CryptoBlox Technologies Inc. is pleased to announce that it has entered into an arm’s length definitive share purchase agreement dated January 17, 2023, with CryptoTherm (defined herein) and 1289048 B.C. Ltd. (the “Vendor”) to acquire from the Vendor 100% of the outstanding shares of CryptoTherm Manufacturing Inc. (“CryptoTherm”).
The Company will use CryptoTherm’s industry leading immersion cooling and thermal heat exchange technology as it grows its digital currency blockchain division. The Company will also allocate resources to grow CryptoTherm’s business of selling immersion pods, ASIC miners, cryptovaults and cooling immersion fluids.
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This strategic acquisition is a continuation of the Company’s focus on its digital currency division and follows other strategic investments such as the Company’s investment in Optimal CP, Inc. The Company’s goal is to become a significant player in the digital currency space and further solidify its position in the industry.
“I am thrilled with this agreement with CryptoBlox,” stated Austin Bank, CEO of CryptoTherm. “This acquisition will allow us to join forces and leverage our complementary strengths to achieve even greater success. I am confident that together, we will be able to explore new opportunities and unlock the full potential of our combined expertise and resources. I am excited for the future possibilities that this acquisition brings and look forward to working with the talented team at CryptoBlox to drive innovation and growth in the digital currency industry,” added Mr. Bank.
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