$SANP ...Santo Mining & Canoe Pool Corporate Update
DORAL, Fla., Nov 16, 2017 (GLOBE NEWSWIRE via COMTEX) --
Santo Mining Corp. (the "Company"
, SANP, +33.33% today both Companies jointly provided an update on the status of the meeting held on November 14, 2017. The board members of Canoe Pool and Mr. Matthew Arnett had a working day meeting in Chengdu China regarding the ongoing cooperation.
The meeting focused on developing a three-phase approach to the cooperation between both companies. The first phase is the development and implementation of Canoe Pool America's Pool management system . Which is currently moving ahead as planned .
This consists of the development of a Bitcoin BTC mining pool management software server for mining hardware systems owned and operated by Canoe Pool America and independent miners to be managed by Canoe Pool America.
This mining pool management software is for the tracking and payout among other management controls of mined Bitcoin BTC blockchains. The ETA of completion is year-end 2017 . Currently the Company has shipped 10 systems that will arrive between 7 to 10 days. The systems are 4-E9, 2-BlackTigerSharks, 2-Bitmain S9 & 2-Ebang ; once arrived in America our CTO Mr. Bansbach will be doing beta testing on power consumption, heat dissipation & hash mining time rate, including synchronization of the mining pool management software.
Once we have establish a baseline, we will move forward in the initial purchase order of 100 to 200 machines for the Canoe Pool America mining location , to be announced in the very near future.
The second phase will be the development of Bitcoin Cash BTH mining pool management server for the mining of Bitcoin Cash BTH by Canoe Pool America; the ETA is middle to end of Q1 2018 . Bitcoin Cash is a new hard fork and this fork has a change to the decentralized currency's consensus rules and aims to upgrade the network's Difficulty Adjustment Algorithm (DAA), making mining much faster to achieve rewards.
The third phase will be intended to assess current business facts and leverage the knowledge gained over the past half year of Canoe Pool America mining operation to capture any material value-enhancing opportunities in preparation and approval of a joint venture between both companies .
Mr. Matthew Arnett, Vice President of Santo Mining stated: "The directors of both companies are in regular open dialogue and have undertaken significant preparation to complete phase one. Our goal is long-term shareholder value ; this will be done by ensuring that each company has a clear understanding of capital resources, market knowledge, technical innovation to better deliver superior mining blockchain payouts for the pool and its members."
About Chongqing Yuhuan Technology Co., Ltd a.k.a. Canoe Pool (www.canoepool.com)
Canoe Pool (Chongqing Yuhuan Technology Co., Ltd), led by its founder Li Ang since 2013, is one of the fastest growing Bitcoin mining companies in China with two large-size mining farms in Sichuan and Xinjiang, China; and with a total capacity of 75 thousand kilowatts, accommodating up to 50 thousand of the latest Bitmain S9 mining machines. Canoe pool has a total hashrate potential of 700P. Miners can choose between PPS or PPLNS payment systems with fees of 2% or 4%, accordingly. Canoe Pool currently supports Bitcoin Unlimited and represents 1.7% of the global crypto currency mining market share.
About Santo Mining Corp.
About Santo Mining Corp. Santo Mining Corp, a publicly traded company in the Over-the-Counter (OTC) market, trading under the ticker symbol SANP. Formally an analog mining company in the gold and copper sector, it has now focused on the digital cryptocurrency mining and transactions operations. Our goal is to make mining accessible to all users regardless of age, location, investment, and technical experience. We want to give our miners the opportunity to try out cryptocurrency mining pool and earn cryptocurrency rewards. On a larger scale, we hope to contribute to the development of mining services and subsequently to the development, establishment and adoption of cryptocurrencies both as a currency and as an economic system.
Media contacts:
Mr. Matthew Arnett
844.420.4203
info@santomining.io
https://www.marketwatch.com/story/santo-minin...2017-11-16
DORAL, Fla., Nov 16, 2017 (GLOBE NEWSWIRE via COMTEX) --
Santo Mining Corp. (the "Company"
, SANP, +33.33% today both Companies jointly provided an update on the status of the meeting held on November 14, 2017. The board members of Canoe Pool and Mr. Matthew Arnett had a working day meeting in Chengdu China regarding the ongoing cooperation. The meeting focused on developing a three-phase approach to the cooperation between both companies. The first phase is the development and implementation of Canoe Pool America's Pool management system . Which is currently moving ahead as planned .
