Toronto, Ontario--(Newsfile Corp. - August 12, 2021) - Bluesky Digital Assets Corp., (CSE: BTC), (CSE: BTC.PR.A), (OTCQB: BTCWF), ("Bluesky" or the "Corporation") announced today that the Corporation had mined an implied and combined unaudited total of $316,500 CDN worth of cryptocurrencies for the month of July which was achieved via the mining of 3.35 Bitcoin ("BTC") and 65.23 of Ethereum (ETH). The implied valuations of the BTC amounted to $142,545 CDN and the ETH amounted to $173,955 CDN for the month. The Corporation averaged a daily mining rate of approximately 2.10 ETH and 0.11 BTC per day. The percentage split on mining was 45% BTC and 55% ETH. For further clarification, implied valuations are based on the booking price of the virtual associated crypto currency value at the time the mining reward is realized by the Corporation from its mining activities. Costs associated in the mining of the 3.35 BTC and 65.23 ETH for the month of July amounted to approx. $65,000 CDN.
The Corporation averaged $10,200 CDN per day in mining revenue in July of 2021 vs. $2,200 CDN mined per day in July of 2020 which represents an increase of 363%. The Corporation averaged $7,815 CDN per day in mining in Q1 of 2021 and $9,465 CDN per day in Q2 of 2021. The July daily average represents an increase of 30.5% over Q1 2021's daily average and a 7.7% increase over Q2 2021's daily average.
As at July 31, 2021, the Corporation held 5.73 BTC and 138.50 ETH in cryptocurrency reserves.
Bluesky expects to deploy additional mining assets throughout 2021 and beyond, further updates will be forthcoming.
Ben Gelfand, CEO stated: "We have always strategically maintained a diversified mining focus through a balanced mining approach on mixed virtual crypto currencies such as Bitcoin and Ethereum. Additionally, we have taken a staged approach to deploying assets and capital, this approach allows us to adapt and pivot to changes in the market and better protect against market volatility while maximizing returns. We are very pleased to see our strategy pay off and look forward to the continued expansion of our operations."
About Bluesky Digital Assets Corp.
Bluesky Digital Assets Corp, is building a high value digital currency enterprise. Bluesky mines digital currencies, such as Bitcoin and Ether, and is developing value-added technology services for the digital currency market, such as proprietary technology solutions. Offering a complete ecosystem of value-creation, Bluesky is targeting reinvesting appropriate portions of its digital currency mining profits back into its operations. A percentage of the profit will be invested in the development of a proprietary Artificial Intelligence ("AI") based technology. Overall, Bluesky takes an approach that enables the Corporation to scale, and respond to changing conditions, within the still-emerging Blockchain industry. The Corporation is poised to capture value in successive phases as this industry continues to scale.
For more information please visit Bluesky at: https://www.blueskydigitalassets.com
For further information please contact:
Mr. Ben Gelfand
CEO & Director
Bluesky Digital Assets Corp.
T: (416) 363-3833
Mr. Frank Kordy
Secretary & Director
Bluesky Digital Assets Corp.
T: (647) 466-4037
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward- looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release. We seek safe harbor.
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