iMining enables SOL (Solana’s native token) staking and exchange, and secures the Solana Blockchain while generating more cryptocurrency. SOL staking is a green, eco-friendly way to mine cryptocurrency and gain exposure to DeFi and NFTs.
Vancouver, British Columbia–(Newsfile Corp. – November 15, 2021) – iMining Technologies Inc. (TSXV: IMIN) (the “Company” or “iMining”) is a publicly listed company that develops technology for Proof of Stake (“POS”) infrastructure on Ethereum and Cardano Blockchains, and invests in revenue-generating crypto and blockchain assets linked to Decentralized Finance (“DeFi”) and Non-Fungible Tokens (“NFT”). The Company also owns BitBit Financial, an ATM Network and crypto exchange, and is enabling exchange and staking of Solano tokens (“SOL”). The expansion into SOL also entails an ecosystem development effort by iMining on select Solana-based DeFi and NFT applications.
Created by Anatoly Yakovenko, Solana operates on a decentralized computer network using a blockchain ledger. SOL believes it is the fastest blockchain and touts its ability to verify 65,000 transactions per second at a cost of less than one cent each. While many people think of crypto coins or tokens as only a currency, it is also a token that can power or enable other apps on the platform. SOL is able to power smart contracts, decentralized finance (“DeFi”) apps, NFTs and more and is the 6th largest cryptocurrency blockchain with a current market capitalization of over $70 billion www.solana.com.
“By building out a wide range of new Solana capabilities on our platform, we are creating more wealth-building tools for our institutional customers, including the ability to stake SOL to earn rewards,” said Khurram Shroff, CEO of iMining. “We are also looking to increase DeFi and NFT functionalities on our platform through Solana’s high-performing technology, which instantly processes thousands of transactions within a second. We believe we are the first publicly traded company to give exposure of Solana blockchain and the SOL Native Token to investors.”
About iMining Technologies Inc. (TSXV: IMIN)
With diverse blockchain investment and infrastructure solutions, iMining is a leader in accelerating the growth of value creating DeFi opportunities for the enterprise market. The company’s operations include secure and sustainable cryptocurrency payments, staking, mining and digital asset investment designed for the scale and compliance requirements of institutional clients. iMining is committed to building strong global blockchain ecosystems and supporting inclusive access to digital tools and technologies.
ON BEHALF OF THE BOARD
Signed “Khurram Shroff“
Khurram Shroff, President & CEO
FOR FURTHER INFORMATION, please contact:
iMining Corporate Offices:
Saleem Moosa, Director
Telephone: 1-604-602-4935 ♦ Facsimile: 1-604-602-4936
Toll Free: 1-866-602-4935
Evan Eadie, Corporate Development
Telephone: (604) 602-4935 ext. 203
Toll Free: 1-866-602-4935
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.
This news release contains certain forward-looking statements, which relate to future events or future performance, and reflect management’s current expectations and assumptions, and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of activities, future cryptocurrency prices, operating risks, and other risks in the cryptocurrency industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.