CryptoBlox Comments on Surging Kaspa Prices

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CryptoBlox’s strategic bet on Kaspa looks good with the recent price increases

VANCOUVER, British Columbia, Nov. 11, 2024 (GLOBE NEWSWIRE) — CryptoBlox Technologies Inc.a company“or”CryptoBlox(CSE: BLOX) is pleased to comment on its recent strategic bet on Kaspa, with the company’s pending acquisition of Kaspa miners, as described in the company’s press release dated October 31, 2024. The company expects to close the acquisition this week and the timing looks great amid a rising price Kaspa Market.

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Why Kasba?

Kaspa uses innovative Proof of Work (PoW) technology. This will allow CryptoBlox to focus on mining Kaspa at a more efficient and theoretically more profitable rate than other cryptocurrencies.¹. By mining and holding Kaspa, the company hopes to not only strengthen its position within the growing Kaspa ecosystem, but also deliver superior returns to shareholders through exposure to Kaspa.

What sets Kaspa apart from the proof-of-work ecosystem?

Unlike traditional digital assets based on blockchain technology, Kaspa takes advantage of the latest technologies blockDAG structurea highly efficient version of Proof of Work (PoW) designed to process transactions with unparalleled speed and security. As the digital asset market evolves, the company believes these advantages will position Kaspa as a scalable and versatile asset, suitable to outperform traditional proof-of-work assets such as Bitcoin in terms of ease of use and transaction speed.

Why CryptoBlox Is Bullish on Kaspa

The recent rise in the Kaspa (KAS) market price indicates that the market overall is becoming increasingly optimistic about the long-term growth potential of KAS. The company believes that KAS will outperform other Proof-of-Work (PoW) cryptocurrencies, as investors look for alternative assets based on sustainable mining practices and lower operating costs.

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CryptoBlox CEO, Akshay Sood commented:

“Kaspa presents a compelling opportunity in the proof-of-work digital asset space, with technological advantages that we believe will translate into long-term value appreciation. As we expand our Kaspa mining capabilities, we position CryptoBlox as a leader within this rapidly growing ecosystem.”

“Bitcoin has been hitting record highs, which is great for the company’s Redwater website, but in recent weeks Kaspa has outperformed Bitcoin significantly and we expect this trend to continue as cryptocurrencies continue to rise.”

Benefit from Kaspa’s efficient and low-cost mining operations

On October 31, 2024, the Company announced the acquisition of the turnkey mining operation in Kasba. Once closed, the Company believes this acquisition will improve CryptoBlox’s operational efficiency (and therefore profitability), based on the economics of a management services agreement that will support the Company’s Kaspa mining operation and serve as an important part of the transaction. The company hopes to complete the acquisition this week.

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On behalf of the company,

akshay sood,
chief executive officer

About CryptoBlox Technologies Inc.

Cryptoblox Technologies Inc. It is a blockchain technology infrastructure company focused on building its diversified blockchain ecosystem strategy which consists of digital asset mining, infrastructure, mining products, technology, and regulated blockchain products and services.

For more information about the company, please visit www.cryptoblox.ca Or call 236-259-0279.

Forward-looking statements

The information in this press release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based on assumptions that are subject to risks and uncertainties. Forward-looking statements in this press release include, but are not limited to, statements regarding: the completion and timing of the Kaspa Miners Acquisition; the impact of Kaspa’s proof-of-work architecture on the company’s efficiency and profitability; The Company’s hope to strengthen its position within the growing Kaspa ecosystem and achieve superior shareholder returns through exposure to Kaspa; Kaspa’s advantages make it a scalable and versatile asset, suitable for outperforming traditional proof-of-work assets; Optimism regarding cryptocurrencies; Kaspa outperforms other cryptocurrencies; Investors looking for alternative proof-of-work assets based on sustainable mining practices and reduced operating costs; Kaspa’s advantages translate into long-term value appreciation; The company is positioned to become a leader in the Kaspa ecosystem. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurances that the expectations reflected in any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and undertakes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions or changes in factors affecting such future expectations. – Appearance statements, etc.

The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved the contents of this news release.

¹ Based on the following assumptions: i) CryptoBlox obtains the most advanced Kaspa mining machines, ii) CryptoBlox secures competitive electricity prices to run Kaspa mining operations, and iii) Kaspa price continues to outperform other major assets such as Bitcoin.

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