$SWRM TulsaLabs to Launch Bitcoin Mining Operation
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Posted On: 10/25/2021 2:54:12 PM
$SWRM TulsaLabs to Launch Bitcoin Mining Operations, Expand Blockchain Nodes
https://www.globenewswire.com/news-release/20...Nodes.html
Tulsa, OK, Oct. 25, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- AppSwarm, Corp. (OTC: SWRM), a software development company and aggregator of mobile applications, announces plans to launch cryptocurrency mining operations through TulsaLabs.
AppSwarm, through its blockchain advisor Data Syndicate, will work on developing out an initial cryptocurrency mining operation for Bitcoin, Litecoin, and Dogecoin.
Phase One: Rig Miners
The Company will look to immediately purchase and deploy ASIC miner rigs that are made for the purpose of mining Bitcoin, Litecoin, and Dogecoin.
Dogecoin and Litecoin use a hashing algorithm called Scrypt, which is less complex than SHA-256. This makes mining Litecoin and Dogecoin much faster and less energy-intensive than Bitcoin.
Phase Two: Co-Location Mining Pools
The Company will then look to expand its mining operations by purchasing and hosting additional rigs at co-location facilities within the region and participate in mining pool operations.
DogeLabs will explore launching its own Dogecoin mining pool, which would be a network of individual miners who mine the cryptocurrency as a single entity, or node, by merging their computing power.
The rewards would then be distributed among pool participants proportionally by the amount of computer power committed by each miner.
Phase Three: Mining Facilities
The Company will also explore developing its own co-location mining facility that utilizes renewable energy sources, with power back-up, and AC cooling in the Tulsa, Oklahoma region.
In its final stage, the Company will explore partnerships with natural gas and solar operators in the Oklahoma region interested in collaborating on providing energy to power a larger scale mining facility in the region.
ESG Review
The Company will establish an Environmental, Social, and Corporate Governance (ESG) review of mining operations to adhere to its commitment to technology for the betterment of mankind, and the environment.
We will explore mining options such as projects that require lower kilowatt-hour demand and the use of renewable energy to offset the carbon footprint of operations.
Blockchain Nodes
The Company is pleased to announce it has deployed its Dogecoin Full Node, which helps the network by accepting transactions and blocks from other full nodes, validating those transactions and blocks, and then relaying them to further full nodes.
Along with the Dogecoin node, we are also exploring launching nodes for other main networks such as Polygon, IOTA, and Fantom.
A more detailed roadmap and timeline of our crypto mining operations will be released shortly.
https://www.globenewswire.com/news-release/20...Nodes.html
Tulsa, OK, Oct. 25, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- AppSwarm, Corp. (OTC: SWRM), a software development company and aggregator of mobile applications, announces plans to launch cryptocurrency mining operations through TulsaLabs.
AppSwarm, through its blockchain advisor Data Syndicate, will work on developing out an initial cryptocurrency mining operation for Bitcoin, Litecoin, and Dogecoin.
Phase One: Rig Miners
The Company will look to immediately purchase and deploy ASIC miner rigs that are made for the purpose of mining Bitcoin, Litecoin, and Dogecoin.
Dogecoin and Litecoin use a hashing algorithm called Scrypt, which is less complex than SHA-256. This makes mining Litecoin and Dogecoin much faster and less energy-intensive than Bitcoin.
Phase Two: Co-Location Mining Pools
The Company will then look to expand its mining operations by purchasing and hosting additional rigs at co-location facilities within the region and participate in mining pool operations.
DogeLabs will explore launching its own Dogecoin mining pool, which would be a network of individual miners who mine the cryptocurrency as a single entity, or node, by merging their computing power.
The rewards would then be distributed among pool participants proportionally by the amount of computer power committed by each miner.
Phase Three: Mining Facilities
The Company will also explore developing its own co-location mining facility that utilizes renewable energy sources, with power back-up, and AC cooling in the Tulsa, Oklahoma region.
In its final stage, the Company will explore partnerships with natural gas and solar operators in the Oklahoma region interested in collaborating on providing energy to power a larger scale mining facility in the region.
ESG Review
The Company will establish an Environmental, Social, and Corporate Governance (ESG) review of mining operations to adhere to its commitment to technology for the betterment of mankind, and the environment.
We will explore mining options such as projects that require lower kilowatt-hour demand and the use of renewable energy to offset the carbon footprint of operations.
Blockchain Nodes
The Company is pleased to announce it has deployed its Dogecoin Full Node, which helps the network by accepting transactions and blocks from other full nodes, validating those transactions and blocks, and then relaying them to further full nodes.
Along with the Dogecoin node, we are also exploring launching nodes for other main networks such as Polygon, IOTA, and Fantom.
A more detailed roadmap and timeline of our crypto mining operations will be released shortly.
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