SYSOREX INC - SYSX STOCK NEWS

Sysorex (OTCQB: SYSX) reports robust growth in its government sales pipeline, announcing contracts exceeding $16 million in Q3 2021. New orders include $11.3 million from the U.S. Department of Justice's Bureau of Prisons and $4.9 million from the U.S. Department of Agriculture. Key contracts involve maintenance and security services, enhancing profit potential. Additionally, a recent merger improved the subsidiary's position, allowing for competitive pricing and resource acquisition.

Sysorex (OTCQB: SYSX) announced a financial update detailing a successful private placement, raising approximately $12.4 million in gross proceeds through convertible debentures and warrants. The first and second closings occurred on July 7 and August 13, 2021, resulting in over $14 million issued in debentures and warrants. CEO Wayne Wasserberg indicated these funds will enhance their data center capacity, expand the management team, and support Ethereum mining growth and Ethereum 2.0 strategies. The company has also added over $2.5 million in Ethereum to its balance sheet.

Sysorex (OTCQB: SYSX) has appointed William B. Stilley, III to its Board of Directors and as Chair of the Audit Committee, expanding the Board to five members. Stilley, CEO of Adial Pharmaceuticals, brings significant financial and operational expertise, crucial as Sysorex prepares for a listing on a senior market. The company, focused on Ethereum mining, operates around 10,000 NVIDIA GPUs and aims to leverage blockchain technology in new markets like healthcare. This leadership change reflects Sysorex's commitment to strong corporate governance and growth.

Sysorex, Inc. (OTCQB: SYSX) has announced a conference call to discuss its business strategies related to Ethereum 2.0 and blockchain technologies on August 9, 2021, at 11:00 AM ET. The call aims to provide investors with insights into the company's operations, financial updates, and future outlook. Investors can join by dialing 844-369-8770 (U.S.) or +862-298-0840 (international) or via a webcast available on the company's investor section. A replay will be available through August 9, 2022.

Sysorex (OTCQB: SYSX) has announced that all Ether mined as of July 13, 2021, is retained in its treasury wallet at Coinbase. With $8 million in new investments, the company has settled all debts and owns approximately 10,000 fully paid GPUs for mining. The anticipated Ethereum upgrade EIP-1559 is expected to enhance transaction fee predictability and potentially increase Ether's value. As Sysorex prepares for Ethereum 2.0, it aims to leverage its Ether holdings in Proof of Stake and repurpose its GPUs to drive additional revenue.

Sysorex, a U.S.-based Ethereum mining company, has finalized the acquisition of 1,344 Nvidia CMP V100 GPUs, enhancing its mining capacity by approximately 20%. This move is aligned with the company's strategy to retain mined Ether (ETH) in treasury, potentially improving its balance sheet. From April to July 2021, these GPUs mined 421.494 ETH, generating about $1,090,000 in revenue. Sysorex's mining capacity has now increased by around 100% since Q1 2021, positioning it favorably for Ethereum's transition to Proof-of-Stake.

Sysorex, Inc. (OTCQB: SYSX) announced a conference call scheduled for August 9, 2021, at 11:00 AM ET to discuss its business strategies, Ethereum 2.0, and blockchain technologies. The call aims to provide financial updates and an operational outlook for investors. Sysorex is a leading Ethereum mining company operating thousands of NVIDIA GPUs, generating about 500 Gigahash of computing power for the Ethereum Blockchain. The company also has a subsidiary providing IT solutions to government sectors.

Sysorex, Inc. (OTCQB: SYSX) announced that its subsidiary, Sysorex Government Services, Inc. (SGS), secured a five-year, $10 million contract to provide support and maintenance for secure video relay systems (VRS) in 102 prison sites. The VRS system is designed for deaf and hearing-impaired inmates and includes advanced video communication technology. Following a recent merger with TTM Digital Assets, Sysorex aims to expand its contract portfolio and pursue new revenue opportunities, with additional contract announcements expected.

Sysorex (OTCQB: SYSX), the largest U.S.-based Ethereum mining company, highlighted the potential benefits of reduced Chinese cryptocurrency mining regulation. CEO Wayne Wasserberg noted that a significant decline in Ethereum mining from China could enhance TTM Digital Assets & Technologies' market position and profitability. Currently, about 70% of global cryptocurrency mining occurs in China, and increased interest from institutional investors in U.S.-sourced crypto assets is expected. Sysorex's operations are environmentally friendly, requiring much less power than Bitcoin mining, and aims to achieve carbon neutrality this year.