Kamloops facility. Sufficient GPU resources have been acquired to add an additional 113 cryptocurrency mining rigs, bringing the operation’s current total unit count to 200.
Presently, the equipment is being managed by a proprietary algorithm-based mining strategy that selects the type of cryptocurrency being mined based on the expected efficiency and resulting cryptocurrency yield, of the units at that time.
These new units have been acquired in support of the Company’s ongoing expansion of its distributed computing platforms. The scaling of the Company’s blockchain mining efforts support and complement the Company’s full stack enterprise software development efforts.
Calyx’s expansion has been bolstered by a reliable allotment of top-of-the-line GPU resources from a top manufacturer. It is the Company’s intention to continue to scale its mining assets at an aggressive rate, using them to execute on this highly-efficient and profitable crypto strategy.
“This additional computing and hash power will allow CBH to immediately increase its revenues. We’re bringing in more money each time we bring a rig online, but it’s about more than that,” explained Calyx CEO Roger Forde. “We are aiming to be the first movers in blockchain-based enterprise development, and these assets will allow us a significant advantage.”
“These assets serve as an important component in our enterprise division. Our team is in the process of using the access to mining hardware, along with our unique marketplace and communications platforms to offer modern, scalable blockchain based solutions to large and medium businesses of today and tomorrow,” said Forde. “This transaction continues to drive forward the Company’s strategy to expand its distributed computing platform into the Company’s overall business model. This additional computing and hash power will allow CBH to immediately increase its revenues and also further enhance the Company’s ability to mine many additional crypto-currencies profitability.”
About Calyx
Calyx operates a software development business which produces custom software for enterprises and innovative, well-financed startups. Cannigistics Agri-Solutions Corp, a software development business that has created a software platform originally designed for advanced indoor agriculture, but has now evolved to serve a wider range of industries and Canada Blockchain Holdings Corp., a company operating in blockchain technologies and crypto currencies. Calyx also owns a portfolio of proprietary intellectual property with applications in crop enhancement, as well as messaging software assets.
For further information about Calyx, please visit www.calyxbio.com or contact:
Roger Forde
President and Chief Executive Officer
Calyx Bio-Ventures Inc.
Tel: 604.880.8822
Email: rogerf@calyxbio.com
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