ISW announces it has acquired 400 state-of-the-art miners for its Stronghold, Pennsylvania, site bringing it to 54,000 TH/s. Minerset is a shareholder in ISW and has previously provided the company with hardware for their Georgia plant.
“As we have discussed in our recent communications, we are actively engaged in expansion in both our hosting and mining segments,” stated Alonzo Pierce, president and chairman of ISW Holdings. “This asset purchase agreement with Minerset represents a material broadening of our in-house mining capacity and will enable us to drive further top-line growth in the second half of 2021 as we ramp up toward the sizable jump lined up for next year, thanks to our recent partnership deal with Bitmain.”
The Agreement provides for the purchase of 150 BitMain S19 95TH/s miners and 250 Canaan AvalonMiner 1246 90TH/s miners. The equipment purchase adds $3.8 million in new physical assets to the Company’s balance sheet and will dramatically expand its total in-house mining capacity and hashrate once installed and activated.
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