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Calvin Ayre shareholding in Taal confirmed at 62 percent

Calvin Ayre shareholding in Taal has been confirmed officially by the mining pool operator. Rumors already had the word that Calvin Ayre holds substantial shares in Taal, a renowned mining pool operator.

The announcement mentions that the company’s shareholdings amount to 62 percent of the total Bitcoin SV hashrate on the platform.

Recently, Taal shifted to mining Bitcoin SV from Bitcoin Cash due to the proposed charges on mining BCH. Rumors about Calvin Ayre shareholding in Taal started when an asset purchase agreement was made public that involved Taal and three firms related to Ayre.

Ca;vin Ayre is heavily invested in BSV mining pool Taal

These firms were responsible for providing Taal with 50,000 cloud computing units based out of the United States. The $4 Million deal of non-operation units was to be completed using non-voting participating shares (NVPS).

Additionally, Ayre is reported to have convertible debenture in Taal that will transform into common shares of the company in May 2020. The NVPS option will be exercised in case the amount of common shares in Taal goes below 40 percent. In such a case, the NVPS will change into common shares to maintain more than 45 percent shareholdings. Read More