Fourth Wave Energy Inc. Raises $4,300,000 in capital financing.
Fourth Wave Energy has secured $4.3 million through retail and institutional investors, surpassing their initial goal of $3 million. The funds will enhance their mining operations and high-performance computing (HPC) hardware, particularly benefiting their subsidiary, EdgeMode, which received $1.6 million to drive its growth. EdgeMode aims to expand its data center capabilities, promoting increased Bitcoin production. However, potential risks include market volatility in Bitcoin prices and operational challenges in contracted hosting capacities.
- Raised $4.3 million to boost mining and HPC hardware.
- Exceeding initial fundraising target of $3 million due to high demand.
- Investment of $1.6 million to support EdgeMode's rapid growth.
- Risks include substantial decrease in Bitcoin price.
- Potential delays in the audit of Edgemode.
- Operational issues with contracted hosting capacity.
SAN JOSE, Calif, Dec. 21, 2021 /PRNewswire/ -- Fourth Wave Energy, Inc. or the "Company"), (OTCQB:FWAV) has raised
"We initially set out to raise 3 million dollars but had extra demand due to the exciting story of EdgeMode. We have advanced EdgeMode
EdgeMode has used these funds to place their fourth hardware order of 2021 with 2CSRi (EPA: 2CRSI, ISIN code: FR0013341781), a designer and manufacturer of high-performance energy-efficient IT servers and therefore increase their processing powering, revenue and exceeding growth targets.
See full press release here.
About Edgemode Inc.
EdgeMode is a cryptocurrency mining and High-Performance Computing technology company focused on rapid hash rate growth and deployment of US-based data center locations, generating ever-increasing Bitcoin production. EdgeMode is built by a team of experienced and successful entrepreneurs that have worked together for more than ten years in other successful ventures. The team has domain experience in technology, data center infrastructure, blockchain and finance. EdgeMode has offices in Chicago, San Francisco Bay Area and London and are backed by industry
leading VC funds and investors.
For additional information respecting EdgeMode, please visit www.edgemode.io
About Fourth Wave Energy Inc
For investor and general information, please email info@fourthwaveenergy.com.
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact constitute 'forward-looking statements including statements regarding expected closing time, forecasted hosting capacity to come online in Q1 2022, expectations from the contracted hosting capacity, expansion, and profitability from operations. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. These risks include:
- unanticipated issues, including closing conditions not being met, which cause the merger not to close;
- delays in the audit of Edgemode;
- unanticipated issues with Edgemode's contracted hosting capacity;
- substantial decrease in the price of bitcoin
- regulations, supply chain issues and/or increased utility costs which make bitcoin mining prohibitive.
Contact:
Phone: 408-213-8874
www.fourthwaveenergyinc.com
info@fourthwaveenergyinc.com
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SOURCE Fourth Wave Energy Inc.
FAQ
What is the total funding raised by Fourth Wave Energy as of December 2021?
How will Fourth Wave Energy utilize the funds raised in December 2021?
What financial support has been provided to EdgeMode by Fourth Wave Energy?
What are the financial risks associated with Fourth Wave Energy's operations?
When was the fundraising announcement made by Fourth Wave Energy?
