BTCST and Standard Hashrate Group Invest in Bitcoin Mining in Tblisi, Georgia

NEW YORK, May 27, 2021 (Newswire.com) - Standard Hashrate Group ("SHG") is an open platform where prominent miners contribute their Bitcoin hashrate to form the foundation of DeFi innovations. Today, SHG announced that it has entered into a tentative investment term sheet with a local partner based in Tblisi, Georgia to acquire and operate a cryptocurrency mining facility in a Free Industrial Zone ("the Tblisi FIZ Site"). Pursuant to the tentative term sheet, SHG will invest the equivalent of USD 3.10 million to jointly acquire and operate the Tblisi FIZ Site with an expected capacity of 29 MW.

About Standard Hashrate Group

SHG is an open platform where prominent miners contribute their Bitcoin hashrate for DeFi innovations. With SHG's successful launch of Bitcoin Standard Hashrate Token ("BTCST") on Binance Launchpool, SHG has cemented its place as the leader in creating and operating hashrate assets. Investment in global mining facilities, such as the Tblisi FIZ Site, further demonstrates SHG's commitment to hashrate stability.

"Tblisi, Georgia has long been the host city of some of the largest cryptocurrency mining summits, where industry leaders discuss innovative ideas that help shape the industry. We believe the Tblisi FIZ Site's welcoming policies and stable regulations on cryptocurrency mining will make the hashrate foundation of BTCST even more robust," said Alex Zhao, CEO of SHG.

About BTCST

BTCST is the benchmark asset protocol to bring Bitcoin hashrate to DeFi. With BTCST's implementation of Tau (τ), a protocol to synthesize proof-of-work blockchain assets, BTCST has formed the base for τAssets, which is a new generation of synthetic assets exhibiting superior price pegs.

For more information, check out: https://btcst.finance.

Source: Standard Hashrate Group