This consists of the development of a Bitcoin BTC mining pool management software server for mining hardware systems owned and operated by Canoe Pool America and independent miners to be managed by Canoe Pool America.
This mining pool management software is for the tracking and payout among other management controls of mined Bitcoin BTC blockchains. The ETA of completion is year-end 2017 . Currently the Company has shipped 10 systems that will arrive between 7 to 10 days. The systems are 4-E9, 2-BlackTigerSharks, 2-Bitmain S9 & 2-Ebang ; once arrived in America our CTO Mr. Bansbach will be doing beta testing on power consumption, heat dissipation & hash mining time rate, including synchronization of the mining pool management software.
Once we have establish a baseline, we will move forward in the initial purchase order of 100 to 200 machines for the Canoe Pool America mining location , to be announced in the very near future.
Quote:The goal is to have over 2,000 owned and operated hardware mining systems, by today's Bitcoin BTC value the monthly profit for each mining system is between $380 to $420.
The second phase will be the development of Bitcoin Cash BTH mining pool management server for the mining of Bitcoin Cash BTH by Canoe Pool America; the ETA is middle to end of Q1 2018 . Bitcoin Cash is a new hard fork and this fork has a change to the decentralized currency's consensus rules and aims to upgrade the network's Difficulty Adjustment Algorithm (DAA), making mining much faster to achieve rewards.
The third phase will be intended to assess current business facts and leverage the knowledge gained over the past half year of Canoe Pool America mining operation to capture any material value-enhancing opportunities in preparation and approval of a joint venture between both companies .
Mr. Matthew Arnett, Vice President of Santo Mining stated: "The directors of both companies are in regular open dialogue and have undertaken significant preparation to complete phase one. Our goal is long-term shareholder value ; this will be done by ensuring that each company has a clear understanding of capital resources, market knowledge, technical innovation to better deliver superior mining blockchain payouts for the pool and its members."
Quote:Additionally Mr. Li Ang, CEO of Canoe Pool stated: "We were so excited to meet with Matt Arnett in Chengdu on November 14th 2017. Together we are developing what we hope to soon be the world's best and biggest Bitcoin Cash Pool. We are committed to building the Americas with Santo who is our most vital and strategic partner. Our first priorities is building the Americans pools hash rate and mining capacity. We want to invite all Americans to join the movement-revolution."
About Chongqing Yuhuan Technology Co., Ltd a.k.a. Canoe Pool (www.canoepool.com)
Canoe Pool (Chongqing Yuhuan Technology Co., Ltd), led by its founder Li Ang since 2013, is one of the fastest growing Bitcoin mining companies in China with two large-size mining farms in Sichuan and Xinjiang, China; and with a total capacity of 75 thousand kilowatts, accommodating up to 50 thousand of the latest Bitmain S9 mining machines. Canoe pool has a total hashrate potential of 700P. Miners can choose between PPS or PPLNS payment systems with fees of 2% or 4%, accordingly. Canoe Pool currently supports Bitcoin Unlimited and represents 1.7% of the global crypto currency mining market share.
About Santo Mining Corp.
About Santo Mining Corp. Santo Mining Corp, a publicly traded company in the Over-the-Counter (OTC) market, trading under the ticker symbol SANP. Formally an analog mining company in the gold and copper sector, it has now focused on the digital cryptocurrency mining and transactions operations. Our goal is to make mining accessible to all users regardless of age, location, investment, and technical experience. We want to give our miners the opportunity to try out cryptocurrency mining pool and earn cryptocurrency rewards. On a larger scale, we hope to contribute to the development of mining services and subsequently to the development, establishment and adoption of cryptocurrencies both as a currency and as an economic system.
Media contacts:
Mr. Matthew Arnett
844.420.4203
info@santomining.io
https://www.marketwatch.com/story/santo-minin...2017-11-16
