Post by
topgun on Jun 01, 2021 2:08pm
Like Shania Twain song-Up, up, up, can only go up from here.
This is a really good report, the next should be even better :-TORONTO, May 31, 2021 (GLOBE NEWSWIRE) -- Fortress Technologies Inc. (TSX-V: FORT) (the "Company" or "Fortress") announces the results of its operations for the first quarter and three months period ended March 31, 2021 ("Q1 2021"). The first quarter of the fiscal year constituted a strong start for the Company, with a net income of approximately $3,700,000 which translates to an earnings per share of $0.05. This period also marked the beginning of a new venture with Great American Mining LLC ("GAM"). The Company realizes the importance of environmental, social and governance ("ESG") initiatives. As such, the Company has entered into a new partnership with GAM, which specializes in developing and operating environmentally sustainable Bitcoin mining containers which convert vented/flared natural gas into electricity, which reduces greenhouse gas emissions. The Company has commissioned and paid for 12 containers in its strategic venture with GAM, which are currently under production, and these will operate 2,160 new generation ASIC miners. The first of twelve containers has been built and is currently being populated with 180 MicroBT ASIC miners, and is expected to be deployed and hashing in the gas fields in the first week of June 2021. This will bring the Company's total operating Bitcoin mining hashrate to approximately 31 PH/s. As of May 31, 2021, after the acquisition of the 12 GAM containers and the 180 MicroBT ASIC miners, the Company holds fiat and digital currencies of approximately $21,900,000, including 56.2 Bitco