Neptune announces that an additional 53,000 terahash of bitcoin mining machines are now operational

Vancouver, British Columbia–(Newsfile Corp. – September 21, 2022) – Neptune Digital Assets Corp. (TSXV: NDA) (OTC Pink: NPPTF) (FSE: 1NW) (“Neptune“or the”Company“), a leader in blockchain technology and cryptocurrency in Canada, is pleased to announce that it has brought an additional 53 petahash per second (PH/s) of mining capacity online and that these machines are now producing bitcoins.

New Bitcoin ASIC Mining Machines

These Antminer S19 Pro Bitcoin mining machines have been tested, installed and are now producing Bitcoin. The Antminer S19 Pro is the latest generation Bitcoin ASIC miner produced by leading hardware manufacturer Bitmain. The SHA-256 mining algorithm of the Antminer S19 Pro offers a hashrate ranging from 96 to 104 terahash per second (TH/s) with a power efficiency of 29.5 joules per terahash (J/TH) and power consumption of 3250W. Deploying the Bitcoin mining machine collectively produces a total of 52,496 terahash per second. The new Bitcoin mining machines are deployed using the Luxor mining pool and are hosted in a state-of-the-art facility in the United States owned and operated by Aspen Creek Digital Corporation (ACDC). Launched in 2022, ACDC’s mission is to catalyze the decarbonization of power generation by building the world’s first fleet of high-performance computing facilities powered by renewable energy.

“We are pleased to finally be able to bring in the additional 53 petahash of mining capacity purchased at the end of 2021. Mining activity has been difficult over the past 12 months, but it still remains profitable and we will continue to carefully develop these operations while focusing on cost savings and profit margins. We look forward to a successful partnership with Aspen where we can grow our mining operations focused on renewable energy. We are fortunate to have the financial means to take advantage of the current bear market and ‘acquire assets at a discount using cash at the height of the bull cycle,’ said Cale Moodie, CEO of Neptune.

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Issuance of stock options

The Company announces the granting of stock options to purchase up to 2,000,000 common shares in the capital of the Company to certain directors and officers of the Company in accordance with the terms of the option plan purchase of Company shares. The stock options may be exercised at a price of $0.23 per common share and for a period of 10 years from the date of issue.

About Neptune Digital Assets Corp.
Neptune Digital Assets (TSXV: NDA) is one of the first publicly traded blockchain companies in Canada and is a leader in cryptocurrency and blockchain infrastructure with operations across the blockchain ecosystem. digital assets including Bitcoin mining, proof of stake mining, blockchain nodes, decentralized finance (DeFi) and other related blockchain technologies.

ON BEHALF OF COUNCIL

Cale Moodie, President and CEO
Neptune Digital Assets Corp.
1-800-545-0941
www.neptunedigitalassets.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements

This press release contains certain “forward-looking statements” and certain “forward-looking information” as defined by applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”. , “believes”, “continues”, “plans”, “proposes” or similar terminology. Forward-looking statements and information include, but are not limited to, the company’s operations and its sustainable future profitability; potential further improvements profitability and efficiency of overall operations by optimizing cryptocurrency mining production, continuing to reduce the direct cost structure of mining operations, and maximizing existing electrical and infrastructure capacity, including with new mining equipment; continued adoption of cryptocurrency; efficiency of Antminer S19 Pro Bitcoin mining machines; estimated hashrate ranging from 96 to 104 terahash per second (TH/s) with top efficiency rgetics of 29.5 joules per terahash (J/TH), a power consumption of 3250 W and the deployment collectively producing a total of 52,496 terahash per second; any statement relating to the granting of stock options to certain directors and officers of Neptune. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions which, although considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s ability to control or predict, which may cause the Company’s actual results, performance or achievements to be materially different. of those expressed or implied by them, and are developed based on assumptions about such risks, uncertainties and other factors set forth herein, including, but not limited to: the inherent risks involved in the cryptocurrency and securities markets generally; the Company’s ability to successfully mine digital currency; the Company’s revenues may not increase as currently expected, if at all; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices could have a material adverse impact on the Company’s operations; digital currency price volatility; uncertainties relating to the availability and costs of necessary financing in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company undertakes no obligation to update any forward-looking information except as required by applicable law. This forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are cautioned not to place undue reliance on any forward-looking statements or information.

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