TRON Group Inc. Acquires American Crypto Systems, Inc in Expansion into U.S. Crypto Markets

Rhea-AI Summary

TRON Group (OTC PINK:TGRP) announced the acquisition of American Crypto Systems, Inc., a profitable cryptocurrency mining operation in Boise, Idaho. This strategic move aims to enhance operational capacity by upgrading the facility to support up to 500 mining rigs, currently operating with 200 machines. The acquisition seeks to capitalize on potential revenue streams in cryptocurrency hosting services and digital bookkeeping. The Idaho facility benefits from favorable conditions such as inexpensive electrical power and tax advantages, supporting TRON's growth in the crypto market.

Positive

• Acquisition of American Crypto Systems may boost revenue through enhanced operational capacity.
• Strategic location in Idaho offers benefits like low electricity costs and tax advantages.
• Expansion into digital services such as hosting and encrypted bookkeeping could diversify revenue streams.

Negative

• None.

EAGLE, ID / ACCESSWIRE / July 6, 2021 / TRON Group, Inc. (OTC PINK:TGRP), a global holding company specializing in technology investments, announced today the acquisition of American Crypto Systems, Inc., a profitable cryptocurrency mining operation based in the Boise valley, Idaho. TRON has the immediate intention of preparing upgrades to the facility in order to increase capacity for the operation. In addition to cryptocurrency mining, American Crypto Mining's data scientists also develop core technologies in the fields of:

• block chain data mining,
• distributed computing,
• distributed database management, and the
• detection of mining pool management failure

This internal research has proved successful through software developments in data acquisition, data mining, encrypted data bookkeeping, and encrypted data acquisition. It is the anticipation of TRON Group management that continued research will open new revenue markets for the Company in fields such as:

• More efficient and profitable hosting services for other crypto-mining companies,
• Offering encrypted digital safe boxes for digital wallets, and
• Digital bookkeeping services and the licensing thereof for the mining of virtual currencies

American Crypto Mining is located in Idaho, in the northwest of the United States bordering Canada. With its suitable climate condition, abundant and relatively inexpensive electrical power resources, open market economic system, and tax advantages, TRON Group made the decision that the region was a suitable location for running a data mining company. The Idaho facility has 6,000 square feet of warehouse space; American Crypto Mining currently runs 200 machines and seeks to quickly move to maximize current capacity of up to 500 mining rigs.

About TRON Group Inc.

TRON Group Inc. is a holding company acquiring operating companies and assets in growing industries. The company's intent is to grow them by providing management and technical support under its public company umbrella.

For further information:

Contact: info@tron-group.com
Phone: (310) 450-9100
Jacob Nguyen, CEO

Forward-Looking Statements:

Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, and the possible inability to maintain qualified employees or consultants.

SOURCE: TRON Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/654334/TRON-Group-Inc-Acquires-American-Crypto-Systems-Inc-in-Expansion-into-US-Crypto-Markets

FAQ

What is the purpose of TRON Group's acquisition of American Crypto Systems?

The acquisition aims to enhance TRON's operational capacity in cryptocurrency mining and expand revenue opportunities through new services.

When was the acquisition of American Crypto Systems announced?

The acquisition was announced on July 6, 2021.

How will TRON Group benefit from the Idaho facility?

The Idaho facility offers favorable conditions like inexpensive power and tax advantages, enabling more profitable operations.

What new services does TRON Group plan to offer post-acquisition?

TRON plans to offer hosting services for crypto-mining companies and digital bookkeeping services following the acquisition.

What is the current capacity of the American Crypto Systems mining operation?

The current capacity is 200 mining machines, with plans to expand to 500.