TRON Group Inc. Acquires Digital Engineering Corporation ("DEC") to be Cornerstone of R&D Division and to Manage Technology Portfolio

Rhea-AI Summary

TRON Group, Inc. (TGRP) announced the acquisition of Digital Engineering Corporation (DEC), enhancing its technology R&D capabilities. The strategic acquisition includes DEC's cryptocurrency mining operations in Bangkok, Thailand, featuring advanced mining machinery and infrastructure. TRON will benefit from reduced electrical costs at approximately $0.04/Kwh. DEC will also oversee TRON's subsidiary, American Crypto Services, managing a crypto mining facility in Idaho. This move is projected to bolster TRON's market position in cryptocurrency and technology investments.

Positive

• Acquisition of DEC enhances TRON's R&D capabilities in cryptocurrency and digital security.
• Investment in Bangkok facility supports a large-scale cryptocurrency mining operation.
• Reduced electrical costs to approximately $0.04/Kwh improve profitability.

Negative

• None.

EAGLE, ID / ACCESSWIRE / July 8, 2021 / TRON Group, Inc. (OTC PINK:TGRP), a global holding company specializing in technology investments, announced today the acquisition of Digital Engineering Corporation ("DEC"), an established Hong Kong-based technology R&D and engineering firm. The acquisition will allow TRON to move day-to-day management of the Company's technology portfolio to the seasoned engineering team of DEC. In addition, TRON will be able to absorb DEC's current R&D effort in the fields of cryptocurrency, digital wallet security, and data mining optimization.

The completed DEC transaction includes the asset purchase of the previously announced cryptocurrency mining operation in Bangkok, Thailand as well as fifty (50) state-of-the-art crypto-mining machines and all related infrastructure and support technologies, including racks, power supplies, and AC units. The Thai facility includes an established Filecoin and Bitcoin mining infrastructure network with sufficient broadband to accommodate a large-scale cryptocurrency mining operation. The company has ordered an electrical transformer that will allow the Thailand facility to support up to 1,000 mining rigs. The modern energy-efficient transformer will allow TRON to lower electrical costs down to about $0.04/Kwh.

DEC will also be managing TRON's subsidiary, American Crypto Services, Inc., which own a crypto mining facility in the Boise Valley of Idaho. The facility has 6,000 square feet of warehouse space and has the 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/654698/TRON-Group-Inc-Acquires-Digital-Engineering-Corporation-DEC-to-be-Cornerstone-of-RD-Division-and-to-Manage-Technology-Portfolio

FAQ

What is the significance of TRON Group's acquisition of DEC?

The acquisition strengthens TRON's R&D capabilities in cryptocurrency and digital wallet technologies, allowing better management of its technology portfolio.

How will the acquisition of DEC impact TRON Group's operations?

DEC will manage TRON’s technology portfolio and its cryptocurrency mining operations, potentially improving operational efficiencies and market competitiveness.

What are the financial implications of the DEC acquisition for TGRP?

The acquisition is expected to lower electrical costs and enhance profitability through improved mining operations and advanced technology integration.

When was the acquisition of DEC announced by TRON Group?

The acquisition was announced on July 8, 2021.