- Aquarius AI (AQUA) has signed a letter of intent (LOI) to operate 53 MW of hydro powered Bitcoin mining capacity
- It will have the exclusive right to use or resell the capacity, which is split across multiple Canadian sites, upon the finalization of a definitive agreement
- The capacity employs immersion technology, which lengthens rig life and improves hash rate output
- Aquarius AI is a technology infrastructure company serving cryptocurrencies, blockchains and enterprise-level projects
- Aquarius (AQUA) is unchanged trading at $0.04 per share
Aquarius AI (AQUA) has signed an LOI to operate 53 MW of hydro powered Bitcoin mining capacity.
The company will have the exclusive right to use or resell the capacity – which is split across multiple Canadian sites – upon the signing of a definitive agreement. It intends to offer spare capacity to third parties until it is able to utilize the hosting for its own BTC mining rigs.
The facility primarily uses immersion technology, which extends rig lifespans and may increase their hash rate output by approximately 50 per cent above the manufacturer’s quoted rate.
“The current market presents an unparalleled opportunity to build the future of industrial-scale Bitcoin mining at prices not seen for several years,” stated Owen Sagness, Aquarius’ Director of Operations. “Here at AQUA we are carefully and cost effectively selecting opportunities that position us for strong growth over the coming years.”
Aquarius AI is a technology infrastructure company serving cryptocurrencies, blockchains and enterprise-level projects.
Aquarius (AQUA) is unchanged trading at $0.04 per share as of 12:17 pm EST.