Long Blockchain has entered into an agreement to purchase 1,000 Antminer S9 mining rigs and 1,000 APW3++ PSUs, is expected to be shipped in January 2018 directly to a secure data center in Iceland to immediately commence mining operations. The mining equipment will be installed in a world-class third-party data center experienced in cryptocurrency mining.
Long Blockchain expects to benefit from an established infrastructure and competitive energy costs using geothermal and hydro-electric power sources. The commencement of its mining operations places the Company on a path to generating blockchain-related revenue through the accumulation of bitcoin. This platform will help support its longer-term strategy of engaging in partnerships, investments and acquisitions in the blockchain ecosystem.