Blockmate acquires one bitcoin, now holds two

Executive Summary

• Blockmate Ventures Inc. has acquired one additional Bitcoin, bringing its total treasury holdings to two Bitcoin.
• The acquisition was funded using existing cash reserves and the asset is stored in secure wallet infrastructure integrated with audited reporting.
• The company highlighted its subsidiary, Blockmate Mining, which has secured a site in North America with electricity costs of 3.3 U.S. cents per kWh, capable of supporting up to 200 megawatts of mining infrastructure.

Key Details

• Treasury Acquisition: Blockmate acquired 1 Bitcoin, increasing total holdings to 2 Bitcoin.
• Funding Source: The purchase was financed from Blockmate's existing cash reserves.
• Storage: Assets are stored with secure wallet infrastructure integrated with audited reporting.
• Mining Infrastructure Update: Blockmate Mining secured a site with electricity costs of 3.3 U.S. cents per kilowatt-hour.
• Mining Capacity: The facility is expected to support up to 200 megawatts of mining infrastructure once fully developed.
• Projected Output: A fully utilized 200-megawatt site could generate approximately 200 Bitcoin per month based on current prices and network difficulty.
• Cost Advantage: The site could support mining at an estimated 40% discount to the prevailing spot price.
• Strategic Intent: The Bitcoin remains on the balance sheet as a strategic treasury asset; there are no immediate plans to use it for specific projects or divest at current market prices.
• Future Plans: Further potential Bitcoin and digital asset acquisitions will be reviewed periodically.

Notable Quotes

• "As an incubator of venture projects specializing in the blockchain space, Blockmate is in a position to gain capital growth exposure to bitcoin, while also building what could potentially be a significant capital facility. Coupled with the Blockmate team's strong track record in building blockchain businesses, Blockmate will be in a stronger position to identify, incubate, commercialize and scale up more innovative blockchain and Web3 projects." — Justin Rosenberg, CEO