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by Stockwatch Business Reporter
The TSX Venture Exchange lost 9.56 points to 880.36 Thursday. David Berg's investment issuer, Block One Capital Inc. (BLOK) dropped 14 cents to $1.06 on 884,000 shares. The company has had to retract and clarify some of its statements, including a magnificent $26-million-a-year revenue projection, at the behest of the regulator IIROC. Block One is entering the cryptocurrency mining business, so it is promotionally hopeful that it will generate revenue shortly.The company's plans are still in the early stages though. So far, it has paid $2.91-million (U.S.) to acquire 90 per cent of TG12 Ventures Inc., a private B.C. company that has placed orders for 2,000 cryptocurrency mining machines. TG12 says the $2.9-million (U.S.) was a deposit for the first 1,000 machines. It will need another $3-million (U.S.) to pay for the rest. The machines, named Bitmain S9 Antminers of course, are coming from China. The first 1,000 could arrive this month, but they will not be operational until at least February.
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