CryptoBlox Technologies Inc. (CSE: BLOX) acquired a data center builder that uses air cooling and heat recapture technologies to help cut costs on its Bitcoin mining operation for $11 million.
The company entered into a share purchase agreement on Tuesday to acquire all of air-cooled data centre specialist, Redwater.
Air cooling and heat recapture enhance energy efficiency, reducing operational costs and environmental impact for crypto mining. These technologies promote sustainable practices and optimize efficiency of the mining facility by managing heat generated during mining.
Cryptoblox has also acquired the rights to develop a location in Sturgeon County, Alberta, Canada for its operations. This location will be used as the base for Redwater’s advanced facility dedicated to mining cryptocurrencies.
CryptoBlox has agreed to acquire all of the shares of Redwater. In exchange, CryptoBlox will issue 220 million common shares of…
