Read the story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

Codebase Ventures is in the business of Bitcoin while also funding tech innovation and cannabis

% of readers think this story is Fact. Add your two cents.

  • Venture capital company with a recent investment in Bitcoin mining infrastructure
  • Has invested in companies such as blockchain company Arcology and ICO Ranker
  • Subsidiary Code Cannabis Investments focused on the expanding CBD market in North America and Europe

What Codebase Ventures does:

Codebase Ventures Inc (CSE:CODE) (OTCMKTS:BKLLF) is a tech-centric investment firm. The venture capital company invests in early-stage technology and cannabis companies and is made up of a team of financial and technology experts. 

The Vancouver-based company aims to take stakes in fledgling companies with a focus on investing in those with “outstanding talent, teams and technology,” according to the firm’s website. 

Codebase has a number of companies within its portfolio including stakes in the blockchain company Arcology, as well as investments in ICO Ranker, the standard for reviews and analysis of token sales, and Blockchain Ranker, a business-to-business directory of blockchain software, service providers and platforms.

Arcology, in which Codebase owns a 30% stake, runs a hierarchical blockchain that uses proprietary algorithms and artificial intelligence to eliminate inefficiencies that hinder rival blockchain platforms. ICO Ranker is a collaborative platform for the rating of ICOs and blockchain projects. 

The company also targets early-stage assets and startups in the emerging and promising cannabis sector through its subsidiary, Code Cannabis Investments. For now, the company is focused on the expanding market for CBD products in North America and Europe.

London-listed World High Life PLC is the crown jewel of Code Cannabis’s portfolio. World High Life is focused on backing or acquiring companies operating in the CBD wellness and medicinal cannabis industry and its wholly-owned subsidiary, Love Hemp, is a leading CBD supplier in the UK.

Codebase Ventures is led by CEO George Tsafalas, an entrepreneur who has extensive experience in senior operational management, corporate business development and corporate finance in the private and public sectors. He is currently a senior partner at Stadnyk and Partners Inc, specializing in the execution of strategic budget plans and monitors the development of the portfolio programs. 

How is it doing:

In mid-March, 2021, Codebase Ventures announced that its Bitcoin mining machines, the first tranche of 115 state-of-the-art Canaan A1246 miners, are currently being prepped for immediate release to its hosting facility in upstate New York and are expected to be delivered and operational in the coming weeks.

The company agreed to pay $2.5 million to acquire the bit mining infrastructure in the US for long-term revenue generation. 

Earlier in the same month, the company revealed that it had engaged seasoned investor and entrepreneur Jacob Chernoff in order to maximize results for the company’s Bitcoin mining operations and ongoing blockchain investments.

Codebase noted that Chernoff has worked with a number of public companies over past six years, evaluating and revising blockchain-based business proposals, raising seed capital, and deconstructing complex technical aspects of blockchain and cryptography into an easily-digestible format.

As well, Codebase said its investee company Arcology has optimized its version of the CrytpoKitties blockchain platform. Arcology considers CryptoKitties, which allows users to collect and breed digital cats, to be the “most popular game on the Ethereum blockchain.” It noted that when the game debuted in 2017, its popularity congested the Ethereum network to the point that noticeable shutdowns hurt the performance of other apps. 

Arcology also recently revealed the successful deployment of version 2.0 of its Testnet system. Codebase said Testnet 2.0 also includes the unveiling of Ammolite 1.0, Arcology’s custom-built Python application programming interface (API), which allows developers to query blockchain data from browser, built wallet, and other applications.

The company noted that since its launch in 2020, Testnet has “consistently achieved very high results” with more than 33,000 transactions per second (TPS) running decentralized applications written in Solidity, a programming language most famous for being the basis for Ethereum’s smart contracts.

Inflection points:

  • Revenue from Bitcoin mining infrastructure
  • Growing sales of Love Hemp, LH Botanicals and other World High Life products
  • Increasing portfolio of companies through further investments

What the boss says:

Commenting on the company’s entrance into the Bitcoin mining space, Codebase CEO George Tsafalas told shareholders: “The level of acceptance indicated by this first big US bank (Morgan Stanley) to enable ownership of Bitcoin broadens the opportunities and applications for cryptocurrencies, aligning with Code’s efforts in establishing Bitcoin mining infrastructure for the long-term.”

Contact Sean at [email protected]

Story by ProactiveInvestors


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Load more ...




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.