HOUSTON, April 05, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- BlockQuarry Corp, (OTC: BLQC) (“BlockQuarry” or the “Company”), formerly known as ISW Holdings, a Texas-based company with primary commercial-stage operations in cryptocurrency mine hosting and self-mining in the Southeast United States, is excited to provide the following update to its current and prospective shareholders as the Company scales cryptocurrency mining operations following the granting of its corporate name and stock symbol change by FINRA.
As recently announced, the Company has begun implementing its 200-megawatt (“MW”) project in Gaffney, South Carolina, deploying the first 20 MW next-gen POD 5 containers equipped with secure servers that can be mobilized and relocated at any time.
“Our December Q report isn’t out yet, but we are looking for annual 2021 revenues topping $1.06 million, which comes in well above our projections from midyear and represents nearly 1,900% growth over our 2020 topline,” stated Alonzo Pierce, president and chair of BlockQuarry. “While we suspected our December revenues to level out a bit as a consequence of moving our self-mining facility from Pennsylvania to our Southeastern U.S. location, we effectively minimized the impact of that transition and enter April with tremendous momentum.”
At present, and as covered in recent Company updates, BlockQuarry, Bit5ive, LLC (“Bit5ive”) and Bitmain Technologies Ltd. (“BITMAIN”) are managing and hosting partners in Gaffney. The partners delivered and deployed 20 MW of built-out mining infrastructure before the end of March 2022, as previously projected. The project has been scaling up mining activity on a daily basis and will soon represent the largest cryptocurrency mining operation in the region.
The Company plans to expand by an additional 80 MW in phase 2 to bring its total capacity to 100 MW, which management believes will continue on to eventually reach 200 MW driven by 56,000 new ASIC rigs.
About BlockQuarry
BlockQuarry focuses on cryptocurrency mine hosting and self-mining operations at a leased property located in Gaffney, South Carolina. BlockQuarry also maintains a fleet of digital/cryptocurrency mining equipment and infrastructure.
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.
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