Blackcloud Crypto Investments receives C$24M investment commitment from SPIRIT Blockchain Technologies

Lead Office



24.00 Million CAD

On March 6, 2018, SPIRIT Blockchain Technologies Ltd. ("Spirit") and Blackcloud Crypto Investments Inc. ("Blackcloud") announced that they entered into a Letter of Intent for Spirit to lead Blackcloud's ongoing financing with an investment of C$24 million into Blackcloud to support the development of Blackcloud's Canadian crypto mining operations.

SPIRIT Blockchain is a company that bridges blockchain technologies and digital-assets to traditional capital markets. The strategy is to be a global operator through joint venture arrangements with key infrastructure companies and also a strategic investor in the blockchain ecosystem with specific focus on the Bitcoin, Ethereum and Altcoin blockchains.

Blackcloud is a Canadian-based cryptomining venture that is building a leading cryptomining operation utilizing the technical expertise of its management team gained in the aerospace and data centre industries.

McCarthy Tétrault LLP advised Blackcloud with a team led by Wilson Acton that included Jeremy Busch-Howell (Business Law) and Robert Nearing (Tax).