ISW Holdings Announces Phase 1 of 200 MW Southeastern US Cryptocurrency Mining Project Nears Completion

Rhea-AI Summary

ISW Holdings, transitioning to BlockQuarry, announced significant progress on its Southeastern U.S. project, nearing completion of the first phase, which pairs 56,000 mining rigs with 200 MW of power. The company has successfully built out the infrastructure for deploying 20 MW of power for cryptocurrency mining Pods. Despite supply chain challenges, manufacturing has been expedited. With the first tranche of Pods set for delivery, ISW Holdings aims to enhance its position as a leading mining provider in North America and plans further site developments starting early 2022.

Positive

• Completion of first phase infrastructure for 20 MW of cryptocurrency mining.
• Successful partnership with Bit5ive and progress despite supply chain issues.
• Plans for additional site developments starting in early 2022.

Negative

• None.

LAS VEGAS, Oct. 19, 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 that the first phase of its Southeastern U.S. project to pair 56,000 mining rigs with 200 megawatts (“MW”) of power is now nearing completion, which constitutes the infrastructure build-out to deploy 20 MW of power to self-contained cryptocurrency mining Pods.

Larry Sossamon, President, and Chic Blanton, Vice President of Sossamon Construction Co., Inc., commented, “We are very excited to be working with the Bit5ive team, a leading pioneer in the crypto mining space, on this exciting project. We have made excellent progress as we near completion of the first phase of over 200MW of crypto mining parks in South and North Carolina. These projects represent some of the most innovative of their kind, and stand to create many new jobs and new opportunities in the area.”

Company management also notes that Bit5ive will begin delivering the first tranche of new mining Pods to the site over coming weeks.

“Even with supply chain issues, we have managed to manufacture in record time,” noted Alonzo Pierce, Chair and President of ISW Holdings. “We will continue to do our best to hit our schedule objectives despite difficult market conditions, and we are thrilled to start deploying our Gen4 Pods to the site as the project ramps up. We are also excited to report that engineering and planning have gotten underway on the next sites to be developed starting in early 2022.”

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

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FAQ

What is the purpose of ISWH's Southeastern U.S. project?

The project aims to pair 56,000 mining rigs with 200 MW of power for cryptocurrency mining.

What is the status of ISWH's cryptocurrency mining Pods?

The first tranche of mining Pods will be delivered to the site in the coming weeks.

What challenges is ISWH facing in its operations?

ISWH has encountered supply chain issues but has managed to manufacture mining Pods in record time.

When will ISWH begin developing new sites?

ISWH plans to start engineering and planning for new sites in early 2022.

What is the expected impact of ISWH's projects on local jobs?

The projects are anticipated to create many new jobs and opportunities in the areas of South and North Carolina.