Ace Digital AS (Euronext Oslo: ACED), through its wholly owned subsidiary Ace
Invester AS, has entered into an agreement with Powerpool Hosting AS (a
subsidiary of Lokotech Group AS), for the purchase of mining machines providing
a total of approximately 48 Gigahashes/s of Scrypt hashrate.
The machines will be hosted in Northern Norway under Powerpool Hosting AS' pilot
program. Hosting services are provided at a fixed rate per kW/h, deducted
directly from the mining revenue. All net mining rewards accrue 100% to Ace
Invester AS.
Expected payback time for the investment is 2-3 years at current market
conditions. The transaction is of limited financial significance for Ace Digital
but represents a strategic step into operational mining activities. The company
will continuously evaluate further commitments should similar opportunities
arise.
In assessing mining projects, Ace Digital places particular emphasis on
predictability in cost per kWh, estimated payback period and return on each
individual investment. Apart from cost, The SOC-certification and it's revenue
maximising algorithms, Powerpools dedication to reduce friction for traditional
business operators was a deciding factor for Ace Digital in its choice of
supplier. Apart from being the least expensive pool operator, we found the
value-added services of, for instance immutable records of revenue generation
and reporting features, important in our choice of both pooling and hosting
services in this new business venture.
Ace Digital is positive about exploring opportunities to expand its cooperation
with PowerPool Hosting and Lokotech Group in the future.
Note: Kristin Åbyholm, a board member of Ace Digital who also serves on the
board of Lokotech Group AS, was not involved in the negotiations or
decision-making related to this agreement. In it's whole, the transaction was
not relevant to The Public Limited Liability Companies Act §3-8.
Contact
Alexander Hagen, CEO Ace Digital AS
E-mail: ah@acedigital.no
About Ace Digital
Ace Digital AS is a holding company dedicated to creating value in the Bitcoin
ecosystem through strategic investments and active ownership in subsidiaries.
Our vision is to be the Nordic region's leading platform for Bitcoin
investments, with Bitcoin as a cornerstone of our balance sheet.
The company is listed on Euronext Growth Oslo under the ticker ACED.
www.acedigital.no
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Cautionary Statement Regarding Forward-Looking Statements:
This announcement contains forward-looking statements within the meaning of
applicable securities laws. These include expectations regarding the offer's
benefits, timing of completion, and ability to integrate the companies. Such
statements are subject to risks, including delays in approvals, integration
challenges, findings in the due diligence process, and market changes. Investors
are urged to read the forthcoming information memorandum/prospectus for details.
No Offer or Solicitation:
This communication does not constitute an offer to sell or a solicitation to buy
securities, nor will there be any sale of securities in jurisdictions where such
offer or sale is unlawful without registration or qualification under applicable
securities laws.