Mining-as-a-service has become quite popular with audience, who can't afford a rig or don't want to have a noisy and power-hungry machine running all day long in their house. And one of the largest players in this field in Canada – HyperBlock Technology Corp plans to grow larger still. They announced that they entered a purchase agreement with CryptoGlobal.
HyperBlock plans to buy out CryptoGlobal for a whopping sum of 106 million Canadian dollars, which is roughly equivalent to US$83 million. If the acquisition comes through smoothly, HyperBlock will become one of the largest players in the market of outsource mining.
Toronto-based CryptoGlobal currently is in the business of mining Bitcoin, Ethereum, Litecoin and Dash. And when their computing power joins the market of mining-as-a-service under HyperBlock's flag, it would make a significant impact. HyperBlock's CEO Sean Walsh commented, that this deal furthers the goal of his company to become a comprehensive direct-to-consumer crypto company, offering products and services to the customers to make and manage their crypto-asset investments. Also he added that after the acquisition is finished, HyperBlock plans to be listed on the Canadian Securities Exchange, which is expected around the end of May this year.