Blockchain Power Trust is pleased to announce that it is changing its name from “Blockchain Power Trust” to “Jade Power Trust” (“Jade Power” or the “Trust”). The Trust’s Units and Unit Purchase Warrants expiring January 8, 2020 will trade under the new ticker symbols of JPWR.UN and JPWR.WT, respectively, effective October 4, 2019. Management believes that the new name is better aligned with the Trust’s continued focus on renewable energy production.
The Trust ceased cryptocurrency mining operations effective October 1, 2018 and has no plans to resume activity in this segment. Re-starting operations would require substantial ongoing capital investment to remain competitive and would not have a predictable operating margin associated to it. Conversely, management believes that the fundamentals of the renewable energy sector in Romania and the EU generally continue to trend very favorably to the benefit of the Trust and its unitholders.
Colter Eadie, Chief Executive Officer of newly announced Jade Power Trust, commented “We believe that the name Jade Power is better aligned with our core business and strategy. We continue to focus on our renewable asset portfolio and are very pleased by the continued, consistent and on-target performance of our assets to date.”