on CRYPTO BLOCKCHAIN INDUSTRIES (EPA:ALCBI)
CRYPTO BLOCKCHAIN INDUSTRIES raises $1 million USD for new mining servers
CRYPTO BLOCKCHAIN INDUSTRIES (CBI) has secured a $1 million USD revolving credit facility. This financing will be used to acquire new Bitcoin mining servers. The Bitcoin-backed loan structure provides CBI with flexibility without diluting its existing shares.
The next-generation servers are expected to generate attractive returns, reaching 30% when Bitcoin is valued at $115,000 and 15% at $85,000. This funding allows CBI to avoid selling its Bitcoin at what it considers a current low price.
The agreement with a major financial institution allows for an increase in the line of credit, linked to additional bitcoin deposits as collateral. CBI is thus demonstrating its objective of increasing its mining capacity without jeopardizing its capital or the prospects for the rise of bitcoin.
R. P.
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