- CryptoStar Corp. (CSTR) has provided an update on its latest operations
- Its current hashrates currently contributes US$332,569 per month in self-mining revenue
- 160 more ASIC miners have yet to be deployed which will further increase its hashrate
- Miners will be deployed after CryptoStar’s Quebec expansion is completed and is on track
- CryptoStar also signed a new agreement for one of its data centre facilities in Utah
- CryptoStar Corp. (CSTR) is down 11.11 per cent trading at $0.04 per share as of 12:38 p.m. ET
CryptoStar Corp. (CSTR), a North American cryptocurrency mining and data centre operator, has provided an update on its latest operations.
As of today, the company has a total self-mining hashrate of 94.4 peta hash per second from application-specific integrated circuit (ASIC) miners and 125,550 mega hash per second from graphics processing unit (GPU) miners running at its data centres.
CryptoStar stated these rates currently contributes US$332,569 per month in self-mining revenue. 160 more ASIC miners have yet to be deployed and the company expects them to increase its hashrate by a further 14.1 peta hash per second.
CryptoStar plans to deploy these extra miners once its operations in Quebec have been expanded. The company shared it has made progress on its expansion of operations and on its application with Hydro Quebec to secure an additional five megawatts of power at its data centre.
Further west, the company’s Albertan partner’s natural gas power generation site remains shut down. Litigation against the partner is ongoing concerning the non-compliance with terms of the power supply agreement for up to 30 megawatt and damages arising from that place.
Additionally, the company signed a new equipment hosting agreement for one of its data centre facilities in Utah, which increased its aggregate monthly hosting revenues to US$177,000 for an aggregate mining capacity of approximately 12 megawatts (annual hosting revenues of US$2.1 million).
For its next steps, CryptoStar shared it will continue to expand its self-mining inventory of mining hardware further. It will also expand its data centre operations in North America by partnering with large cryptocurrency miners seeking operating locations.
CryptoStar Corp. (CSTR) is down 11.11 per cent trading at $0.04 per share as of 12:38 p.m. ET.
