4500 current miners bought at 100% revenue to buy new miners
VANCOUVER, BC, Oct. 7, 2021 /CNW/ — Hiya Pal Worldwide Inc. (“Hiya Pal” or the “Firm”) (CSE: HP) (Frankfurt: 27H) (OTC: HLLPF), a supplier of quickly rising worldwide live-streaming, language studying and social-crypto platform, is happy to announce that it has upgraded roughly one third of its Litecoin/Dogecoin mining rigs to the newest miners launched by Bitmain.
The Firm, by way of its subsidiary CPal Know-how Restricted (previously “Crypto Pal Know-how Restricted”), bought 4,500 of its current Antminer L3+ mining rigs for a consideration of USDT 2.1 million (roughly CAD 2.67 million). In contrast with the efficient buy worth of these mining rigs when 12,500 mining rigs have been bought for CAD 3.5 million earlier in June this yr, this represents a revenue of over 100% for this sale.
Utilizing these proceeds, the Firm has bought 100 items of Antminer L7 mining rigs, that are the newest Litecoin/Dogecoin mining rigs to be launched by Bitmain. L7 mining rigs have a hashrate of 9500 MH/s, which is nineteen instances greater than that of the present L3+.
The Firm expects to obtain these new mining rigs in November this yr, and has preparations to buy extra, as these mining rigs deliver quite a few benefits. Aside from the elevated mining energy, it would additionally require much less upkeep, and will likely be simpler to accommodate in mining services as a result of diminished area it would require in comparison with the electrical energy charges obtained by the mining services. These benefits in flip imply that the Firm can have much more flexibility when it comes to the place its mining rigs may be housed. As talked about in Hiya Pal’s press launch on October fifth, the corporate continues to develop its enterprise on a global degree to diversify threat for its shareholders.
“We’re very grateful to our companion Yitang in serving to us promote part of our current mining rigs at double our value, and in with the ability to pay money for the brand new miners that are in very quick provide,” stated KL Wong, Founder and Chairman of the Firm. “We stay dedicated to our crypto mining technique and the implementation of cryptocurrency inside our social platform, so this improve will assist us obtain this aim.”
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In regards to the Hiya Pal Platform
The Hiya Pal Platform is a proprietary suite of cell functions constructed on a user-friendly messaging interface that target social interplay, language studying and journey. Hiya Pal, has been designed from the bottom as much as be simple to make use of and allows customers’ the liberty to talk in their very own language whatever the different individual’s language they’re chatting with. Hiya Pal’s overriding mission is to deliver the world nearer collectively by social interplay, language studying and journey. By making a platform the place it’s simple to immediately work together with others all over the world and giving them the instruments to speak with one another in a joyful and enjoyable approach, we hope to do our half (nonetheless small) in fostering understanding and tolerance between all residents of the world.
Data set forth on this information launch incorporates forward-looking statements. These statements replicate administration’s present estimates, beliefs, intentions, and expectations; they don’t seem to be ensures of future efficiency. Hiya Pal cautions that each one forward-looking statements are inherently unsure and that precise efficiency could also be affected by quite a lot of materials components, lots of that are past Hiya Pal’s management. Such dangers and uncertainties are described in Hiya Pal’s annual and interim monetary statements accessible on www.sedar.com. Though Hiya Pal is at present producing revenues, Hiya Pal stays within the development stage and such revenues are but to be worthwhile. Accordingly, precise, and future occasions, situations and outcomes might differ materially from the estimates, beliefs, intentions, and expectations expressed or implied within the forward-looking info. Besides as required underneath relevant securities laws, Hiya Pal undertakes no obligation to publicly replace or revise forward-looking info.
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Hiya Pal Worldwide
200 – 500 Denman Avenue
Vancouver, BC, V6G 3H1, Canada
SOURCE Hiya Pal Worldwide Inc.