Canary Mining Inc., a Vertically Integrated Digital Asset Mining Company, Launches in Chicago
The company emphasizes rapid scalability, environmentally friendly natural gas power utilization, and a market-making algorithm to control Bitcoin HODL volatility in its first $15,000,000.00 SAFE Financing Round
CHICAGO, March 29, 2022 (GLOBE NEWSWIRE) — Canary Mining Inc., a Chicago-based vertically integrated digital asset mining company, today announced its official company launch, the rollout of its industry-leading executive team, and its intention to offer $15,000,000.00 in SAFE notes to qualified institutional and accredited buyers in furtherance of its eye on rapid growth and scale.
The launch of Canary Mining in Chicago comes as the crypto market momentum in the city hits a fever pitch just in time for summer. In 2022 alone, downtown Chicago has seen Gemini cryptocurrency exchange, Chicago-based bitcoin ATM operator CoinFlip, and a host of other crypto-based firms announce long-term leases totaling more than 125,000+ square feet with no signs of stopping.
“In the 20th century, Chicago was defined as a financial-industry pioneer with the advent of commodity market trading,” Jonathan D. Herpy Sr., Chief Executive Officer of Canary Mining Inc., says. “Now, this great city has the ability to be a leader once again with invention, innovation, and industry in the digital asset generation.”
Canary Mining focuses on (a) building an industry-leading store of Bitcoin miners, (b) developing financial and market-making intellectual property technology to control Bitcoin HODL volatility, and (c) utilizing environmentally beneficial, company-owned land, and mineral deposits to power Bitcoin mining expansion and scale.
“We are committed to generating our energy and managing our digital assets sustainably, and we believe that we are one of the first vertically integrated crypto asset mining companies with a focus on environmentally beneficial operations utilizing natural gas,” said Herpy when asked for comment about the company launch and trajectory. “As we continue to scale, we are dedicated to operational excellence and structural alignment with key industry partners, including equipment manufacturers, power-generation facility owners, and the broader cryptocurrency/investment ecosystem; all of whom aid our rapid growth strategy. As Chief Executive Officer, I am responsible for the ultimate strategic direction and results of Canary Mining Inc., and I am proud to work with our world-class team to attack this market with speed and precision.”
Canary intends to use the net proceeds from the offering for (i) the purchase of digital asset mining equipment, (ii) general corporate purposes, including marketing and advertising, legal, accounting, audit regulatory, and preparation for the next round of financing (scheduled to be approx. $50,000,000.00), (iii) land and mineral identification, negotiation, and procurement, and (iv) intellectual property research and development.
About Canary Mining
Canary Mining Inc. is a digital asset technology company focused on (a) mining digital Bitcoin assets without infrastructure overhead, and (b) utilizing company-owned, mineral-rich land to scale and expand our digital mining efforts by way of environmentally friendly natural gas reserves in some of the most environmentally and economically neglected regions of the United States.
Canary Mining Inc. – Media Contact
Isabella Pizzo | Telephone: 312-767-6655 | Email: media@canarymining.io
Forward-Looking Statements
This press release includes forward-looking statements, including statements regarding the anticipated terms of the notes being offered, the completion, timing, and size of the proposed offering and the intended use of the net proceeds from the offering. Forward-looking statements represent Canary Mining’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, and risks relating to Canary Mining’s business. Canary Mining may not consummate the proposed offering described in this press release and, if the proposed offering is consummated, cannot provide any assurances regarding the final terms of the offering. The forward-looking statements included in this press release speak only as of the date of this press release, and Canary Mining does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.
Related Images
Image 1: Canary Mining Inc. – Digital Asset Technology
Bitcoin Mining Equipment – ASIC Miners – Canary Mining Inc.
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