ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company,” transitioning to “BlockQuarry,” pending name change), a Nevada-based portfolio company with primary commercial-stage operations in cryptocurrency mining, is pleased to announce the completion of an asset purchase agreement (the “Agreement”) with Minerset, LLC, a Delaware limited liability company, providing for the purchase by ISW Holdings of 400 state-of-the-art cryptocurrency miners.
“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.
ISW/BlockQuarry Corp. is quickly becoming one of the largest mining and hosting providers in the digital currency space in North America as we seek to transform the financial markets of the future. Our complement of cutting-edge technologies has enhanced the bitcoin/cryptocurrency ecosystem, enabling our customers to take advantage of real-time cost savings. At the same time, our customers can feel confident that their digital transactions and assets are entirely secure. Our company utilizes a scalable blockchain infrastructure to convert unique identifiable assets (UIAs) into interchangeable digital assets such as Bitcoin and other fungible digital assets. We offer immediate liquidity in the form of fast, confidential transactions, as well as the issuance of assets in the traditional capital markets.