Cryptoblox Technologies Inc. (CNSX:BLOX) entered into a Share Purchase Agreement to acquire Red Water Acquisition Corp. on June 16, 2023. The Company has secured plans to deploy up to 1 megawatt (MW) of capacity within Redwater with potential expansion plans of up to 3 MW over the next 18 to 24 months in collaboration with True North Data Solutions. Furthermore, True North Data Solutions and Redwater have secured an advantageous gas supply agreement (GSA) that is expected to reduce energy costs by 90.91% as compared to average market rates, coming in at $0.015 per kilowatt-hour (kWh). Powering Redwater?s mining operations with flared gas could allow for sustainable and cost-effective mining, which will have a positive impact on profitability, irrespective of market conditions, while showcasing the Company?s commitment to environmental sustainability.

Cryptoblox Technologies Inc. (CNSX:BLOX) completed the acquisition of Red Water Acquisition Corp. on June 29, 2023