Redwater Secures $0.015 kWh Gas Supply Agreement, Reducing Energy Costs by Approximately 90.91%

Vancouver, B.C, July 20, 2023 (GLOBE NEWSWIRE) — CryptoBlox Applied sciences Inc. (the “Firm” or “CryptoBlox”) (CSE: BLOX), is happy to announce that its wholly-owned subsidiary, Redwater Acquisition Corp. (“Redwater”), has secured an advantageous gasoline provide settlement (the “GSA”) with the Redwater web site proprietor. The GSA is predicted to end in a big discount in power prices, decreasing power bills by roughly 90.91%, as in contrast with common market charges reported by EPCOR’s Regulated Fee Choice (the “RRO”).

Below the GSA, True North Information Programs Ltd (“TNDS”) and Redwater have secured gasoline at a positive price of $0.015 per kilowatt-hour (kWh) in comparison with the typical market price of $0.165 kWh, as reported by the RRO. This achievement not solely demonstrates the Firm’s dedication to delivering cost-effective options but in addition highlights our capacity to forge strategic partnerships that drive worth and improve long-term success.

“The securing of this Fuel Provide Settlement at such a gorgeous price is a significant milestone for TNDS and Redwater,” commented CryptoBlox Interim CEO, Taryn Stemp. “By decreasing our power prices by roughly 90.91% in comparison with the typical market price, we’ve got achieved a big price benefit. This price benefit will enable us to supply extremely aggressive and cost-effective options to our purchasers whereas sustaining the very best requirements of efficiency, reliability, and environmental sustainability.”

The negotiated price of $0.015 kWh, in comparison with the typical market price of $0.165 kWh primarily based on the RRO), displays the Firm’s dedication to delivering inexpensive and sustainable information middle and crypto mining options. By optimizing their operations and passing on the financial savings to their prospects, TNDS and Redwater Acquisition Corp can make sure that purchasers obtain state-of-the-art providers at a aggressive worth.

Ms. Stemp additional commented, “our achievement in negotiating a positive power provide price conjures up us to speculate additional in cutting-edge applied sciences and infrastructure. We hope this can guarantee our information facilities and crypto mining amenities stay on the forefront of effectivity and efficiency.”

Redwater stays targeted on delivering industry-leading information middle and crypto mining options that prioritize cost-effectiveness and environmental sustainability. The favorable GSA not solely strengthens their positions available in the market but in addition reinforces their dedication to driving innovation and delivering unparalleled worth to their purchasers.

On behalf of the Firm,

Taryn Stemp,
Interim Chief Government Officer

About CryptoBlox Applied sciences Inc.

CryptoBlox Applied sciences Inc. is a blockchain expertise firm with diversified portfolio of fintech blockchain providers, blockchain battery applied sciences and functions, and crypto mining amenities below improvement. The Firm’s acquisition of Redwater marks a big milestone in its plan to fulfill the fast-growing demand for cost-effective cryptocurrency infrastructure in North America. By integrating its mining amenities into energy technology amenities in Alberta, and utilizing state-of-the-art operations methods, the Firm shall be positioned to attain a excessive diploma of economic optionality and long-term operational certainty that may ship a few of the cleanest and lowest-cost mining operations on the earth. The Firm lately acquired a 100% curiosity in Redwater Acquisition Corp. which is an organization specializing in air-cooled information facilities and superior warmth recapture merchandise. Dedicated to environmental sustainability, Redwater Acquisition Corp goals to revolutionize the crypto mining sector by way of modern applied sciences that improve effectivity and scale back the {industry}’s carbon footprint.

For additional details about the Firm, please go to https://www.cryptoblox.ca or name 236-259- 0279.

Ahead-Trying Statements

The data on this information launch contains sure info and statements about administration’s view of future occasions, expectations, plans, and prospects that represent forward-looking statements. These statements are primarily based upon assumptions which might be topic to dangers and uncertainties. Ahead- trying statements on this information launch embody, however usually are not restricted to, statements respecting: the long run plans and operations of the Firm and Redwater; the advantages of the GSA; the implications of the GSA on the Firm’s strategic course and future funding in innovation; the Firm delivering cost-effective options and forging strategic partnerships that drive worth and improve long-term success; and the Firm’s dedication to environmental sustainability. Though the Firm believes that the expectations mirrored in forward-looking statements are cheap, it can provide no assurances that the expectations of any forward-looking assertion will show to be appropriate. Besides as required by legislation, the Firm disclaims any intention and assumes no obligation to replace or revise any forward-looking statements to replicate precise outcomes, whether or not on account of new info, future occasions, adjustments in assumptions, adjustments in elements affecting such forward-looking statements, or in any other case.

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