Graphene 3D Lab Announces an Invention in Blockchain and Cryptocurrency Mining Space and Files for IP Protection
23 February 2018 - 1:30AM
InvestorsHub NewsWire
|
Graphene 3D Lab Announces an Invention in
Blockchain and Cryptocurrency Mining Space and Files for IP
Protection
|
Calverton, NY -- February 22, 2018 --
InvestorsHub NewsWire -- Graphene 3D Lab Inc. (TSX-V:GGG)(OTCQB:GPHBF)(the
“Company” or “Graphene”) today announced that it has filed a patent
application entitled “Method and System for Recovering and
Utilizing Heat Energy Produced by Computer Hardware in Blockchain
Mining Operations” with United States Patent and Trademark Office.
The invention introduces a revolutionary new technology for
recuperating the thermal energy produced in the computation and
Blockchain mining operations, utilizing recovered thermal
energy in heating and/or refrigeration modules using graphene.
The invention addresses an overwhelming need for more efficient
energy management in data centers and computational facilities in
cryptocurrency mining and other industries. Bitcoin’s recent
astronomical rise is driving an extraordinary surge in energy usage
by centers dedicated to mining cryptocurrencies. According to
Bloomberg Technology, electricity required to mine Bitcoin has
risen 43% since October 2017. This not only creates a unique
challenge, but also a significant opportunity.
Summary of Invention : In the method invented by Company, the
thermal energy generated by the computational hardware is harvested
and converted into heating and/or refrigeration solutions with
modules using graphene. These solutions can be utilized for air
conditioning or food preservation, thus effectively reducing
electric energy consumption while supporting the Blockchain network
or cryptocurrency mining. Alternately, the harvested thermal
enegery can also be reused for heating homes, swimming pools or
green houses. Usage of high performance materials such as graphene
is intended to significantly improve efficiency of operation of
such systems. This technology is versatile and is designed to work
with various computing equipment used for cryptocurrency mining
including CPUs, GPUs and ASICs. Graphene-enhanced materials help to
boost performance of such systems giving the Company the
competitive edge.
Our Innovative Hardware Solutions for Blockchain-based Crypto
Currency mining : We expect our systems will be able to redirect
energy generated by data processing, that is routinely wasted, to
other commercial and residential uses including business facility
heating/cooling, agriculture, food processing. Employment of our
systems is not only expected to increase return on investment for
data center operations, but also reduce the environmental footprint
of data processing.
“We are continuously looking for transformative opportunities for
our Company and we strongly believe we found one in the
cryptocurrency space.” said Elena Polyakova, CEO of Graphene 3D
Labs. “The Company intends to seek potential commercialization
partners for this technology.”
Blockchain Technology and Cryptocurrency Mining : The Blockchain is
a groundbreaking concept that employs decentralized and encrypted
ledger. This technology offers a secure, efficient, and certifiable
pathway of keeping records and all other relevant information
without the need for intermediaries. The Blockchain technology is
the building block of numerous digital currencies, including
Bitcoin, Ethereum, ZCash and Litecoin. Mining is a process by which
new crypto coins are created and transactions performed in the
crypto currency space are verified and requires extensive
computational work .
The Blockchain is a fast-emerging technology that much more than
just its association with cryptocurrency. The Blockchain protocols
have a wide range of use, including processing transactions,
accounting, and verification across a far-reaching spectrum of
applications including recording medical transactions, verification
of legal contracts as well as improving security of “Internet of
Things” .
Energy Management in Crypto Currency Mining : Blockchain technology
and cryptocurrency mining operations heavily rely on computational
power which consumes an enormous amount of electric power. This in
turn generates substantial amount of heat. This immense amount of
energy, and its cost, is a critical element impacting the
profitability of mining facilities. A vast majority of large-scale
mining facilities use hardware based on Application-Specific
Integrated Circuit Chips (ASICs) and Graphic Processing Units
(GPUs). Most commercial ASIC miners use 1-3 kW/h each, and a mining
facility can host up to several thousand units.
About Graphene 3D Lab, Inc.
Graphene 3D Lab, Inc. is capitalizing on groundbreaking properties
of graphene and other advanced materials. The company is offering
high-tech solutions in several areas including:
Blockchain and Cryptocurrency Mining : The Company is developing
innovative hardware for harvesting the heat generated by the
cryptocurrency mining computational hardware and converting it into
heating and/or refrigeration solutions.
R&D Materials : These diverse materials have a wide spectrum of
commercial, research, and military applications. The Company’s
wholly-owned subsidiary, Graphene Laboratories Inc., currently
offers over 100 graphene and related products to a client list
comprised of more than 14,000 customers worldwide, including nearly
every Fortune 500 tech company and major research university. Some
notable clients are: NASA, Ford Motor Co., GE, Apple, Xerox,
Samsung, Harvard University, IBM, and Stanford University. The
Company’s suite of p roducts is available online at the company’s
e-commerce platform Graphene Supermarket (www.graphene-supermarket.com).
3D Printing : The 3D printing division of the Company offers a
portfolio of 3D printable filaments. These materials can be
purchased through multiple distribution networks worldwide or
directly from the web-store www.blackmagic3D.com .
High Performance Epoxies: Adhesive materials produced by the
company are distributed under G6-Epoxy TM trade name and can be
purchased at https://g6-epoxy.com/ .
The Graphene 3D facility is located in Calverton, NY and is
equipped with material processing and analytical equipment. The
company has eight US patent applications pending for its
technology. For more information on Graphene 3D Lab Inc.,
visit www.graphene3dlab.com.
ON BEHALF OF THE BOARD
Daniel Stolyarov, President & Co-CEO
For More Information :
Daniel Stolyarov
Co-Chief Executive Officer
Telephone: (631) 405-5116
Email: daniel.stolyarov@graphene3Dlab.com
Ranjini Chakravorty
Investor Relations
Telephone: 647-323-3361
Email: ranjini.chakravorty@graphene3Dlab.com
FORWARD LOOKING INFORMATION
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE
REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS
PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH
DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON
FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT
TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY
PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE
LAWS.
Neither 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. |
Click here to visit the Graphene 3D Lab
Inc. website |
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