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Source: Skychain Technologies Inc.
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  • Skychain Technologies (SCT) has signed a deal to buy a piece of real estate in Manitoba.
  • The Vancouver company will use the land to develop a crypto mining site
  • Skychain expects the facility to have approximately 22MW of capacity.
  • The transaction is still subject to the company completing due diligence
  • Skychain Technologies is up 16.44 per cent, trading at $0.85 at 11:30 am ET

Skychain Technologies (SCT) has signed a deal to buy a piece of real estate in Manitoba.

The Vancouver company will use the land to develop a crypto mining site.

Once built, Skychain expects the facility to have approximately 22MW of capacity.

The transaction is still subject to the company completing due diligence. The Blockchain Infrastructure services and power solutions company is currently working through the due diligence process.

The deal also requires approval of the TSX Venture Exchange.

The company's goal is to become a leading player in the crypto-data mining hosting by growing to 100MW of crypto hosting capacity.

Earlier this week, the company announced  it successfully completed the first tranche of its non-brokered private placement, raising gross proceeds of $154,787.88 to be used for working capitol.

Skychain Technologies is up 16.44 per cent, trading at $0.85 at 11:30 am ET.

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