Creek Road Miners Announces Plans for a Second Facilty and Revenue Projections

Rhea-AI Summary

Creek Road Miners (OTCQB: CRKR) announced the acquisition of a second mobile data center for bitcoin mining, enhancing its capacity to 27 Petahash per second (Ph/s). This facility will increase the total mining capacity to 51 Ph/s with 520 Antminer S19j Pro miners. The company is focused on a growth strategy based on vertical, energy, geographic, cryptocurrency, and revenue diversification. Its first modular facility is operational in Louisiana, and efforts are underway to expand geographically.

Positive

• Acquisition of second mobile data center expected to increase mining capacity to 51 Ph/s.
• Company's strategy emphasizes vertical integration and diversification in energy, geography, cryptocurrency, and revenue.

Negative

• None.

PARK CITY, Utah--(BUSINESS WIRE)-- Creek Road Miners, Inc. (OTCQB:CRKR) (“Creek Road Miners,” or “Company”), with a first-of-its-kind mobile bitcoin mining operation, today announces the acquisition of its second, larger mobile data center with an anticipated mining capacity of 27 Petahash per second (Ph/s). Once fully operational, the combined modular units are projected to house 520 Antminer S19j Pro cryptocurrency miners, with a total capacity of 51 Ph/s.

Creek Road Miners has developed and deployed a strategy that will serve as a bedrock for the Company’s aggressive growth plans. The five cornerstones of this strategy are: 1) Vertical Integration; 2) Energy Diversification; 3) Geographic Diversification; 4) Cryptocurrency Diversification; and 5) Revenue Diversification.

The first modular facility is currently operational on a self-contained barge in the bayous of Louisiana and mining Bitcoin at commercial scale. Creek Road Miners is in the process of securing another geographical location to deploy its second facility, in furtherance of the Company’s cornerstone strategy.

“With the launch of our inaugural facility in Louisiana, we are now pivoting our resources to scaling our operations at an accelerated pace,” commented Mr. Scott D. Kaufman, Chairman and Chief Executive Officer of Creek Road Miners. Mr. Kaufman added, “We are now focused on lining up the many pieces needed to move forward in deploying the Company’s strategy.”

Please visit the company’s website CreekRoadMiners.com for more information and updates.

About Creek Road Miners, Inc. (OTCQB: CRKR)

Creek Road Miners, Inc. (www.creekroadminers.com) utilizes mobile power generation units and mining facilities to overcome the economic barriers to utilizing the abundance of stranded natural gas in the U.S. market, while acquiring energy suppliers to create multiple revenue streams.

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Forward-Looking Statements:

This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211103005729/en/

Investor Relations and Media Contact:

Scott A. Sheikh

Creek Road Miners, Inc.

IR@creekroadminers.com

Source: Creek Road Miners, Inc.

FAQ

What is the capacity of Creek Road Miners' new mobile data center?

The new mobile data center will have an anticipated capacity of 27 Petahash per second (Ph/s).

How many miners will Creek Road Miners operate?

The facility will house 520 Antminer S19j Pro cryptocurrency miners.

What is Creek Road Miners’ stock symbol?

Creek Road Miners is traded under the stock symbol OTCQB: CRKR.

Where is the first mobile mining facility located?

The first modular facility is operational in Louisiana.

What are the five cornerstones of Creek Road Miners' growth strategy?

The five cornerstones are Vertical Integration, Energy Diversification, Geographic Diversification, Cryptocurrency Diversification, and Revenue Diversification.