LAS VEGAS, July 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 excited to announce the signing of a cryptocurrency mining hosting agreement (the “Agreement”) with Bitmain Technologies (“Bitmain”), the world’s leading producer of cryptocurrency mining hardware and a leading global cryptocurrency mining firm.
The Agreement will form the backbone of the Company’s Phase One launch of its cryptocurrency hosting and mining operation in Georgia. Further details related to this Agreement will be discussed in the near future.
Irene Gao, Antminer BD Director NCSA Region, Bitmain, said, "We are excited to have signed this new pioneering project to begin cooperation with ISW Holdings, a new milestone for the industry for creating hosting facilities overseas. The 200 MW facility is the first phase of our long-term partnership, utilizing renewable energy as its source. We expect to further expand this project into the future to support the development of the industry."
“Bitmain is probably the most recognizable name in the mining space, and we are excited that they will be a major piece of our success in Georgia,” remarked Alonzo Pierce, ISW Holdings president and chairman. “Once our 200 MW power tranche is fully utilized, we anticipate annualized revenues of over $200 million, but that will only close the first phase of our vision. We look forward to discussing our next phases in due course. If we are able to execute according to our full vision, we have the potential to drive exponential revenue growth ahead.”
Management notes that a recent crackdown in China has taken roughly 54% of the global hashrate offline. This resulted in the largest ever single day easing of bitcoin mining difficulty (~28%) through the bitcoin algorithm adjustment that took place on Saturday, July 3, 2021.
It has also resulted in increased demand for cryptocurrency hosting services outside of China as mining operations seek to relocate geographically.
Pierce added, “We are grateful for the opportunity to work closely with some of the best in the business. Bitmain has solidified itself as a trailblazer in the cryptocurrency mining industry, and we look forward to a bright future together in Georgia.”
About Bitmain
Bitmain Technologies is a multinational semiconductor company with state-of-the-art IC design capabilities. Bitmain offers products, including chips, servers, and cloud solutions for blockchain and artificial intelligence (AI) applications. Founded in 2013 and headquartered in Haidian District, Beijing, Bitmain has research and development centers in Hong Kong, Singapore, and the United States. According to Frost & Sullivan, Bitmain is among the world’s top 10 fabless IC designers and China’s second largest. Bitmain is focused on computing chips with a vision of realizing an even more beautiful digital world. It has design capabilities for different chip processes, including the state-of-the-art 5 nanometer process. In the blockchain mining area, Bitmain has shipped billions of ASICs, accounting for 75% of the global market. Being one of the world’s few companies with the capability to develop cloud-based AI chips, Bitmain has successfully released four generations of its AI chip. With advanced tensor acceleration for deep learning, Bitmain’s AI chips can be used for a wide range of applications such as facial recognition, automatic driving, smart cities, smart governance, smarter security, medical services and more.
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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