VANCOUVER, British Columbia, March 06, 2019 (GLOBE NEWSWIRE) -- (TSX-V: FORT) -- Fortress Blockchain Corp. (“Fortress Blockchain” or the “Company”) today announces it has exited the crypto-currency mining business. Effective March 5, 2019, the Company deactivated all crypto-currency mining hardware located at the Company’s Grant County facility.
After a careful strategic review, management has determined that the marginal profitability of the business and the risk of further decline, along with increased regulatory costs and oversight, does not justify continued crypto-currency mining operations. The Company is currently assessing the need for asset impairment recognition, and the optimal strategy to realize value from the crypto-mining operations by divestiture as a going concern or asset sale.