Codebase Ventures Inc (CSE:CODE) (FRA:C5B) (OTCQB:BKLLF) has announced that in the face of industry-wide supply delays, it has amended its old agreement for bit mining infrastructure, to ensure “certainty on timing, as well as greater profitability with the same number of rigs.”
"We have been working extensively with our supplier in the face of industry-wide delays resulting from high demand, and now have amended the agreement signed earlier this year to secure the initial rigs for delivery to the hosting facility within 60 days," Codebase CEO George Tsafalas said in a statement.
Thanks to the changes, Codebase will now receive for the same price, 115 Bitmain Antminer S17+ 76Th miners, replacing the previously announced Canaan A1246 miners. “The new Bitmain rigs are comparable to the previously expected Canaan miners,” said the company.
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“The mining rigs will go into operation in New York State as previously planned, and all other terms of the original agreement remain the same,” added the company.
Under current circumstances, Codebase said it sought a new solution to “gain certainty on timing due to microchip shortages.” As a result, the new bit mining infrastructure will be operational sooner than originally planned, noted the company.
In addition to the speedy delivery, Codebase said Bitmain remains "one of, if not the most dominant and well-respected manufacturer of bit mining equipment in the industry."
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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