|February 21, 2018|
Graphene 3D Lab Announces an Invention in Blockchain and Cryptocurrency Mining Space and Files for IP Protection
|Calverton, NY - Graphene 3D Lab Inc. (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 the United States Patent and Trademark Office. The invention introduces a revolutionary new technology for recuperating the thermal energy produced in the computation and Blockchain operation, utilizing that 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, the 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 heat can also be reused for heating homes, swimming pools or greenhouses. Usage of high-performance materials such as graphene is intended to significantly improve the 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 the 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 cryptocurrency 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 the 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 a 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 products 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 BlackMagic3D.com .
High Performance Epoxies: Adhesive materials produced by the company are distributed under G6-EpoxyTM trade name and can be purchased at 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:
Co-Chief Executive Officer
Telephone: (631) 405-5116
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.
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