On April 16, 2018, Blockchain Mining Ltd. (“Blockchain”) announced that it had completed its transaction with Backbone Hosting Solutions Inc. (“Bitfarms”) whereby Blockchain acquired 60.7% of the issued and outstanding shares of Bitfarms in exchange for 23,124,861 common shares of Blockchain, and the right to acquire 17,335,090 shares of Blockchain (the “Transaction”).

Blockchain, through its Transaction with Bitfarms owns and operate blockchain farms that power the global decentralized financial economy. Providing 24/7 computing power to a wide range of cryptocurrency networks.

Peterson McVicar acted for Blockchain Mining Ltd. with a team that included Dennis Peterson, Andrey Shamis, Peter Georgas and Jonathan Clark.