Upexi Signs LOI to Purchase Operating Bitcoin Mining Facility
Upexi (NASDAQ:UPXI) has announced that its subsidiary, Quantum Hash, has signed a Letter of Intent to acquire a 2MW operating Bitcoin mining facility. The facility is currently operating at less than half capacity, with plans to upgrade equipment and add the latest mining machines to maximize hash rate and Bitcoin production.
The acquisition represents Upexi's largest cryptocurrency initiative to date, marking the first step toward their 2025 goal of operating 10-20 MW of power. The company aims to enhance its cryptocurrency portfolio and establish a revenue stream in the growing cryptocurrency industry.
CEO Allan Marshall cited recent announcements by President Trump regarding Bitcoin and cryptocurrency reserves as supporting factors for their strategic move into the sector.
Upexi (NASDAQ:UPXI) ha annunciato che la sua controllata, Quantum Hash, ha firmato una Lettera di Intenti per acquisire un impianto di mining Bitcoin da 2MW. L'impianto attualmente opera a meno della metà della sua capacità, con piani per aggiornare le attrezzature e aggiungere le ultime macchine per massimizzare il tasso di hash e la produzione di Bitcoin.
L'acquisizione rappresenta la più grande iniziativa nel settore delle criptovalute di Upexi fino ad oggi, segnando il primo passo verso il loro obiettivo del 2025 di operare con 10-20 MW di potenza. L'azienda mira a potenziare il proprio portafoglio di criptovalute e stabilire un flusso di entrate nell'in crescente settore delle criptovalute.
Il CEO Allan Marshall ha citato i recenti annunci del Presidente Trump riguardo a Bitcoin e alle riserve di criptovalute come fattori di supporto per la loro mossa strategica nel settore.
Upexi (NASDAQ:UPXI) ha anunciado que su filial, Quantum Hash, ha firmado una Carta de Intención para adquirir una instalación de minería de Bitcoin de 2MW. La instalación actualmente opera a menos de la mitad de su capacidad, con planes para actualizar el equipo y añadir las últimas máquinas de minería para maximizar la tasa de hash y la producción de Bitcoin.
La adquisición representa la mayor iniciativa de criptomonedas de Upexi hasta la fecha, marcando el primer paso hacia su objetivo de 2025 de operar con 10-20 MW de potencia. La empresa busca mejorar su cartera de criptomonedas y establecer una fuente de ingresos en la creciente industria de criptomonedas.
El CEO Allan Marshall citó los recientes anuncios del Presidente Trump sobre Bitcoin y las reservas de criptomonedas como factores de apoyo para su movimiento estratégico en el sector.
Upexi (NASDAQ:UPXI)는 자회사인 Quantum Hash가 2MW 운영 중인 비트코인 채굴 시설 인수 의향서를 체결했다고 발표했습니다. 이 시설은 현재 용량의 절반도 안 되는 수준에서 운영되고 있으며, 해시율과 비트코인 생산을 극대화하기 위해 장비를 업그레이드하고 최신 채굴 기계를 추가할 계획입니다.
이번 인수는 Upexi의 가장 큰 암호화폐 이니셔티브로, 2025년까지 10-20 MW의 전력을 운영하겠다는 목표를 향한 첫 걸음을 의미합니다. 이 회사는 암호화폐 포트폴리오를 강화하고 성장하는 암호화폐 산업에서 수익원을 확보하는 것을 목표로 하고 있습니다.
CEO 앨런 마샬은 비트코인과 암호화폐 보유에 관한 트럼프 대통령의 최근 발표를 이 분야로의 전략적 진출을 지원하는 요소로 언급했습니다.
Upexi (NASDAQ:UPXI) a annoncé que sa filiale, Quantum Hash, a signé une Lettre d'Intention pour acquérir une installation de minage de Bitcoin de 2MW. L'installation fonctionne actuellement à moins de la moitié de sa capacité, avec des plans pour mettre à niveau l'équipement et ajouter les dernières machines de minage afin de maximiser le taux de hachage et la production de Bitcoin.
Cette acquisition représente la plus grande initiative de cryptomonnaie d'Upexi à ce jour, marquant le premier pas vers leur objectif de 2025 d'opérer avec 10-20 MW de puissance. L'entreprise vise à renforcer son portefeuille de cryptomonnaies et à établir un flux de revenus dans l'industrie croissante des cryptomonnaies.
