KryptoByte partners with Archax on Bitcoin mining and treasury

KryptoByte, which is seeking to transform stranded energy into digital assets, is pleased to announce a partnership with Archax, a leading UK based digital asset exchange, broker and custodian.

As part of the partnership, Archax will become the custodian for Bitcoin generated and acquired by KryptoByte and will support the development of KryptoByte’s digital asset strategy, facilitating the company’s future growth.

The KryptoByte model:

• KryptoByte will have two key assets:
  • The first will be a natural gas derived cashflow stream worth €2.5 million, which will be used to accumulate Bitcoin.
  • The second will be a contract to purchase natural gas from a stranded, onshore well in the UK at a significant discount to the prevailing market price.
• KryptoByte then intends to deploy Bitcoin mining operations at the site by co-locating power generation and Bitcoin mining rigs, creating an integrated, small-footprint operation which is inherently scalable – with the vision of replicating this throughout the UK, Europe, and globally using the company’s skill set to identify stranded energy opportunities.
• By harnessing stranded energy that cannot be fed into existing infrastructure, KryptoByte will reduce the reliance on electrical grid infrastructure for its operations. This unlocks economic, environmental, and technological value.
• This model offers enhanced value potential when compared to a pure crypto treasury model and, KryptoByte believes this is a compelling opportunity for potential shareholders.

Sachin Oza, Co-CEO of KryptoByte, said:

“We are excited to partner with Archax to benefit from their Bitcoin custody and trading offerings and to present the unique story of KryptoByte to its clients. Our model fundamentally differentiates us from our peers; through the purchase of natural gas from stranded assets at a significant discount to market prices, we are able to mine and accumulate Bitcoin at inherently competitive costs.

“This partnership is the first step in our wider mission to create a pilot scheme in the northeast of England that delivers this proof of concept and facilitates a roll out across further sites in the UK and Europe, with the ambition to support the growth of digital infrastructure, such as data centres, globally.”

William Samkin, Head of OTC Trading at Archax, added:

“We are delighted to be partnering with KryptoByte on their innovative use of stranded, natural gas energy and cashflow assets to fuel crypto mining and treasury operations. It is a novel and clever way of providing investors exposure not only to holding, but the mining of BTC by capitalising on real-world inefficiencies. Archax is pleased to have been selected as the crypto custodian and OTC partner of choice for this exciting initiative.”

For more information about KryptoByte please follow the link here to our corporate presentation.

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