- CryptoBlox Technologies (BLOX) has agreed to acquire all the outstanding shares of CryptoTherm Manufacturing Inc.
- CryptoBox will issue 400 million common shares for a transaction value of $20,000,000
- CryptoBlox will use CryptoTherm’s immersion cooling and thermal heat exchange technology as it grows its digital currency blockchain division
- Cryptoblox Technologies Inc is a Blockchain and Battery technology company
- Cryptobox Technologies Inc. (BLOX) opened trading at C$0.02
CryptoBlox Technologies (BLOX) has signed a share purchase agreement to acquire CryptoTherm Manufacturing Inc.
CryptoTherm specializes in designing and building liquid-cooled data centers and heat recapture products. These data centers are specifically designed for cryptocurrency mining, allowing for maximum efficiency and cost-effectiveness.
CryptoBlox will use CryptoTherm’s immersion cooling and thermal heat exchange technology as it grows its digital currency blockchain division. The company will also allocate resources to grow CryptoTherm’s business of selling immersion pods, ASIC miners, cryptovaults and cooling immersion fluids.
Austin Bank, CEO of CryptoTherm, commented on the news.
“I am thrilled with this agreement with CryptoBlox. This acquisition will allow us to join forces and leverage our complementary strengths to achieve even greater success. I am confident that together, we will be able to explore new opportunities and unlock the full potential of our combined expertise and resources. I am excited for the future possibilities that this acquisition brings and look forward to working with the talented team at CryptoBlox to drive innovation and growth in the digital currency industry.”
Bryson Goodwin, CEO of CryptoBlox, added,
“This is one of our most exciting investments and our most strategic acquisition to date. The acquisition will allow us to significantly grow our digital currency blockchain division and unlock the incredible value of CryptoTherm. We believe the acquisition will allow us to significantly grow our digital currency blockchain division and unlock the incredible value of CryptoTherm.”
Under the agreement with CryptoTherm and 1289048 B.C. Ltd., CryptoBox will issue 400 million common shares of the company at a deemed price of $0.05 per share for a transaction value of $20,000,000.
Completion of the acquisition is subject to a formal valuation of CryptoTherm, board and CSE approvals.
Cryptoblox Technologies Inc is a Blockchain and Battery technology company with revolutionary, patented Battery Management Systems (BMS) designed to meet the exponentially growing demand for scalable, smart solutions for the rapidly growing Electric Vehicle (EV) and Energy Storage Solution (ESS) markets.
Cryptobox Technologies Inc. (BLOX) opened trading at C$0.02.