ISW Holdings (name changed to BlockQuarry) of which Minerset is shareholder, announced in a press release that it will have its best quarter yet, as its mining operation reach peak efficiency.
“We will unquestionably log our best quarter in Company history – by a wide margin – when the books close at the end of the month, but that will likely be dwarfed by what rolls in over coming quarters. We have made a few final adjustments and updates that are being implemented right now that will take us to full capacity in terms of achievable hashrate in Pennsylvania. That will bring us to a topline run-rate of approximately $1.5 million per month, which may double again beginning midway through the fourth quarter as we begin to ramp up hosting revenues.”
Alonzo Pierce, ISWH CEO.
Mining is fully underway in Pennsylvania, and nearing full capacity on hashrate. Final adjustments and updates are being implemented into month end to push performance up to peak potential, at which time the Company’s PA mining operations will be producing mining revenues that will contribute to an overall monthly revenue run rate of $1.5 million at current cryptocurrency pricing.
In addition, the Company anticipates a breakout record quarter for the three months ending September 30, 2021. However, the fourth quarter should be a much more significant breakout in financial terms given that it will be the first quarter featuring a full three months of mining at peak capacity as well as the start of revenues from hosting operations.
ISW Holdings also confirmed it is on schedule and the Company believes it will meet its approximate target for deploying the first 20 megawatts of power at the Southeastern US cryptocurrency mining hosting site around the end of October.
Full press release here
