{"id":22580,"date":"2018-02-19T18:21:23","date_gmt":"2018-02-19T18:21:23","guid":{"rendered":"http:\/\/ci027cfe65d0082697"},"modified":"2018-02-19T18:21:23","modified_gmt":"2018-02-19T18:21:23","slug":"hashchain-technology-acquires-blockchain-company-node40","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/hashchain-technology-acquires-blockchain-company-node40","title":{"rendered":"HashChain Technology Acquires Blockchain Company NODE40"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><figure><img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/hashchain-technology-acquires-blockchain-company-node40.jpg\" title=\"\"><\/figure>\n<p><a href=\"http:\/\/hashchain.ca\/\" target=\"_blank\" rel=\"noopener\">HashChain Technology Inc.<\/a> (HashChain) has acquired the blockchain technology company <a href=\"https:\/\/www.node40.com\/\" target=\"_blank\" rel=\"noopener\">NODE40<\/a> for $8 million USD and 3,144,134 common shares of stock in HashChain (TSXV: KASH) (OTCQB: HSSHF).<\/p>\n<p>HashChain is a Canadian-based crypto-mining company that currently operates 100 <a href=\"https:\/\/www.dash.org\/\" target=\"_blank\" rel=\"noopener\">Dash<\/a> mining rigs and is in the process of setting up nearly 4,000 more to mine bitcoin. By locating in Canada, they are able to take advantage of both the very <a href=\"https:\/\/bitcoinmagazine.com\/articles\/energy-company-hydro-quebec-looks-attract-bitcoin-miners\">low<\/a> electrical rates for power and the cool climate for data center cooling. <\/p>\n<p>Having recently gone <a href=\"https:\/\/bitcoinmagazine.com\/articles\/canadian-tsx-venture-exchange-approves-crypto-mining-company-hashchain-launch-monday\">public<\/a> on the TSX Venture Exchange, the company was looking to diversify their business beyond crypto-mining and have now acquired NODE40, a company that develops Software as a Service (SaaS) products related to cryptocurrency.<\/p>\n<p>HashChain CEO and Founder Patrick Gray said, \u201cThe acquisition of the NODE40 Business is an important next step of creating a global blockchain technology company.&#8221; <\/p>\n<p>On the hardware and mining side, NODE40 runs a managed service for running your own Dash masternode. Masternodes get paid 45 percent of the monthly block reward as incentive for providing services to the network. <\/p>\n<p>On the software side, NODE40 provides the SaaS product NODE40 Balance (Balance), which determines accurate valuations for each input\/output involved in a user\u2019s transaction by using cryptocurrency transaction history and analyzing the blockchain. Once a value is assigned to each transaction, then Balance will report the users\u2019 current total asset value, income and any realized gains or loses.<\/p>\n<p>&#8220;Cryptocurrency accounting and reporting for tax purposes is a major concern in the industry at the moment,\u201d said Gray. \u201cThe recent Coinbase subpoena from the IRS highlights the significant need for the software developed by NODE40.&#8221;<\/p>\n<p>The acquisition was finalized on February 15, 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HashChain Technology Inc. (HashChain) has acquired the blockchain technology company NODE40 for $8 million USD and 3,144,134 common shares of stock in HashChain (TSXV: KASH) (OTCQB: HSSHF). HashChain is a Canadian-based crypto-mining company that currently operates 100 Dash mining rigs and is in the process of setting up nearly 4,000 more to mine bitcoin. By [&hellip;]<\/p>\n","protected":false},"author":3496,"featured_media":22581,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1528,3413,124,235],"class_list":["post-22580","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-canada","tag-dash","tag-nodes","tag-taxes"],"author_data":{"id":3496,"name":"Shawn Gordon","nicename":"shawn-gordon","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/shawn-gordon-promo-image-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/hashchain-technology-acquires-blockchain-company-node40.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/22580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3496"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=22580"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/22580\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/22581"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=22580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=22580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=22580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}