Vancouver, British Columbia--(Newsfile Corp. - July 15, 2021) - Ocean Falls Blockchain Corp. ("OFB" or the "Company"), an environmentally conscious cryptocurrency miner with burgeoning blockchain technologies in development, announces it has joined the Crypto Climate Accord. The Company hopes that others in the industry will also step up to help do their part in reducing carbon emissions by adapting to clean energy alternatives.
Surging demand for cryptocurrencies and accelerating adoption of blockchain-based solutions have highlighted a critical issue: the technology's growing energy consumption and its impact on our climate. The Crypto Climate Accord is working collaboratively with Ocean Falls Blockchain and others in the crypto industry-including all blockchains-to transition to 100% renewables.
In cooperation with fintech and crypto industry leaders, Energy Web Foundation, the Alliance for Innovative Regulation and RMI, have launched the Crypto Climate Accord. The Accord, inspired by the Paris Climate Agreement, is a private sector-led initiative for the entire crypto community focused on decarbonizing the cryptocurrency industry in record time.
Projects in Canada and around the world are now looking to wean crypto mining away from fossil fuels, such as using hydroelectricity, solar and wind energy which positions Ocean Falls Blockchain to lead this charge with its current hydroelectric operations, utilization of excess power and clean carbon footprint.
Oded Orgil, the Company's CEO stated, "OFB is proud to support the Crypto Climate Accord as both a signatory and supporter of the Accord's objectives and goals. As a unified blockchain technology company and renewable energy crypto miner OFB endorses the CCA's mandate to decarbonize the crypto industry and move towards a net zero emissions target by 2030 using best industry practices."
About Ocean Falls Blockchain Corp.
Ocean Falls Blockchain Corp. is a well capitalized and unified blockchain technology company focused on developing or acquiring relevant and disruptive blockchain applications, in addition to an environmentally conscious boutique cryptocurrency mining operation located in the historic town of Ocean Falls, British Columbia.
Additional information on the Company is available at www.oceanfallsblockchain.com.
For Further information, please contact:
Chief Executive Officer
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the Company's ability to generate a portfolio of revenue-generating blockchain technology applications; the Company's ability to continue generating ongoing and increasing revenues from its Bitcoin mining operations; and the Company's ability to develop an encompassing array of assets, intellectual property and blockchain-based businesses; the ability of the Company's insurance applications to reduce costs and automate processes; the Company's ability to complete infrastructure upgrades to accommodate capacity of over 2MW; the Company's ability to complete the infrastructure upgrades by August 2021; the Company's ability to scale up its mining activities; and the Company's ability to achieve a listing on the CSE.
Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company's ability to continue as a going concern; the continued commercial viability and growth in popularity of blockchain applications; the Company's ability to continue to develop revenue-generating applications; continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; the continued development of blockchain technology; the continued growth of the Company; the Company's ability to finance the infrastructure upgrades; the Company's ability to complete the upgrades by August 2021; the Company's ability to maintain its favourable relationship with Boralex; the Company's ability to effectively scale-up its mining activities; and the ability of the Company to fulfil the listing requirements of the CSE.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; the risks associated with the blockchain industry in general; increased competition in the blockchain-mining market; the potential future unviability of the blockchain market; incorrect assessment of the value and potential benefits of various transactions; risks associated with potential governmental and/or regulatory action with respect to the blockchain mining; risks associated with a potential collapse in the value of blockchain-related services; risks associated with the Company's potential inability to attain board, shareholder and/or regulatory approval with respect to the planned listing on the CSE; risks associated with the Company's ability to continue generating a profit; risks associated with financing the Company's infrastructure upgrades; risk that the Company's infrastructure upgrades may not increase the Company's mining capabilities to over 2MW; risks associated with potential delays in the completion of the infrastructure upgrades; the Company's potential inability to generate a portfolio of revenue-generating blockchain technology applications; the Company's potential inability to maintain its favourable relationship with Boralex; the potential inability of the Company's insurance applications to reduce costs and automate processes; and risks associated with the Company's ability to meet CSE listing guidelines.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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