NetworkNewsBreaks – ISW Holdings Inc. (ISWH) Out
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Posted On: 09/07/2021 3:39:27 PM
NetworkNewsBreaks – ISW Holdings Inc. (ISWH) Outlines Details of Partnership Agreement with Bitmain, Bit5ive
ISW Holdings (OTC: ISWH), a Nevada-based portfolio company with primary commercial-stage operations in cryptocurrency mining that is in the process of changing its name to BlockQuarry, has released additional information regarding its landmark agreement with Bitmain Technologies. Bitmain is the world’s leading producer of cryptocurrency mining hardware and a leading global cryptocurrency mining firm. The partnership between ISWH and Bitmain involves 56,000 Bitmain mining rigs pairing with 200 megawatts (“MW”) of power at ISWH’s Georgia location, which has been dubbed POD-CITY. According to the announcement, the Company anticipates having the first 20 MW of power paired with rigs and running by next month, with all 56,000 miners hooked up to all 200 MW of power and fully running by October 2022. According to company estimates, the full complement running at full capacity could result in more than $100 million in hosting service fees. In addition to partnering with Bitmain, the agreement also involves Bit5ive LLC. Bitmain brings mining machines, capital and expertise into the table while Bit5ive adds power, hosting services, project management services and expertise. For its part, ISW Holdings will contribute funding, expertise, hosting services, mining services, access to power and access to public market investors. “The nature of our business changed significantly last summer when we partnered with Bit5ive and began designing state-of-the-art mining pods with a bold vision and a deep conviction in the value proposition of the cryptocurrency marketplace,” said ISWH president and chair Alonzo Pierce in the press release. “Now, just a bit over a year later, we are on the verge of becoming one of the top players in the cryptocurrency world after bringing Bitmain to the table in a deal that will see all parties unlock significant value. Looking ahead, our hosting service revenues will be stable and substantial, and capable of strong growth. And our mining revenues will fluctuate with prices in the cryptocurrency space. That will give us a strong foundation and enormous growth with a significant non-volatile component. This should put us in position to meet requirements to migrate shares to a major national listed exchange in due course. We have a number of additional catalysts in the works as well, and I look forward to providing more insights in the very near future.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
ISW Holdings (OTC: ISWH), a Nevada-based portfolio company with primary commercial-stage operations in cryptocurrency mining that is in the process of changing its name to BlockQuarry, has released additional information regarding its landmark agreement with Bitmain Technologies. Bitmain is the world’s leading producer of cryptocurrency mining hardware and a leading global cryptocurrency mining firm. The partnership between ISWH and Bitmain involves 56,000 Bitmain mining rigs pairing with 200 megawatts (“MW”) of power at ISWH’s Georgia location, which has been dubbed POD-CITY. According to the announcement, the Company anticipates having the first 20 MW of power paired with rigs and running by next month, with all 56,000 miners hooked up to all 200 MW of power and fully running by October 2022. According to company estimates, the full complement running at full capacity could result in more than $100 million in hosting service fees. In addition to partnering with Bitmain, the agreement also involves Bit5ive LLC. Bitmain brings mining machines, capital and expertise into the table while Bit5ive adds power, hosting services, project management services and expertise. For its part, ISW Holdings will contribute funding, expertise, hosting services, mining services, access to power and access to public market investors. “The nature of our business changed significantly last summer when we partnered with Bit5ive and began designing state-of-the-art mining pods with a bold vision and a deep conviction in the value proposition of the cryptocurrency marketplace,” said ISWH president and chair Alonzo Pierce in the press release. “Now, just a bit over a year later, we are on the verge of becoming one of the top players in the cryptocurrency world after bringing Bitmain to the table in a deal that will see all parties unlock significant value. Looking ahead, our hosting service revenues will be stable and substantial, and capable of strong growth. And our mining revenues will fluctuate with prices in the cryptocurrency space. That will give us a strong foundation and enormous growth with a significant non-volatile component. This should put us in position to meet requirements to migrate shares to a major national listed exchange in due course. We have a number of additional catalysts in the works as well, and I look forward to providing more insights in the very near future.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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