Arkose Launches Its New Business Strategy Embracing Digital Asset Mining

Rhea-AI Summary

Arkose Energy Corp. has transitioned to the OTC current information standard, enabling it to pursue specialized energy production supporting the Bitcoin proof-of-work network. The company completed a pilot project using natural gas to mine bitcoin. Arkose focuses on efficient processes to convert natural gas into electricity and aims to partner with other energy producers while capturing waste energy. CEO Bo Ritz emphasized that the energy sector will see significant blockchain transformations, promoting sustainable practices and carbon neutrality in its operations.

Positive

• Completed migration to OTC current information standard, enhancing transparency.
• Successful pilot project integrating natural gas production with bitcoin mining.
• Focus on sustainable energy practices and carbon neutrality.

Negative

• None.

KATY, TX / ACCESSWIRE / October 26, 2021 / Arkose Energy Corp. has completed its migration from limited information to the OTC current information standard under the alternative standards as set by OTC Markets. This step creates a platform allowing the company to pursue its strategy of specialized energy production in support of the Bitcoin proof-of-work (PoW) network. The company has successfully completed its pilot project of utilizing its current natural gas production to mine bitcoin as a fully integrated process.

Arkose is continuing to develop efficient processes of identifying and converting natural gas to electricity with decentralized assets across an array of opportunities. These opportunities include converting its own production, partnering with other energy producers, and technically assisting in capturing waste energy such as flare gas. By taking each opportunity as a case-by-case project, the company believes it has identified ways to outperform other traditional digital mining companies in several areas.

According to Bo Ritz, "The energy business, outside of the financial sector, will be the industry in which blockchain has the biggest transformative and disruptive impact. The efficient use of traditional energy sources to power PoW networks eliminate the risk of reliance on traditional power grids. It additionally allows for control of the power source in a fully integrated environment from electricity generation to block creation."

Ritz adds, "Arkose is fully committed to generating the electricity to power our PoW mining operation in a sustainable and environmentally conscious way. We are currently implementing groundbreaking technology on the path to carbon neutrality. Arkose Energy Corp. is excited to be a company that will lead the way in this transformation."

About Arkose Energy, Corp.

Arkose Energy Corp. has historically specialized in the production of oil and gas, with the acquisition and development of oil and gas properties primarily in the southern United States. Arkose now focuses on the intersection between energy production and cryptocurrency mining. The company is based in Katy, Texas.

Forward Looking Statements

The information provided in this press release may include forward-looking statements within the meaning of the federal securities laws, including statements regarding the company's ability to monetize energy production for mining and to outperform other participants in the mining space. This information, therefore, is subject to certain risks and uncertainties. There can be no assurance that the actual results, business conditions, business developments, losses and contingencies and local and foreign factors will not differ materially from those suggested in the forward-looking statements as a result of various factors, including market conditions, competition, advances in technology and other factors. Words such as "expects", "believes", "hopes" and similar terminology are meant to identify forward-looking statements. The forward-looking statements contained in this press release are based on the company's current expectations and assumptions that may not be correct. Readers of this press release should not place undue reliance on these forward-looking statements, which reflect the expectations of the company as of the date of this press release. The company has not assumed an obligation to correct or update any forward-looking statements contained in this press release, other than as required under applicable securities laws.

CONTACT:

1773 Westborough Dr.
Suite 600
Katy, TX 77449
info@arkoseenergy.com

SOURCE: Arkose Energy Corp.

View source version on accesswire.com:
https://www.accesswire.com/669745/Arkose-Launches-Its-New-Business-Strategy-Embracing-Digital-Asset-Mining

FAQ

What recent developments has Arkose Energy Corp. announced regarding its business strategy?

Arkose Energy Corp. has migrated to the OTC current information standard and completed a pilot project using natural gas for bitcoin mining.

How does Arkose Energy's approach benefit its position in the energy sector for cryptocurrency mining?

The company aims to outperform traditional digital mining companies by utilizing its energy production and capturing waste energy efficiently.

What commitment has Arkose Energy Corp. made towards sustainability?

Arkose Energy is committed to generating electricity for its cryptocurrency mining operations in a sustainable and environmentally conscious manner.

What is the significance of the recent migration to the OTC current information standard for Arkose Energy?

The migration enhances the company's transparency and credibility in capital markets, facilitating investment opportunities.