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Globe and Mail
13 minutes ago
- Globe and Mail
Blockmate Launches Bitcoin Treasury Division in Line with 'Mine-and-Hold' Strategy
TORONTO, July 24, 2025 (GLOBE NEWSWIRE) -- Blockmate Ventures Inc. (TSX.V: MATE) (OTCQB: MATEF) (FSE: 8MH) ('Blockmate' or the 'Company') is pleased to announce the launch of a dedicated Bitcoin treasury division, further aligning its corporate strategy with a long-term belief in the value of Bitcoin. The division has already been established, with secure wallet infrastructure in place and an initial purchase of one Bitcoin completed. This initiative reflects Blockmate's conviction that Bitcoin will play an increasingly important role as a strategic treasury asset for companies focused on preserving value and managing risk. This development complements Blockmate's existing operations through its wholly owned subsidiary, Blockmate Mining, which is pursuing a 'mine-and-hold' strategy aimed at accumulating Bitcoin on its balance sheet as operations scale. As announced on May 27, 2025, Blockmate Mining has secured a site with electricity costs of just USD 3.3 cents per kilowatt-hour — among the most competitive rates in North America. Once fully developed, the facility is expected to support up to 200 megawatts (MW) of mining infrastructure. While Blockmate does not currently own mining hardware to fully utilize this capacity, this figure represents the long-term potential of the site. For illustrative purposes only, based on current Bitcoin prices and network difficulty, a fully utilized 200MW site could generate approximately 200 Bitcoin per month. Similarly, under current market conditions, the site could support Bitcoin mining at an estimated 40% discount to the prevailing spot price. These estimates are subject to change based on network conditions, hardware availability, electricity pricing, and the market price of Bitcoin. There is no assurance that these conditions will remain favorable or that Blockmate will be able to achieve these projections. Justin Rosenberg, CEO of Blockmate Ventures, commented: 'Holding Bitcoin on Blockmate's balance sheet provides capital growth opportunities for shareholders, as well as liquidity options should Blockmate Mining or future investees seek to take advantage of elevated Bitcoin market prices. These scenarios represent a win-win, enabling the Company to realize value through both operational success and treasury appreciation.' As the Bitcoin market continues to evolve and Blockmate Mining progresses, the Company will regularly assess further treasury purchases to enhance balance sheet agility in parallel with its mine-and-hold strategy. The price of Bitcoin is highly volatile and may decrease significantly over time. As a result, any holdings or treasury strategies involving Bitcoin are subject to market risk and could lead to financial loss. Planned Bitcoin acquisitions are currently under review and will be disclosed through the TSX Venture Exchange in due course. On July 10th, Blockmate provided an online investor update covering the strategic rationale and rollout of Blockmate Mining, which can be viewed here: About Blockmate Ventures Inc. Blockmate Ventures (TSX.V: MATE) is a Blockchain & Web3 venture builder investing in and operating scalable blockchain, mining, and digital infrastructure companies. From decentralized computing with Hivello to Blockmate Mining, the Company's portfolio provides investors with diversified exposure to emerging sectors within Web3 and beyond. To learn more, visit Blockmate welcomes investors to join the Company's mailing list for the latest updates, webinars and industry research by subscribing at ON BEHALF OF THE BOARD OF DIRECTORS Justin Rosenberg, CEO Blockmate Ventures Inc justin@ (+1-580-262-6130) Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Information This news release contains "forward-looking statements" or "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on the assumptions, expectations, estimates and projections as of the date of this news release. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Raindrop disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.
CTV News
13 minutes ago
- CTV News
Supreme Court won't hear thumbs-up emoji case involving Saskatchewan farmer
In this file photo, emojis in the Snapchat app are shown in Toronto on Monday, March 7, 2016. THE CANADIAN PRESS/Staff OTTAWA — The Supreme Court of Canada has given a thumbs-down to hearing a legal case involving an emoji. The country's highest court dismissed an application by farmer Chris Achter to appeal a decision by the Court of Appeal of Saskatchewan. The Appeal Court upheld a verdict that found a thumbs-up emoji met signature requirements and was a legally binding agreement between Achter and Kent Mickleborough, a grain buyer with South West Terminal. In 2021, Mickleborough sent a text of a contract to Achter for a delivery of flax, and the farmer responded with a thumbs-up emoji. Achter didn't deliver the product, and the company took him to court for breaching the contract. The Supreme Court says costs are to be given to the grain company. This report by The Canadian Press was first published July 24, 2025. The Canadian Press
CTV News
13 minutes ago
- CTV News
Honeywell raises 2025 forecasts on sustained demand for aerospace parts, services
This Aug. 15, 2014 photo shows the Honeywell InturVue weather radar in the cockpit of a Convair 580 plane during a flight demo over Florida. (AP Photo/Alan Diaz) Honeywell raised its annual forecasts after beating Wall Street expectations for second-quarter results on Thursday, buoyed by strong demand for its aerospace parts and maintenance services. Shares of the company rose 1.5 per cent in premarket trading. The company, which supplies avionics and flight control systems to Boeing and Airbus, has benefited from rising demand as planemakers ramp production after long delays due to supply chain issues. Honeywell has also capitalized on a shortage of new jets, providing aircraft maintenance and repair services as airlines continue to fly an older, cost-intensive fleet. The company's aerospace division, its biggest revenue generator, posted a 10.7 per cent jump in sales to US$4.31 billion in the second quarter. Honeywell now sees 2025 adjusted profit per share between US$10.45 and $10.65, up from its previous forecast of US$10.20 to US$10.50. The company also raised its revenue outlook and now expects between US$40.8 billion and US$41.3 billion for the year, up from the US$39.6 billion and US$40.5 billion it had previously forecast. The engines-to-switches conglomerate has been in the process of streamlining its portfolio under CEO Vimal Kapur, making acquisitions as well as shedding assets weighing on its business. After pressure from activist investor Elliott Management, Honeywell in February announced plans to separate its businesses. The company will spin off its aerospace business and retain the automation segment, which will be led by Kapur. Honeywell is reviewing alternatives for its productivity solutions and services unit and the warehouse and workflow solutions division, which have been a drag on the company's earnings in the past few quarters. The industrial automation unit, which houses the businesses, reported a five per cent fall in sales in the second quarter. Total sales, meanwhile, rose 8.1 per cent to US$10.35 billion, exceeding analysts' average estimate of US$10.07 billion, per data compiled by LSEG. Honeywell reported an adjusted profit of US$2.75 per share, also beating analysts' expectations of US$2.66. --- Reporting by Utkarsh Shetti in Bengaluru; Editing by Shinjini Ganguli
