- iMining (IMIN) has signed a letter of intent (LOI) to purchase Ontario power plants equipped with up to 90 MW
- The plants’ low-cost capacity includes existing supply agreements with the Ontario Grid
- The acquisition is in line with iMining’s intention to become an energy-first company
- CEO Khurram Shroff sat down with The Market Herald Canada’s Sabrina Cuthbert to discuss the acquisition
- iMining invests in energy infrastructure, blockchain technology and the Web 3.0 ecosystem
- iMining Technologies (IMIN) last traded at $0.085 per share
iMining (IMIN) has signed an LOI to purchase Ontario power plants equipped with up to 90 MW.
The plants’ low-cost capacity includes existing supply agreements with the Ontario Grid.
The plants will also generate power for other purposes to further drive profitability and provide diversified revenue.
The transaction is subject to third-party valuation verification, due diligence, and regulatory approval and will be finalized upon a definitive agreement.
The acquisition is in line with iMining’s intention to become an energy-first company. The company will announce financing plans around this strategy prior to completing the acquisition.
CEO Khurram Shroff sat down with The Market Herald Canada’s Sabrina Cuthbert to discuss the acquisition.
iMining invests in energy infrastructure, blockchain technology and the Web 3.0 ecosystem. It is focused on developing sustainable energy and technology solutions for data center operations.
iMining Technologies (IMIN) last traded at $0.085 per share.
