SYSOREX INC - SYSX STOCK NEWS

Sysorex (OTCQB: SYSX) reported substantial growth, with third-quarter revenue up over 85% to $3.5 million and operating expenses down nearly 15%. The company has secured $13 million in new government service orders, expected to enhance long-term cash flow. The TTM Digital Assets & Technology subsidiary is pivoting its business model due to Ethereum's shift to Proof-of-Stake, focusing on AI/ML processing and cloud hosting. Management expects these strategies will yield higher margins and sustainable operations moving forward.

Sysorex announced a securities purchase agreement with accredited investors to raise approximately $500,000 through the sale of its common stock and warrants. This private placement transaction aims to bolster its financial standing.

Sysorex operates a data center with around 11,000 NVIDIA GPUs providing approximately 500 Gigahash of computing power for Ethereum mining. The company also engages in decentralized finance and NFT opportunities via its subsidiary, Sysorex Government Services.

Sysorex (OTCQB: SYSX) provided a business update emphasizing its belief in the future of Ethereum despite market downturns. The anticipated sale of its data center and mining capacity to Ostendo for approximately $70 million will reduce monthly revenue by $600,000 but enhance shareholders' equity. The company has mined an average of 236 ETH monthly since October 2021, generating about $816,951 monthly. Sysorex Government Services has invoiced nearly $9 million this year, yielding over $750,000 in profit, as the company prepares for a potential national stock exchange listing.

Sysorex, Inc. (OTCQB: SYSX) announced significant shareholder engagement via a letter from Bigger Capital Fund, LP and District 2 Capital Fund LP, owning approximately 9.6% of the company. The Funds plan to collaborate with Sysorex to unlock its potential without advocating for management changes. A critical transaction with Ostendo Technologies is expected to finalize around May 24, 2022, granting Sysorex 7,291,667 shares valued at $70 million. This partnership could enhance Sysorex's position in augmented reality and technology sectors, supported by notable investors.

Sysorex, Inc. (OTCQB: SYSX) announced plans to sell certain assets in exchange for equity valued significantly higher than its current market capitalization. Following a reverse merger with TTM Digital Assets, Sysorex has seen a substantial gross revenue increase and has expanded its asset portfolio, including GPUs and an NFT marketplace investment. CEO Wayne Wasserberg emphasized the need to unlock shareholder value through this transaction, expected to close in late February or early March. However, success is not guaranteed.

Sysorex (OTCQB: SYSX) announced its Ethereum holdings are valued at over $6.5 million, with a total of 1,520 ETH and an average addition of 10 ETH daily. CEO Wayne Wasserberg highlighted a strategic shift to holding mined ETH for future revenue opportunities as Ethereum transitions to proof of stake. The company, now fully owning its primary data center, has increased its gigahash by 10% and is advancing its NFT strategy with investments in platforms such as The Hunt marketplace.

Sysorex (OTCQB: SYSX) reported a significant increase in Q3 revenue, reaching $4.9 million, up from $0.6 million year-over-year. The company ended Q3 with over $4.3 million in cash and owns Ethereum assets valued at over $6.1 million. Their data center in New York has seen a 10% increase in mining capacity, driving operational efficiency. Additionally, Sysorex Government Services secured government contracts worth more than $16 million. Despite these gains, the company posted a net loss of $3.5 million for the quarter, impacted by one-time merger costs.

Sysorex has acquired the remaining 50% of its upstate New York data center, gaining 100% ownership. The acquisition includes 1,000 GPUs, increasing mining capacity by 10%. The total purchase price was $1 million and 1 million shares of restricted stock. Sysorex now possesses over $5.5 million in Ethereum from its mining operations, expecting to mine over 300 Ethereum monthly, adding approximately $1.35 million to its wallet each month. This acquisition positions Sysorex to enhance its Ethereum mining operations significantly.

Sysorex (OTCQB: SYSX) has announced the appointment of Brian Raymond as Chief Technology Officer to oversee Ethereum mining operations and blockchain technology expansion. The company will also acquire the remaining 50% of Up North Hosting LLC, increasing its mining capacity by approximately 10% with the addition of 1000 GPUs. This move aims to enhance competitiveness in the cryptocurrency sector. Sysorex operates around 10,000 GPUs, generating about 500 Gigahash of computing power for Ethereum mining, ensuring operational profitability.