ISW Holdings Signs Hosting and Maintenance Agreement for Expanded Cryptocurrency Mining Activity in Pennsylvania

Rhea-AI Summary

ISW Holdings, Inc. (OTC: ISWH) has announced a Hosting and Maintenance Agreement with Scrubgrass Generating Company and Bit5ive, LLC as it prepares to deploy 840 new ASIC miners. These miners are expected to generate approximately $9.9 million in annual revenue at current Bitcoin prices. With mining costing around $11K per Bitcoin, the company sees a significant ROI opportunity. The expansion will enhance ISWH's operational capacity in the cryptocurrency mining sector, aligning with the positive trend in Bitcoin prices.

Positive

• Signing of the Hosting and Maintenance Agreement is a strategic step for expansion.
• Deploying 840 new ASIC miners expected to generate $9.9 million in annual revenue.
• Current Bitcoin pricing offers a strong return on investment (ROI) for mining operations.

Negative

• None.

LAS VEGAS, NV, Feb. 23, 2021 (GLOBE NEWSWIRE) --

 via NewMediaWire--ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a global brand management holdings company with commercial operations in Telehealth and Cryptocurrency Mining, is pleased to announce that, prior to going online with its new ASIC s17 miners, the Company has signed a comprehensive Hosting and Maintenance Agreement (the “Agreement”).

“As we continue to bring our miners online, we want our shareholders to be able to track the expansion and profitability of the Company’s mining activity given the sharp rising trend in Bitcoin prices,” commented Alonzo Pierce, President and Chairman of ISW Holdings. 

According to the Agreement, Scrubgrass Generating Company, LLP, based in Kennerdell, PA, will provide electricity and Bit5ive, LLC (“Bit5ive”), will serve as the official provider of mine uploading services.

Management notes that this is a critical factor as the Company prepares to bring another 840 ASIC miners online as part of its next three Pod5 datacenter mining units.

The initial power demand for the additional three Pod5 mining pod units, equipped with a total of 840 additional miners, is approximately 4 MW. At current prices, these units will produce approximately $9.9 million in annualized revenues from mining activity.

“It currently costs about $11K in computing power to mine a single Bitcoin,” added Pierce. “Bitcoin is pricing at over five times that level, making this is an exceptional ROI opportunity, and our responsibility to our shareholders is clear: continue to invest, expand, and execute.”

About ISW Holdings

ISW Holdings, Inc. (ISWH), based in Nevada, is a diversified portfolio company comprised of essential business lines that serve consumer product demands. Our expertise lies in strategic brand development, early growth facilitation, as well as brand identity through our proprietary procurement process. Together, with our partners, we seek to provide a structure that meets large scalability demands, as well as anticipated marketplace needs. We are able to meet these needs through a variety of strategic innovative processes. ISWH is creating and managing brands across a spectrum of disruptive industries. It maneuvers its proprietary companies through critical stages of market development, which includes conceptualization, go-to-market strategies, engineering, product integration, and distribution efficiency. The company has also partnered with a well-known software development and consulting company, Bengala Technologies LLC, which is developing significant enhancements in the supply chain management space; and the partnership has a vitally needed patent now pending.

For more information, visit www.iswholdings.com

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
EDM Media, LLC
https://edm.media
(800) 301-7883

FAQ

What is the recent agreement signed by ISWH?

ISWH signed a Hosting and Maintenance Agreement with Scrubgrass Generating Company and Bit5ive, LLC to facilitate its mining operations.

How many ASIC miners is ISWH planning to deploy?

ISWH plans to deploy 840 new ASIC miners as part of its expansion.

What is the expected annual revenue from the new ASIC miners?

The new ASIC miners are expected to generate approximately $9.9 million in annual revenue.

What is the investment cost to mine a Bitcoin according to ISWH?

ISWH states it costs about $11K in computing power to mine a single Bitcoin.

What is ISWH's stock symbol?

ISWH's stock symbol is ISWH, traded on the OTC market.