Feb 8 (Reuters) - Valencia Ventures Inc VVIh.V :
* VALENCIA PROVIDES UPDATE ON EARTHRENEW ACQUISITION
* SAYS CONTINUES TO WORK WITH PRINCIPALS OF EARTHRENEW TO REACTIVATE EARTHRENEW BUSINESS, PROGRESS REVERSE TAKEOVER TRANSACTION
* SAYS EARTHRENEW HAS INITIATED ENGINEERING WORK TO RESTART SUSTAINABLE ELECTRICITY PRODUCTION AT ITS STRATHMORE, ALBERTA PLANT
* SAYS EARTHRENEW EVALUATING ELECTRICITY DISTRIBUTION OPTIONS INCLUDING ESTABLISHING CRYPTOCURRENCY MINING OPERATION AT STRATHMORE
* SAYS EARTHRENEW IS CURRENTLY EVALUATING HARDWARE OPTIONS TO MINE CRYPTOCURRENCIES TO DETERMINE OPTIMAL MIX OF MINING RIGS, CURRENCIES