A few days ago, CryptoBlox Technologies Inc. announced, further to its news release dated June 19, 2023, that it has completed its acquisition of Red Water Acquisition Corp., a company specializing in crypto mining technology.
As discussed in the Prior Release, Redwater’s air-cooled data centres and advanced heat recapture products have obtained development rights for its operations in Sturgeon County, Alberta, Canada. This site will serve as the foundation for Redwater’s state-of-the-art crypto mining facility, designed for efficiency and cost-effectiveness.
CryptoBlox and Redwater are committed to sustainable and responsible practices in the crypto-mining industry. Through Redwater, CryptoBlox intends to invest in energy-efficient solutions and environmentally friendly mining practices, aligning with its vision of promoting a greener and more sustainable future for the blockchain ecosystem.
Completing the Acquisition marks a significant milestone for CryptoBlox as it strengthens its position as a leading player in the crypto-mining industry. “Redwater’s experience in crypto-mining aligns with our strategic vision of providing comprehensive blockchain solutions,” commented CryptoBlox Interim CEO Taryn Stemp. “Together, we plan to unlock new opportunities and deliver unparalleled value to our clients and partners.”