Bullboard - Stock Discussion Forum BlockQuarry Corp BLQC

BlockQuarry Corp. provides mining and hosting services in the digital currency space in North America. It uses a blockchain infrastructure to convert unique identifiable assets into interchangeable digital assets, such as Bitcoin and other fungible digital assets. The company was formerly known as ISW Holdings Inc. and changed its name to BlockQuarry Corp. in August 2021. BlockQuarry Corp. is... see more

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BlockQuarry Corp > $ISWH Acquires Nearly $4M in New Mining Capacity

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Post by AveragePenny on Aug 18, 2021 11:28am

$ISWH Acquires Nearly $4M in New Mining Capacity

https://www.globenewswire.com/news-release/2021/08/18/2282666/0/en/ISW-Holdings-Acquires-Nearly-4M-in-New-Mining-Capacity-via-Asset-Purchase.html

“As we have discussed in our recent communications, we are actively engaged in expansion in both our hosting and mining segments,” stated Alonzo Pierce, president and chairman of ISW Holdings. “This asset purchase agreement with Minerset represents a material broadening of our in-house mining capacity and will enable us to drive further top-line growth in the second half of 2021 as we ramp up toward the sizable jump lined up for next year, thanks to our recent partnership deal with Bitmain.”

The Agreement provides for the purchase of 150 BitMain S19 95TH/s miners and 250 Canaan AvalonMiner 1246 90TH/s miners. The equipment purchase adds $3.8 million in new physical assets to the Company’s balance sheet and will dramatically expand its total in-house mining capacity and hashrate once installed and activated.

Payment has already been made, and the Company is set to take possession of the miners, which will be installed and activated in POD5 units at the Company’s mining site in Pennsylvania, bringing its Stronghold, Pennsylvania, mining operation hashrate to 54,000 TH/s.