Neptune Digital Assets Corp (TSXV: NDA) has entered a letter of intent with Link Global Tech (CSE: LNK). The arrangement between the two firms is set to see the co-development of a 5MW renewable energy Bitcoin mining facility in Alberta in an apparent attempt to grab dollars from investors focused on ESG principles.
The arrangement proposes a new mining facility that will be operated as an equal joint venture partnership between the two firms, with costs and revenues to be borne equally by the two parties. The proposed facility is stated to incorporate wind, solar, and natural gas energy to power the mining operation, with a definitive agreement set to be entered into by early April with construction to commence immediately thereafter.
Little other detail was provided by the two firms at this point in time, with the CEO’s providing quotes focused on social-issue positioning related to green initiatives. The operation is currently looking to consist of “carbon-neutral mining” while the venture will also look at available carbon credits while intending to prove “that the future of mining digital currency can be a green one.”
Neptune Digital Assets Corp last traded at $0.62 on the TSX Venture.
Information for this briefing was found via Sedar and Neptune Digital Assets. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
