Green Crypto Mining for Ethereum and Bitcoin Using O-Power

Rhea-AI Summary

Axis Technologies Group, Inc. (OTC:AXTG) has announced a strategic partnership with O-Power LLC to create the world's first zero-emissions cryptocurrency via advanced power generation technology. The O-Power generators provide constant electricity at a low cost of 1.5¢ per kilowatt without utilizing traditional renewable sources. This innovation aims to alleviate environmental concerns associated with cryptocurrency mining. A proof of concept project is planned for Southern California, expected to be completed in Q3 2021.

Positive

• Partnership with O-Power to develop zero-emissions cryptocurrency.
• Generators provide constant electricity at only 1.5¢ per kilowatt.
• Potential to eliminate environmental concerns regarding cryptocurrency mining.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / August 10, 2021 / Axis Technologies Group, Inc. (OTC:AXTG) ('AXTG' or the 'Company') has announced a groundbreaking strategic partnership with O-Power LLC to provide the world's first truly 'green' cryptocurrency. The envisaged system will be capable of producing any desired cryptocurrency using crypto-mining computers and peripherals that are powered verifiably by electricity produced by O-Power's patented 100% zero-emissions electricity generators that offer scalable, portable, constant (24/7/365) power production that does not use solar, geothermal, hydroelectric or wind-turbine technologies to produce electrical power.

The generators produce no toxic waste and they can be deployed in any environment regardless of climate, weather, seasonal conditions, proximity to bodies of water, or the availability of wind or sunshine, to produce constant electricity that is beyond 'eco-friendly' for as little as 1.5¢ per kilowatt.

About O-Power

O-Power is the California-based holder of the exclusive worldwide license to manufacture, distribute, deploy and service the units that employ this disruptive technology. Says its Executive Manager, Ryan Carter, 'As a debt-free and independent company, O-Power is free to enter relationships that make the most sense in solving urgent problems, while meeting the burgeoning demand for energy that is truly emissions-free and constant.'

O-Power recognizes the ability of this technology to enable cryptocurrency to shed its greatest stigma: that it exacerbates climate change due to the massive electricity consumption required for the mining of each new coin. Although the technology has myriad humanitarian applications (e.g. enabling remote refrigeration of vaccines, providing clean electricity for individual and mass transit, facilitating greater connectivity in the developing world), O-Power recognizes the superior economic opportunity that is presented by first applying the technology to crypto mining.

Implications

This innovative marriage of O-Power technology with standard crypto-mining equipment has the potential to impact both the production of fungible tokens (i.e. BTC, ETH, etc.) and non-fungible tokens (NFTs) by eliminating the chief impediment to the adoption of cryptocurrencies by corporations that are concerned with social responsibility. The innovations include the ability to go beyond the notion of merely cleaner, or 'green' crypto, to a more exacting level of environmental responsibility (zero-emissions crypto), at a lower cost than conventionally produced crypto.

Not only will the market be free to accept these zero-emissions cryptocurrencies, thereby allaying the environmental-impact concerns of their patrons, but this new class of cryptocurrency will possess verified blockchain-embedded proof of origin to distinguish it from conventionally produced crypto or so-called 'green' crypto (which is not zero-emissions, constant, and 100% independent of solar, wind, geothermal or any supplemental generative augmentation). And, lastly, according to Mr. Carter, 'Due to the portability, scalability and lower cost of the O-Power technology, this new class of crypto can be made available rapidly and in sufficient quantities to meet current and future global demands of retailers.'

Proof of Concept

William Tien, President of AXTG, states that 'Our Company and O-Power are advancing quickly toward the establishment of a demonstration project in Southern California in order to prove the efficacy of the technology and provide verifiable proof of the key conceptual elements of this momentous innovation.' Proof of Concept work is expected to be completed within the third quarter of 2021. Interested parties, including investors, patrons and developers, may inquire further by contacting ceo@axtg.us.

Safe Harbor Statement

This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets, and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company assumes no duty to update its forward-looking statements.

SOURCE: Axis Technologies Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/659161/Green-Crypto-Mining-for-Ethereum-and-Bitcoin-Using-O-Power

FAQ

What is the partnership between AXTG and O-Power?

AXTG has partnered with O-Power to develop the world's first zero-emissions cryptocurrency using advanced, low-cost power generation technology.

What are the cost benefits of the new cryptocurrency technology?

The O-Power generators can produce electricity for as low as 1.5¢ per kilowatt, significantly reducing operational costs for cryptocurrency mining.

When is the proof of concept for the AXTG and O-Power project expected to be completed?

The proof of concept for the project is expected to be completed in the third quarter of 2021.

How does O-Power's technology address environmental concerns in cryptocurrency mining?

O-Power's technology provides a zero-emissions solution for cryptocurrency mining, addressing climate change issues associated with traditional crypto mining.

What is AXTG's stock symbol?

The stock symbol for Axis Technologies Group is AXTG.