VANCOUVER, BC / ACCESSWIRE / February 25, 2021 / LINK GLOBAL TECHNOLOGIES INC. (CSE:LNK)(FRA:LGT)(OTC PINK:LGLOF) (“LINK” or the “Company”), an innovative power and infrastructure solutions provider for Bitcoin mining and data hosting operations, is pleased to announce that it has signed a binding letter of intent (“LOI”), with arms’ length third party, to acquire majority ownership of an innovative power delivery system intellectual property. LINK has been beta testing this technology over the past two years and early indications have shown energy savings of over 25%. Link is satisfied with the commercialization results and is prepared to start implementation throughout its operations.
Under the terms of the LOI signed February 22, 2020:
- LINK GLOBAL can earn up to 85% of the aforementioned private company.
- LINK GLOBAL will provide stock and cash to the aforementioned private company relative to the efficacy of the technology. Valuation and details of the transaction will be disclosed on closing.
- LINK can apply the technology to new equipment and installations as well as retrofit existing operations.
- LINK has the ability to apply this power-saving solution to other energy applications.
- LINK will control the IP moving forward.
- LINK has the option to license the technology in the future.
LINK President and Chief Executive Officer Stephen Jenkins commented, “After more than 20 years in the clean energy space, my passion has always been exploring innovative solutions. This technology is all about improving efficiency, using less for bigger gains thus incorporating the best aspects of social responsibility and corporate profitability. The excessive power needs for bitcoin mining, demands we look at better ways to operate our systems. This innovative technology, once proven, will give LINK a distinct advantage moving forward. Early beta testing has shown savings of over 25%. These savings are potentially in the multi-millions of dollars with the application, not only in traditional bitcoin mining, but also immersion technology and all data centers in general.” Jenkins goes on to say, “The bitcoin mining space is still relatively new where the emphasis has been concentrated on the computing power of the machines. We are now at the time to rethink and improve our power delivery systems.”
Link and the Private company are finalizing terms and conditions and will have the partnership agreement completed by March 31, 2021.
About Link Global Technologies Inc.
Link is engaged in providing infrastructure and operating expertise for digital mining and data hosting operations. Link’s objectives include locating and securing, for lease and option to purchase, properties with access to low-cost, reliable power, and deploying this low-cost power to conduct digital mining and supply clean energy and infrastructure for other data-hosting services.
On behalf of Link Global Technologies Inc.
Chief Executive Officer…