Codebase Ventures Inc. (CSE:CODE) (FRA:C5B) (OTCQB:BKLLF) has provided an update on the current bitcoin ecosystem and the company's bitcoin mining infrastructure.
As the Bitcoin and cryptocurrency markets continue to show increasing strength, Codebase announced that its Bitcoin mining machines are currently being prepped for immediate release to their hosting facility in upstate New York. This first tranche of 115 state of the art Canaan A1246 miners are to be delivered and operational in the coming weeks.
READ: Codebase Ventures says Arcology has optimized the popular CryptoKitties blockchain game with faster speeds
With Bitcoin establishing new support levels fueled by institutional investors and individuals alike, Morgan Stanley became the first big US bank to offer clients access to bitcoin funds on March 17, 2021.
"The level of acceptance indicated by this first big US bank to enable ownership of Bitcoin broadens the opportunities and applications for cryptocurrencies, aligning with Code's efforts in establishing Bitcoin mining infrastructure for the long-term," commented George Tsafalas, Codebase CEO in the statement.
Codebase Ventures seeks early-stage investments in sectors that have significant upside. The company seeks innovators who are establishing tomorrow's standards and supports those innovators and help them take their ideas to market.
Earlier this week, Codebase revealed that it had engaged seasoned investor and entrepreneur Jacob Chernoff in order to maximize results for the company’s Bitcoin mining operations and ongoing blockchain investments.
Codebase noted that Chernoff has worked with a number of public companies over past six years, evaluating and revising blockchain-based business proposals, raising seed capital, and deconstructing complex technical aspects of blockchain and cryptography into an easily-digestible format.
Contact the author at jon.hopkins@proactiveinvestors.com