Le PDG Allan Marshall a cité les récentes annonces du Président Trump concernant Bitcoin et les réserves de cryptomonnaies comme des facteurs de soutien pour leur mouvement stratégique dans le secteur.
Upexi (NASDAQ:UPXI) hat bekannt gegeben, dass ihre Tochtergesellschaft, Quantum Hash, eine Absichtserklärung zur Übernahme einer 2MW Bitcoin-Mining-Anlage unterzeichnet hat. Die Anlage arbeitet derzeit mit weniger als der Hälfte ihrer Kapazität, mit Plänen zur Aufrüstung der Ausrüstung und zur Hinzufügung der neuesten Mining-Maschinen, um die Hash-Rate und die Bitcoin-Produktion zu maximieren.
Die Übernahme stellt die größte Kryptowährungsinitiative von Upexi bis heute dar und markiert den ersten Schritt in Richtung ihres Ziels von 2025, 10-20 MW Leistung zu betreiben. Das Unternehmen zielt darauf ab, sein Kryptowährungsportfolio zu erweitern und eine Einnahmequelle in der wachsenden Kryptowährungsbranche zu etablieren.
CEO Allan Marshall nannte die jüngsten Ankündigungen von Präsident Trump zu Bitcoin und Kryptowährungsreserven als unterstützende Faktoren für ihren strategischen Schritt in den Sektor.
- First step into cryptocurrency mining with 2MW facility acquisition
- Facility has potential to double current output through upgrades
- Clear expansion roadmap to 10-20MW by 2025
- Favorable regulatory environment with presidential support
- Facility currently operating below 50% capacity
- Acquisition still in LOI phase, not finalized
- Significant capital investment needed for equipment upgrades
Subsidiary, Quantum Hash, signs first LOI to acquire a 2MW operating facility with plans to increase to maximum output with upgraded mining power and expanded MWs of power
TAMPA, FL / ACCESS Newswire / March 3, 2025 / Upexi, Inc. (NASDAQ:UPXI) (the "Company" or "Upexi"), a brand owner specializing in the development, manufacturing and distribution of consumer products and has diversified into the Cryptocurrency space, today announced its subsidiary, Quantum Hash, has signed a Letter of Intent (‘LOI') to acquire a 2MW operating facility, its biggest initiative into the Cryptocurrency industry to date.
The facility is currently utilizing less than half its available capacity output. Quantum Hash intends to update current equipment and add the latest and fastest mining machines available to maximize hash rate and maximize bitcoin mined monthly, upon closing.
The initial 2MW of power is the first step to the Company's goal of 10-20 MW of power operating in 2025. This power and production will increase the Company's Cryptocurrency portfolio objectives and provide a revenue stream in an industry that is potentially set to grow significantly for the coming years.
Allan Marshall, Chief Executive Officer of Upexi, stated, "The opportunity to acquire the facility and jump start our entry and revenues in the Cryptocurrency space is an exciting first step and we expect this to be the first of many opportunities in 2025. The Sunday announcement by President Trump regarding Bitcoin and other Crypto reserves was a welcome surprise on something we anticipated when we decided to launch our initiatives. The industry has all the ingredients for success with growth of the underlying asset values, expansion of the Cryptocurrency industry and new administration pushing for growth in American industry and companies. We are excited about the future of our business."
About Upexi, Inc.:
Upexi is a brand owner specializing in the development, manufacturing and distribution of consumer products. The Company has entered the Cryptocurrency industry and cash management of assets through a Cryptocurrency Portfolio.
FORWARD LOOKING STATEMENTS:
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with business strategy, potential acquisitions, revenue guidance, product development, integration, and synergies of acquiring companies and personnel. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward- looking statements. Although we believe that the beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Company Contact
Andrew Norstrud, Chief Financial Officer
Email: andrew.norstrud@upexi.com
Phone: (702) 332-5591
Investor Relations Contact
KCSA Strategic Communications
Valter Pinto, Managing Director
Email: Upexi@KCSA.com
Phone: (212) 896-1254
SOURCE: Upexi
View the original press release on ACCESS Newswire
FAQ
What is the capacity of the Bitcoin mining facility Upexi (UPXI) is acquiring?
What are Upexi's (UPXI) power capacity goals for 2025 in cryptocurrency mining?
How does Upexi (UPXI) plan to improve the Bitcoin mining facility's performance?
What is the strategic importance of this Bitcoin mining facility acquisition for Upexi (UPXI)?
