LAS VEGAS, June 22, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a global brand management holdings company with commercial operations in telehealth and renewable energy cryptocurrency mining, is pleased to provide, along with Bit5ive, LLC (“Bit5ive”), an in-depth update on the Company’s progress as it continues to expand and optimize its cryptocurrency mining operations.
“ISW Holdings operates as a diversified holdings company with a current market cap of approximately $25 million, driven largely by the Company’s growing expertise in acquiring, launching, hosting and operating assets in the cryptocurrency and telehealth sectors,” noted ISW Holdings President and Chairman Alonzo Pierce. “Our partnership with Bit5ive has provided us with a state-of-the-art POD5 infrastructure and the ability to develop efficient and expandable mining operations. We look forward to further expansion and optimization in this domain over the coming months.”
The Company currently operates its mining equipment adjacent to powerful and efficient energy resources in Kennerdell, Pennsylvania.
Pierce added, “We continue to make huge progress, recently increasing our hashrate to 72,000 Th/s, driving an expected $484,000 in monthly revenue – or over $5.8 million annually – through the Bitmain Antminer s17 fleet we already have online and working. As we continue to maximize our hashrate, we should see a reduction in proportional direct costs associated with mining operations. Naturally, we continue to lean on Robert and Bit5ive for expertise and support in translating our investment in this process into growing value.”
Bit5ive is North America’s largest provider of collective management services and mining equipment, along with ISWH, offering a turnkey solution for delivering cost-efficient and reliable hosting, distribution of mining equipment, complete facility management and mining pool operations in projects to be announced.
Robert Colazzo of Bit5ive commented, “Due to our strong partnership, ISW Holdings will continue to benefit from 24/7 technician support to handle monitoring, troubleshooting, upgrades, firmware management and more. Bit5ive is excited to have the opportunity to provide our wealth of experience in managing Bitcoin mining farms across the U.S. and internationally, and we look forward to achieving great success together.”
ISW Holdings and Bit5ive also look forward to new emerging growth opportunities related to acquisitions and potential partnerships, as well as opportunities that may stem from participation at the Mining Disrupt Expo and Conference in Miami on July 20-21, where the Company will have the privilege of getting to know many other mining teams, projects and companies in the cryptocurrency space.
About ISW Holdings
ISW Holdings, Inc. (ISWH), based in Nevada, is a diversified portfolio company comprised of essential business lines that serve consumer product demands. Our expertise lies in strategic brand development, early growth facilitation, as well as brand identity through our proprietary procurement process. Together with our partners, we seek to provide a structure that meets large scalability demands, as well as anticipated marketplace needs. We are able to meet these needs through a variety of strategic innovative processes. ISWH is creating and managing brands across a spectrum of disruptive industries. It maneuvers its proprietary companies through critical stages of market development, which includes conceptualization, go-to-market strategies, engineering, product integration and distribution efficiency. The Company has also partnered with a well-known software development and consulting company, Bengala Technologies LLC, which is developing significant enhancements in the supply chain management space, and the partnership has a vitally needed patent now pending.
The Company’s cryptocurrency mining segment, established in partnership with industry leader Bit5ive LLC, is driven by a mission to mine cryptocurrency with a zero-carbon footprint.
For more information, visit www.iswholdings.com.
Forward Looking Statements
This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could," "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with OTC Markets (www.otcmarkets.com).
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