ISW Holdings Acquires Nearly $4M in New Mining Capacity via Asset Purchase

Rhea-AI Summary

ISW Holdings, Inc. (OTC: ISWH) announces the completion of an asset purchase agreement with Minerset, LLC to acquire 400 cryptocurrency miners, enhancing their operational capacity. This strategic deal includes 150 BitMain S19 miners and 250 Canaan AvalonMiners, representing a $3.8 million investment. The addition boosts total mining operations in Stronghold, Pennsylvania, to 54,000 TH/s. This expansion is expected to drive significant revenue growth in the latter half of 2021, complementing a recent partnership with Bitmain.

Positive

• Acquisition of 400 miners enhances in-house capacity to 54,000 TH/s.
• Investment of $3.8 million increases asset value and operational capability.
• Expected revenue growth driven by increased mining capacity in H2 2021.

Negative

• None.

Addition of 400 state-of-the-art miners brings Stronghold, Pennsylvania, site to 54,000 TH/s

LAS VEGAS, Aug. 18, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company,” transitioning to “BlockQuarry,” pending name change), a Nevada-based portfolio company with primary commercial-stage operations in cryptocurrency mining, is pleased to announce the completion of an asset purchase agreement (the “Agreement”) with Minerset, LLC, a Delaware limited liability company, providing for the purchase by ISW Holdings of 400 state-of-the-art cryptocurrency miners.

“As we have discussed in our recent communications, we are actively engaged in expansion in both our hosting and mining segments,” stated Alonzo Pierce, president and chairman of ISW Holdings. “This asset purchase agreement with Minerset represents a material broadening of our in-house mining capacity and will enable us to drive further top-line growth in the second half of 2021 as we ramp up toward the sizable jump lined up for next year, thanks to our recent partnership deal with Bitmain.”

The Agreement provides for the purchase of 150 BitMain S19 95TH/s miners and 250 Canaan AvalonMiner 1246 90TH/s miners. The equipment purchase adds $3.8 million in new physical assets to the Company’s balance sheet and will dramatically expand its total in-house mining capacity and hashrate once installed and activated.

Payment has already been made, and the Company is set to take possession of the miners, which will be installed and activated in POD5 units at the Company’s mining site in Pennsylvania, bringing its Stronghold, Pennsylvania, mining operation hashrate to 54,000 TH/s.

About ISW/BlockQuarry

ISW/BlockQuarry Corp. is quickly becoming one of the largest mining and hosting providers in the digital currency space in North America as we seek to transform the financial markets of the future. Our complement of cutting-edge technologies has enhanced the bitcoin/cryptocurrency ecosystem, enabling our customers to take advantage of real-time cost savings. At the same time, our customers can feel confident that their digital transactions and assets are entirely secure. Our company utilizes a scalable blockchain infrastructure to convert unique identifiable assets (UIAs) into interchangeable digital assets such as Bitcoin and other fungible digital assets. We offer immediate liquidity in the form of fast, confidential transactions, as well as the issuance of assets in the traditional capital markets.

Forward Looking Statements

This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could" "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with OTC Markets (www.otcmarkets.com).

Company Contact:
info@ISWHoldings.com

Public Relations
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Corporate Communications:
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FAQ

What is the significance of ISWH's recent acquisition of miners?

The acquisition significantly enhances ISWH's mining capacity, expanding its operational capability to 54,000 TH/s.

How much did ISWH invest in the new cryptocurrency miners?

ISWH invested $3.8 million in the purchase of 400 new cryptocurrency miners.

What types of miners did ISWH acquire?

ISWH acquired 150 BitMain S19 miners and 250 Canaan AvalonMiner 1246 units.

When will the new miners be operational?

The miners will be installed and activated shortly after acquisition, contributing to operations in the latter half of 2021.