Neptune Dash Commences Incubation of Neptune Stake and Intends to Spin Out First Proof-of-Stake Mining Company
Summary
Proof-of-work protocol requires miners to solve extremely complex and computationally intense mathematical problems in order to add blocks onto the blockchains.In other words, instead of utilizing energy to generate proof-of-work data, a proof-of-stake miner is mining a percentage of transactions that is reflective of its ownership stake.“While the Company did not originally plan to invest in mining, the establishment of our subsidiary to study these opportunities was the result of blockchain developments that we could not ignore.Neptune believes this proposed transaction would build shareholder value by offering investors direct leverage to cryptocurrency prices within a diversified operational company.Forward-looking information includes, but is not limited to the viability of proof-of-stake mining, commencing the mining of Ethereum, EOS and Cardano, that Ethereum, EOS and Cardano will proceed with protocol implementations that include proof-of-stake mining the spin-out of Neptune Stake, shareholder, court and regulatory approval for any spin-out of Neptune Stake; the Companys projected asset allocations; business strategy and investment criteria; corporate governance standards applicable to cryptocurrencies; the rate of cryptocurrency adoption and the resultant effect on the growth of the global cryptocurrency market capitalization.