$ISWH ISW Holdings Officially Launches Live Mining
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Posted On: 02/22/2022 9:28:02 AM
$ISWH ISW Holdings Officially Launches Live Mining Operations for its 200MW Southeastern US Bitcoin Mining and Hosting Project
https://www.globenewswire.com/news-release/20...oject.html
HOUSTON, TEXAS, Feb. 22, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a Texas-based portfolio company with primary commercial-stage operations in Cryptocurrency Mining, is pleased to update current and prospective shareholders as the Company begins live mining and hosting operations for its 200-megawatt (“MW”) Bitcoin mining and hosting project.
In partnership with Bit5ive, LLC (“Bit5ive”), and Bitmain Technologies Ltd. (“BITMAIN”), the company has already powered up the first eight (
POD5 units at the site. Each POD5 unit contains 280 mining rigs now actively mining Bitcoin.
“This is a tremendous day for ISW Holdings and our shareholders,” stated Alonzo Pierce, President and Chair of ISW Holdings. “After months of hard work, and after overcoming a series of obstacles related to the unpredictable global macroeconomic context, we are very proud to announce that the Company is now officially hosting client mining services and mining Bitcoin at scale in our 200MW mining and hosting project.”
Once fully completed, at current energy price spreads and agreements, this first 20MW Phase is expected to generate nearly $9 million in annualized revenues for the Company. Management expects to begin building out phases 2 thru 10 starting in April, targeting 200MW of power across 200 POD5 units, each driving 280 state-of-the-art mining rigs, by January 2023.
Pierce added, “We are now in the process of deploying the first 20MW Phase 1 buildout. We will continue to energize the entire Phase 1 project over the next couple of weeks and then swiftly move on to Phase 2.”
https://www.globenewswire.com/news-release/20...oject.html
HOUSTON, TEXAS, Feb. 22, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a Texas-based portfolio company with primary commercial-stage operations in Cryptocurrency Mining, is pleased to update current and prospective shareholders as the Company begins live mining and hosting operations for its 200-megawatt (“MW”) Bitcoin mining and hosting project.
In partnership with Bit5ive, LLC (“Bit5ive”), and Bitmain Technologies Ltd. (“BITMAIN”), the company has already powered up the first eight (
POD5 units at the site. Each POD5 unit contains 280 mining rigs now actively mining Bitcoin. “This is a tremendous day for ISW Holdings and our shareholders,” stated Alonzo Pierce, President and Chair of ISW Holdings. “After months of hard work, and after overcoming a series of obstacles related to the unpredictable global macroeconomic context, we are very proud to announce that the Company is now officially hosting client mining services and mining Bitcoin at scale in our 200MW mining and hosting project.”
Once fully completed, at current energy price spreads and agreements, this first 20MW Phase is expected to generate nearly $9 million in annualized revenues for the Company. Management expects to begin building out phases 2 thru 10 starting in April, targeting 200MW of power across 200 POD5 units, each driving 280 state-of-the-art mining rigs, by January 2023.
Pierce added, “We are now in the process of deploying the first 20MW Phase 1 buildout. We will continue to energize the entire Phase 1 project over the next couple of weeks and then swiftly move on to Phase 2.”
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