Creek Road Miners Launches Its First Production Facility

Rhea-AI Summary

Creek Road Miners, Inc. (OTCQB:CRKR) announces the operational launch of its first production facility in Meeker, Colorado, equipped with 240 Bitmain Antminers capable of producing 24 petahashes per second (PH/s) at a cost of $0.0455/kWh. The Company plans to open a second facility in Rangely, Colorado, housing 270 Antminers for an estimated 27 PH/s, effectively doubling its hashing power. This strategic expansion aims to leverage stranded natural gas for economically viable mining operations, enhancing profitability and operational efficiency.

Positive

• First production facility in Meeker, Colorado, now operational.
• 240 Antminers generating 24 PH/s at a competitive energy cost of $0.0455/kWh.
• Second facility planned in Rangely, Colorado, with 270 Antminers for additional 27 PH/s, doubling current hashing power.
• Utilization of stranded natural gas supports cost-effective mining operations.

Negative

• None.

Company Website: CreekRoadMiners.com

PARK CITY, Utah--(BUSINESS WIRE)-- Creek Road Miners, Inc. (OTCQB:CRKR) (“Creek Road Miners,” or, “Company”) is pleased to announce that its first production facility in Meeker, Colorado is now fully operational. This facility houses 240 Bitmain Antminers capable of generating approximately 24 petahashes per second (PH/s) of mining capacity at a cost of approximately $.0455/kWh for electricity.

With the successful deployment of the Meeker facility, Creek Road Miners has decided to deploy its second facility in Rangely, Colorado. Rangely will operate on the same economic terms as Meeker but will house 270 Bitmain Antminers generating approximately 27 PH/s of mining capacity.

“With the deployment of this second facility, Creek Road Miners will more than double its current hashing power,” commented John D. Maatta, the Company’s Co-CEO, adding, “We’re now laser-focused deploying our next data centers.”

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

Creek Road Miners, Inc. (www.CreekRoadMiners.com) is a cryptocurrency mining company that leverages mobile power generation units and mining facilities in a manner that overcomes otherwise existing economic barriers. The Creek Road Miners model utilizes the abundance of stranded natural gas in a manner that provides its operations with a desirably priced energy source while benefiting energy operators, the consumer, and environmental considerations.

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/20220616005435/en/

Investor Relations and Media:

Scott A. Sheikh

Creek Road Miners, Inc.

IR@CreekRoadMiners.com

Source: Creek Road Miners, Inc.

FAQ

What is the operational capacity of the Meeker facility for CRKR?

The Meeker facility has 240 Antminers generating approximately 24 petahashes per second (PH/s).

When will the second facility for CRKR be operational?

The second facility in Rangely, Colorado, is planned to be operational soon after the success of the Meeker facility.

What is the energy cost for CRKR's mining operations?

The energy cost for mining operations at the Meeker facility is approximately $0.0455 per kilowatt-hour (kWh).

How does CRKR's expansion affect its hashing power?

The expansion with the second facility will more than double Creek Road Miners' current hashing power.

What type of mining equipment is used by CRKR?

Creek Road Miners utilizes Bitmain Antminers for its cryptocurrency mining operations.