Founded during the 2017 cryptocurrency boom, Neptune is one of the first and longest-running cryptocurrency companies on a Canadian stock exchange (TSXV:NDA).
Neptune’s portfolio of investments and cryptocurrency operations across the digital asset ecosystem include staking cryptocurrency, running blockchain nodes, participating in decentralized finance (DeFi), and Bitcoin mining.
As a publicly-traded company, Neptune is designed to be diversified exposure to cryptocurrency and blockchain assets while generating substantial revenue through a number of yield models.
The company will use the new funds for the development of a 5MW clean tech Bitcoin mining facility, purchase of ASIC Bitcoin mining machines, and proof-of-stake investments.
Neptune recently demonstrated its commitment to clean energy Bitcoin mining with a joint venture with Link Global Technologies to co-develop a 5MW renewable energy Bitcoin mining facility in Alberta.
The agreement comes amid rising criticism for the energy used by the crypto mining industry and its impact on climate change.
“We expect there to be substantial global pressure to develop sustainable bitcoin mining operations around the world,” said Neptune’s CEO Cale Moodie. “We hope as a team to become a major powerhouse in low-cost, carbon-neutral mining and tapping available carbon credits for exchange in that burgeoning marketplace.”