ISW Holdings Provides Corporate Update: Mining Revenues Ahead of Expectations, Phase One Set to Switch On
ISW Holdings, transitioning to BlockQuarry, reports strong year-end performance in cryptocurrency mining, exceeding revenue expectations. The Southeastern U.S. project is set to go live, with 20 MW of power deployed despite earlier delays. Future expansion may increase capacity to 500 MW, closely tied to an S-1 filing for a planned Nasdaq uplisting. With a vertically integrated operation, ISW maintains a fleet of 56,840 crypto mining computers. The company also continues its established Telecare services.
- Revenue run rate from cryptocurrency mining exceeds expectations.
- Southeastern U.S. project activation will enhance operational capacity significantly.
- Potential expansion to 500 MW for increased hosting and mining operations.
- S-1 filing initiated for potential uplisting to Nasdaq.
- Initial activation of the Southeastern U.S. project was delayed due to supply chain issues.
LAS VEGAS, Dec. 09, 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 provide this update for current and prospective shareholders as the Company heads into the end of a tremendous year of growth ahead of what promises to be a game-changing year in 2022.
Mining Performance. As we approach year-end, the Company’s revenue run rate from its own cryptocurrency mining operations has begun to exceed internal and publicly stated expectations. The Company will provide more details on this in the near future.
Southeastern U.S. Project. Phase One of the Company’s Southeastern U.S. project to pair 56,000 mining rigs with 200 megawatts of power is about to go live, which will activate 20 MW of power deployed to self-contained cryptocurrency mining Pods. The timeline for this activation was delayed relative to expectations due to supply chain bottlenecks for key equipment items. However, final deliveries are arriving over coming days.
Further Expansion. Following the full deployment and activation of all 200 MW of power at the Company’s Southeastern U.S. project, ISW will have the opportunity to increase its facility to 500 MW of power, allowing for a significant expansion in hosting and mining potential. This opportunity ties into the Company’s S-1 Filing process.
“Filing the S-1 was an integral step as we continue to work toward an uplisting to the Nasdaq exchange,” stated Alonzo Pierce, President and Chair of ISW Holdings. “We are on the verge of activating our Phase One hosting operations, and we expect Phase Two to move rapidly on the heels of that transition. Once we have the entire 200 MW fully deployed, we will have the opportunity to push the ceiling considerably higher. We are also very pleased at the results coming in from Pennsylvania, where our mining efficiency has exceeded expectations.”
About ISW/BlockQuarry
ISW/BlockQuarry Corp is poised as an emerging disruptor in the crypto asset, hosting, mining and Blockchain IP markets. The Company focuses on hosting and mining Bitcoin with eyes on new IP in Crypto and Blockchain, and currently leases and operates renewable energy power generation facilities in Scrubgrass Township, PA, Gaffney, SC, Rutherford, NC, and Mooreshead, NC.
We are vertically integrated and maintain a fleet of digital/cryptocurrency mining equipment and infrastructure. Based on our current partnerships, agreements, and memorandums, the Company anticipates future operations that leverage up to 56,840 crypto asset mining computers (miners). The Company's Hosting and Mining Operations fleet comprises approximately 300 Bitmain Antminer S17 Pro (S17 Pro) miners, approximately 150 Bitmain Antminer S19 (95T) miners, approximately 250 Canaan AvalonMiner 1296 Pro (90T) miners, and approximately 5,600 series S19 J Pro (100-110T) miners per 20 MW of implemented power up to 56,000 S19 J Pro miners for our 200 MW project in partnership with BITMAIN Technologies.
At present, we also retain operations in one segment that predates our strategic pivot into crypto assets because of the continued success of that line of business: Telecare. Telecare is a growing licensed provider of in-home healthcare services and innovations for communities around the gulf coast region of Texas offering quality, value-based healthcare to patients within the comfort and privacy of their home or place of residence.
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).
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FAQ
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