- Hyper Bit Technologies (OTC: HYPAF) secures CAD$160,000 loan for purchasing crypto mining equipment.
- The 10 ElphaPex DG1+ miners will be used to mine Dogecoin (DOGE) and Litecoin (LTC) at a renewable energy facility in Quebec, Canada.
- The company is also progressing towards acquiring Dogecoin Mining Technologies Ltd to expand its cryptocurrency operations.
Hyper Bit Technologies Ltd. (OTC: HYPAF) has secured a combined CAD$160,000 loan agreement with three arm's length lenders to finance the purchase of ten ElphaPex DG1+ miners. These miners are intended for mining Dogecoin (DOGE) and Litecoin (LTC). The mining equipment will be hosted at an 11 MW renewable energy-powered facility in Quebec, Canada, aligning with Hyper Bit's strategy to leverage green energy in its cryptocurrency operations.
CEO Dallas La Porta expressed confidence in the company's forward trajectory in both crypto mining and cryptocurrency treasury asset acquisition. Hyper Bit is also working towards a definitive agreement to acquire Dogecoin Mining Technologies Ltd. This move is part of their broader strategy to offer investors comprehensive exposure to the cryptocurrency sector, leveraging strategic partnerships and financing mechanisms.
As part of their ongoing expansion efforts, Hyper Bit remains committed to building its crypto treasury and providing compliant exposure to the cryptocurrency market for its stakeholders. The loan will carry an interest rate of 10% per annum, with an additional 15% loan fee applied.
