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Here you can find our press releases. press releases published by Vertical Ventures prior to the Reversed Acquisition of Arcane can be found in our archive. (Only available in Swedish)
Stockholm, September 8, 2021 - Arcane Crypto AB ("Arcane Crypto" or the "Company") has today, through the Company's subsidiary Arcane Green Data Services, which operates in the Arcane Green Data business unit, entered into a purchase agreement to acquire 352 Antminer s19 Pro (110 TH/s), representing a total of 38,720 Terra Hash (TH) of computing power, at a total cost of approximately SEK 35 million. The miners are expected to become operational during Q3 this year.
"We expect our mining operation to bring substantial revenue to the Arcane Crypto group. At current market conditions, the miners we have ordered would generate around SEK 3.5 million in monthly revenue and be highly profitable. From Q1 next year, we have the hosting capacity to double this mining activity. In addition, we are exploring further scale up through new hosting arrangements. Mining is the mechanism securing the bitcoin blockchain and we are committed to securing the bitcoin blockchain in the cleanest way possible, with renewable energy." - says Torbjørn Bull Jenssen, CEO Arcane Crypto.
He goes on and adds: "In addition, we see strong synergies with the rest of our portfolio in Arcane Crypto. Going forward we will explore product development around our mining operation, such as cloud mining and the use of derivatives trading to enhance risk management and drive profitability."
The business of Arcane Green Data Services will be to produce and supply the raw data processing power, while other parts of the group focus on using the data processing power in the most optimal way, including, but not limited to, selecting the optimal mining arrangement and potentially using derivatives and other financial instruments to balance and optimise risk. At current market conditions, with a total global hash rate of approximately 130m TH/s (7 day average) and a bitcoin price of around USD 46,000, the 38,720 TH/s computing power represent a monthly income potential of around SEK 3.5 million for the Arcane Green Data group as a whole. In addition to the investment itself, Arcane will incur electricity, hosting and administrative costs related to the operation.
This information is information that Arcane Crypto AB is required to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the agency of the below contact person, for publication on 8 September 2021 at 08:00 CET.
For further information, please contact:
Torbjørn Bull Jenssen, CEO, Arcane Crypto AB
About Arcane Crypto
Arcane Crypto develops and invests in projects, focusing on bitcoin and digital assets. Arcane operates a portfolio of businesses, spanning the value chain for digital finance. As a group we deliver services targeting payments, investment, and trading. In addition, we have a media and research division.
Arcane has the ambition to become a leading player in the digital assets space by growing the existing businesses, invest in cutting edge projects, and through acquisitions and consolidation.
Subscribe to press releases and financial information: https://investor.arcanecrypto.se/
For more information, please visit: https://www.arcane.no/
The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser, tel. +46 8 5030 1550, e-mail: email@example.com, web: www.mangold.se.
In parallel Arcane has initiated a strategic review of its investment and venture business to exploit current market opportunities.
Third quarter of 2022 (compared to third quarter 2021)
- Group revenue decreased to 52,186 kSEK (81,166)
- EBITDA amounted to -7,336 kSEK (-6,059)
- EBIT amounted to -12,703 kSEK (-8,105)
- The result for the period amounted to -13,290 kSEK (-7,766)
- Earnings per share before dilution amounted to SEK -0.002 (-0.001) and after dilution to SEK -0.001 (-0.001)
Arcane Crypto bjuder härmed investerare, analytiker och media till en webcastpresentation som hålls av VD Torbjørn Bull Jenssen i samband med att bolagets delårsrapport för tredje kvartalet 2022 publiceras. Webbsändningen kommer att hållas tisdagen 8 november 2022 klockan 10:00.
Arcane Crypto hereby invites investors, analysts and media to a webcast presentation hosted by CEO Torbjørn Bull Jenssen in connection to the publication of the company's Interim Report for the third quarter 2022. The webcast will be held on Tuesday November 8, 2022 at 10:00 CET.
Press releases and reports to your E-mail