CryptoBlox Technologies Inc., is pleased to announce that, further to its news release dated July 25, 2023, through the partnership between the Company’s wholly owned subsidiary, Red Water Acquisition Corp., and Lavrium LLC, Lavrium will be applying their AI energy efficiency optimization algorithms to Redwater’s mining operations.
As the cryptocurrency mining industry faces increasing pressure to maximize energy efficiency, Lavrium’s cutting-edge AI algorithms offer an effective solution. By analyzing data such as transaction volumes, power usage effectiveness (PUE), and hash rates, Lavrium’s algorithms can predict optimal mining periods based on historical and real-time data. The Company hopes that this novel approach will allow Redwater to maximize their return on energy investment while significantly reducing operational costs.
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One of the key advantages of Lavrium’s algorithms is their adaptability through machine learning. As the algorithms continuously learn and refine their predictions, they improve energy efficiency over time, resulting in more economical and environmentally friendly mining operations. The Company hopes this will not only enhances Redwater’s profitability but also contribute to a sustainable energy future.
“Lavrium’s revolutionary AI energy efficiency optimization algorithms could prove to be a game-changer for the cryptocurrency mining industry. We are excited to partner with Lavrium to transform our mining operations and increase our efficiency,” commented CryptoBlox Interim CEO, Taryn Stemp.
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The integration of Lavrium’s advanced AI technology into Redwater’s mining operations is expected to drive significant improvements in energy efficiency and overall profitability. The implementation of these algorithms will be facilitated by True North Data Systems, a renowned data center solutions provider working in collaboration with Redwater.
About CryptoBlox Technologies Inc.
CryptoBlox Technologies Inc. is a blockchain technology company with diversified portfolio of fintech blockchain services, blockchain battery technologies and applications, and crypto mining facilities under development. The Company’s acquisition of Redwater marks a significant milestone in its plan to meet the fast-growing demand for cost-effective cryptocurrency infrastructure in North America.
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