360 Blockchain Inc (CSE:CODE) is to invest C$100,000 into ePIC Blockchain Technologies Inc, a firm specialised in providing infrastructure for cryptocurrency mining.
The cash will be used to accelerate the development of ePIC's purpose-built cryptocurrency mining chip, explained George Tsafalas, president and chief executive at 360.
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"The infrastructure required to mine cryptocurrencies represents a massive business opportunity and we are focused on finding start-up technologies that can empower the blockchain revolution and deliver significant results to our shareholders."
Cryptocurrency miners, said 360, are currently repurposing chips not designed to process cryptocurrency, and such chips are sold out as soon as they are available for pre-order.
ePIC's first generation chip is being specifically designed for bitcoin mining and targeted for private beta in the second quarter of 2018 with general availability by the fourth quarter this year.
Scott Howard, the chief executive at ePIC Blockchain Technologies, added: "The growth of bitcoin is driving the cottage mining industry into commercial scale operations.
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"With a block being hashed roughly every 10 minutes, the only advantage available is the ability to place more processing power on the network and chips are the processing power source.
"Crypto miners need dedicated chip producers that are not competing with their clients by mining in parallel and that is what ePIC intends to deliver to its partners like 360."
Shares on Thursday in Toronto added 2% to stand at C$0.26 each.