Creek Road Miners Secures 600 ANTMINER S19 XP (140 Th/s) Cryptocurrency Miners From BITMAIN

Rhea-AI Summary

Creek Road Miners, Inc. (OTCQB:CRKR) has secured 600 ANTMINER S19 XP cryptocurrency miners from Bitmain Technologies. The S19 XP features a hash rate of 140 Th/s and a power efficiency of 21.5 j/Th, consuming 3010W of power. This acquisition aligns with the company's Five Cornerstone Strategy for operational scaling. CEO Scott D. Kaufman emphasized the importance of Bitmain’s support in achieving strategic growth. Creek Road Miners focuses on leveraging mobile power generation and mining facilities to utilize stranded natural gas for revenue generation.

Positive

• Acquisition of 600 ANTMINER S19 XP miners enhances mining capacity.
• S19 XP offers 40% more hashing power compared to previous models.
• The initiative aligns with the company's strategic growth plans.

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 the Company has secured 600 ANTMINER S19 XP (140Th) cryptocurrency miners from Bitmain Technologies Limited (“BITMAIN”), an industry-leading hardware manufacturer.

The S19 XP boasts a custom-built Application-Specific Integrated Circuit (ASIC), a hash rate of 140 Terahashes per second (Th/s), and a power efficiency of 21.5 joules per Terahash (j/Th). The XP consumes 3010W of power, slightly less than the S19j Pro, while offering up to 40% more hashing power.

“In 2022, we are working towards scaling our operations by executing on our Five Cornerstone Strategy,” commented Mr. Scott D. Kaufman, Chief Executive Officer of Creek Road Miners. Mr. Kaufman added, “We truly value and appreciate BITMAIN’s ongoing support as we work towards achieving our strategic growth initiatives.”

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 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.

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/20211223005283/en/

Investor Relations and Media Contact:

Scott A. Sheikh

Creek Road Miners, Inc.

IR@CreekRoadMiners.com

Source: Creek Road Miners, Inc.

FAQ

What recent acquisition did Creek Road Miners (CRKR) announce?

Creek Road Miners announced the acquisition of 600 ANTMINER S19 XP cryptocurrency miners from Bitmain Technologies.

What is the hashing power of the ANTMINER S19 XP mined by CRKR?

The ANTMINER S19 XP has a hash rate of 140 Terahashes per second (Th/s).

How does the power efficiency of the S19 XP compare to other miners?

The S19 XP boasts a power efficiency of 21.5 joules per Terahash (j/Th), consuming 3010W of power.

How is Creek Road Miners planning to scale its operations?

Creek Road Miners is scaling operations by executing its Five Cornerstone Strategy alongside the acquisition of new mining equipment.

What is the significance of the announcement for CRKR shareholders?

The acquisition is a positive development that enhances mining capacity and aligns with the company's growth strategy, potentially benefiting shareholders.