Graph Blockchain Invests In LINK For Proof Of Stake Mining

Graph Blockchain (CSE: GBLC) issued a very brief press release this morning, revealing the final alternative cryptocurrency that it has elected to place funds into. The announcement follows prior news that the firm had allocated a further $2.0 million towards staking of coins, with the majority of funds being placed into Polkadot and Cardano.

Now, the final portion of that $2.0 million figure has been allocated by the company, with Graph revealing this morning that the funds were placed into Chainlink, also known as LINK. Similar to its other altcoin investments, this investment was done for the purpose of staking to enable more efficient crypto mining.

A total of $500,000 was placed into the digital currency. Further details are reportedly to be released as the project progresses.

“We are very excited to be deploying funds into our third token purchase. We feel strongly that Link will appreciate in value given it has a substantial market cap of over USD $13B, a fixed supply, and is possibly the most important piece of infrastructure in the blockchain ecosystem. Graph understands firsthand how valuable bridging onchain and offchain data sources is to smart contracts and Chainlink is the best solution on the market.”

Paul Haber, CEO of Graph Blockchain

Graph Blockchain last traded at $0.155 on the CSE.


FULL DISCLOSURE: Graph Blockchain is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Graph Blockchain on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Tariffs Spark New Race for Critical Metals | Rob McEwen

Antimony Resources: The Bald Hill Project

They Laughed at $3,000 Gold, Now We’re Headed for $4,000! | Sean Roosen – Osisko Development Corp.

Recommended

Steadright Begins Preliminary Economic Assessment On TitanBeach Project

Three Miners Trapped Underground At Newmont’s Red Chris Mine

Related News

Graph Blockchain Identifies Cardano, Polkdadot As First Altcoins For Staking

Graph Blockchain (TSXV: GBLC) has further outlined its altcoin cryptocurrency purchase and staking strategy. The...

Wednesday, March 10, 2021, 09:09:47 AM

Graph Blockchain Launches First Publicly Traded NFT Platform

Graph Blockchain (CSE: GBLC) this morning announced the launch of its NFT marketplace and augmented...

Friday, October 15, 2021, 08:04:07 AM

Graph Blockchain Completes Acquisition Of Babbage Mining

Graph Blockchain (CSE: GBLC) this morning closed the acquisition of Babbage Mining Corp. The firm...

Wednesday, February 17, 2021, 10:33:27 AM

Graph Blockchain To Raise $10 Million From Institutions

Graph Blockchain (CSE: GBLC) last night announced that it will be conducting a private placement...

Wednesday, March 24, 2021, 09:09:44 AM

Graph Blockchain Closes $2.3 Million Financing

Graph Blockchain (CSE: GBLC) this morning announced the closing of its previously announced private placement....

Friday, February 19, 2021, 08:33:24 AM