Monday, April 28, 2025

Latest

Graph Blockchain Completes Acquisition Of Babbage Mining

Graph Blockchain (CSE: GBLC) this morning closed the acquisition of Babbage Mining Corp. The firm is focused on developing what it refers to as a best-in-class cryptocurrency miner, with the focus of generating revenue through proof of stake mining for tokens and altcoins.

Babbage is currently focused on a number of aspects within the cryptocurrency space in addition to mining. For instance, the company is focused on mining the most disruptive currencies with potential upside, such as Layer 2 Scaling, which is tech that improves transaction speed and throughput, as well as decentralized finance protocols.

The new subsidiary will also look to place capital directly into certain tokens where it is instructed to use it towards mining as a means of returning additional tokens while providing additional exposure to the appreciation of the currency being mined.

“The acquisition of Babbage will help position Graph in the evolving and rapidly expanding cryptocurrency space. Graph now has a platform in Altcoin for employing blockchain transactions through crypto mining, related payments on blockchain, and a variety of subsequent support services.”

Andrew Ryu, CEO of Graph Blockchain

Under the terms of the transaction, Graph issued 60.0 million units of the company to the shareholders of Babbage. Each unit contains one common share and one common share purchase warrant, with warrants valid for a period of 18 months from the date of issuance and subject to an acceleration clause. Overall, the aggregate purchase price for Babbage amounts to $4.8 million.

Graph Blockchain last traded at $0.31 on the CSE.


FULL DISCLOSURE: Graph Blockchain is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Graph Blockchain on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Leave a Reply

Video Articles

Bell Q3 Earnings: Massive Impairments. Guidance Cuts. A Mess.

Alamos Gold Q3: Record Revenue & Production Amid Rising Costs

The Junior Mining Market Is Back

Recommended

Germany Looks To Modernize Military Recruitment But Stops Short of Conscription

First Majestic Silver Posts Topline Revenue Of $146.1 Million In Q3 2024

Related News

Graph Blockchain Closes $2.3 Million Financing

Graph Blockchain (CSE: GBLC) this morning announced the closing of its previously announced private placement....

Friday, February 19, 2021, 08:33:24 AM

Graph Blockchain Invests In LINK For Proof Of Stake Mining

Graph Blockchain (CSE: GBLC) issued a very brief press release this morning, revealing the final...

Thursday, April 8, 2021, 07:18:32 AM

Graph Blockchain Places Further $2.0 Million Into Altcoins For Proof Of Stake

Graph Blockchain (CSE: GBLC) this morning issued a brief news release, indicating that it has...

Tuesday, April 6, 2021, 07:30:43 AM

Graph Blockchain Completes Acquisition Of Beyond The Moon

Graph Blockchain (CSE: GBLC) this morning announced that closing of the acquisition of Beyond The...

Thursday, June 10, 2021, 08:33:55 AM

Graph Blockchain Acquires NFT Platform New World

Graph Blockchain (CSE: GBLC) has entered the world of non-fungible tokens, or NFT’s. The company...

Monday, July 5, 2021, 07:51:54 AM