ISW Holdings Inc. (OTCMKTS: ISWH) has signed a cryptocurrency mining hosting agreement with leading crypto mining firm and mining hardware producer Bitman Technologies.
Agreement to form the foundation for ISW Holdings’s hosting activity in Georgia
The Agreement will serve as the foundation for ISW Holdings’ cryptocurrency hosting and mining activity in Georgia for Phase One. Soon, more specifics about this Agreement will be explored. Bitman is one of the best crypto mining companies, and it has solidified its position in the industry.
Bitman Antminer BD Director NCSA Region Irene Gao 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.”
According to Bitman management, the recent clampdown in China has resulted in 54% of the global hashrate going offline. In addition, it led to the single most extensive day drop-in BTC mining through the adjustment in the BTC algorithm. Similarly, the crackdown has led to increased demand for crypto hosting outside China, with mining operations looking to relocate.
ISW expects $200 million in annualized revenue
ISW Holdings President and Chairman Alonzo Pierce said, “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. 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.”