Cypherpunk Holdings (CSE:HODL/OTC:KHRIF), a listed specialist in privacy-focused investments, has received 19,860 shares (Series B) in the Chia Network. This follows an earlier simple agreement for future equity deal worth US$300,000 negotiated in July 2018.
China Network is involved in the development of an energy-efficient decentralised blockchain. It was originally created by Bram Cohen, the inventor of BitTorrent. Last month the Chia Network announced the launch of its down digital currency, Chia.
“The environmental impact caused by cryptocurrencies has been at the forefront of many discussions in the industry and we believe that this is an issue that needs addressing,” said Antanas Guoga, CEO of Cypherpunk. “Chia Network uses spare storage space on hard drives to verify blockchain transactions instead of using the energy-intensive “proof of work” model employed by other cryptocurrencies, which makes Chia an exciting “green” alternative to other digital currencies.”
Cypherpunk also confirmed that it has now reached terms for a leasing arrangement for its portfolio of more than 16,000 IPv4 addresses. These were originally acquired in March. The deal will see the company lease these out under terms that should generate a 14.8% annual yield.
Cypherpunk Holdings is focused on the digital assets space
Cypherpunk Holdings owns a range of digital assets and stakes in companies in the digital privacy sector. It remains one of the largest publicly-listed holders of Bitcoin. In terms of its equity holdings, it prioritises companies that are in a position to enhance the overall privacy of the Internet or enable the further decentralisation of blockchain networks. Ideally they are early stage opportunities, run by management teams with proven track records.
Cypherpunk currently has 360 Bitcoin in its treasury and over C$6m in cash. The management team says it is in a good position to further deploy capital and continue to follow its core investment strategy.
The company represents a simpler way to access a slate of digital assets and blockchain-oriented companies via a single shareholding. Many of the companies within HODL at the moment are harder to access for the private investor.
