NetworkNewsWire
Editorial Coverage: Industry experts predict a surging
acceptance of blockchain technologies in the next three years, and
the global cryptocurrency mining market is forecast to reach almost
$40 billion.
With a growing number of organizations around the world adopting
cryptocurrency and blockchain technologies, smart companies
operating within the space are working to strengthen their
positions in the burgeoning industry. International Spirits
& Wellness Holdings Inc. (“ISW Holdings”)
(OTC: ISWH) (ISWH
Profile) is partnering with Bit5ive
LLC, a global leader in cryptocurrency mining and innovative
turnkey mining solutions. ISW Holdings plans to combine this joint
venture with its recent renewable energy project to offer crypto
miners the essential energy, hardware and infrastructure necessary
to make the most of their mining efforts. Other savvy companies are
making their mark in the cryptocurrency and blockchain sectors as
well. Earlier this month, HIVE Blockchain
Technologies Ltd. (OTC: HVBTF) announced a
second purchase of second-generation miners, designed to increase
the company’s Bitcoin hash rate and mining efficiency. Marathon Patent
Group Inc. (NASDAQ: MARA) is following the
same trajectory with its recent purchase of 500 additional
next-generation S19 PRO ASIC MINERS. Other companies excelling in
the blockchain space include tZERO, a majority-owned subsidiary of
Overstock
(NASDAQ: OSTK), which was just named best
blockchain solution of the year by FTF News Technology Innovation
Awards 2020, and tech giant International
Business Machines Corporation (NYSE: IBM),
which has filed a multitude of patents based on blockchain
technology.
Click here to view
the custom infographic of the International Spirits &
Wellness Holdings Inc. (“ISW Holdings”) (OTC:
ISWH) editorial.
Crypto’s Upward Trend
An internet-based medium of exchange, cryptocurrency is a
digital asset that records individual coin ownership in a digital
ledger. Bitcoin is generally recognized as the first modern
cryptocurrency. The innovative currency was first outlined in
a 2008 white paper published by Satoshi Nakamoto, a pseudonymous
person or group. Bitcoin uses blockchain technology, or a
chain of public, secure and decentralized records that contain the
history of all transactions from the first block on
the Bitcoin blockchain to the most recent.
In early 2010, Bitcoin had a value of less than a penny; barely
a decade later, each Bitcoin is valued at around $9,000. The
currency generally increases in value when the production of new
Bitcoins, which are introduced into the market by miners who are
processing blocks of transactions, slows down, often resulting in
demand for the coin outpacing supply. Although the asset’s
journey has been volatile, with values rising and dropping at
tremendous rates, the general upward trend is unmistakable as it —
and other cryptocurrencies — become more widely accepted and used
around the world.
“Sixty percent of CIOs in the Gartner 2019 CIO Agenda Survey
said that they expected some level of adoption of blockchain
technologies in the next three years,” said David Furlonger, distinguished research VP at
Gartner. That kind of forecast certainly paints a promising future
for cryptocurrencies in general and Bitcoin specifically.
Poised for Growth
Recognizing the powerful potential in the cryptocurrency space,
ISW Holdings (OTC: ISWH)
(ISWH
Profile) is intent on
capitalizing on the crypto mining possibilities by leveraging its
new joint venture with Bit5ive. A holding
company, ISW Holdings and its partners focus on the common goal of
brand communication from developers, consultants, design engineers,
contractors, subcontractors, equipment providers, installation
providers, end users and service providers. Bit5ive is a leader in
cryptocurrency mining data centers with several U.S. projects
currently in development.
Intent on making the most of its foray into the promising
sector, ISWH researched the crypto mining space and identified a
possible partnership with an industry leader that enjoyed a
substantial industry footprint. After significant due diligence and
several meetings, the two entities recognized an ideal opportunity
to collaborate. This new venture represents that commitment that
ISWH, in conjunction with Bit5ive, has to build power
cryptocurrency modular data centers that support all facets of
cryptocurrency mining.
“We are incredibly excited to expand our current portfolio and
move into what we believe is a sector poised for strong
technological and financial growth,” stated ISW Holdings president
and chairman Alonzo Pierce. “This new joint-venture agreement
enables us to collaborate with the experienced team at Bit5ive to
innovate the infrastructure needed to run profitable, efficient
crypto mining projects, and to take advantage of the incredible
growth projected for the crypto market.”
Ideal Partnerships Drive Profitability
According to a report from Coherent Market Insights, the global
cryptocurrency mining market was valued at $610 million in 2016 and
is expected to exceed $38 billion by
2025, growing at an eye-popping 29.7% compound annual growth
rate over the forecast period. One Bitcoin is mined every 10
minutes, which equates to more than $50,000 an hour in new Bitcoin.
Crypto mining has turned into a thriving industry.
With the significant energy demands of crypto mining in mind,
ISWH has also partnered with Proceso LLC to create high-density
processing and mobile data centers powered by renewable energy.
Proceso intends to offer a variety of low-cost services, including
hosting and co-location services, to cryptocurrency mining clients.
This plan is designed to reduce power consumption while creating
secure crypto mining data centers across the United States.
ISWH’s partnerships with Bit5ive and Proceso point toward a
common objective of driving ISWH’s crypto mining and renewable
energy-portfolio enterprises to new levels of profitability. In
addition to crypto mining and renewable energy, ISWH’s diverse
portfolio includes home health care for the chronically ill,
wellness and restoration, the adult beverage industry, and
early-stage operations in supply chain and logistics management end
users.
“We have achieved considerable growth and hit several major
milestones in the last three years, consistently growing our staff
and honing our expertise along the way,” said Bit5ive
CEO Robert Collazo. “It is important that we continue
innovating and be over par with industry demand from every
aspect.”
Bit5ive is the producer and distributor of the most efficient
and successful infrastructure for crypto mining hardware, POD5 and
Power Skid 2.5. Bit5ive is also an official distribution partner of
Bitmain, the industry-leading fabless manufacturer of computing
chips and distributor of Antminers to more than 30 countries in
Latin America, Central America and the Caribbean. Bit5ive is
quickly becoming one of the largest U.S.-based companies in the
cryptocurrency mining and bitcoin farm industry, and the joint
venture with ISW Holdings looks to be beneficial for both
companies.
The ISW Holdings team determined early on to create a company
with diverse business initiatives in multiple sectors. That
long-term vision led to entry into an explosive market opportunity.
The cryptocurrency markets appear to be here to stay, growing
bigger and stronger over time. This imminent growth positions
crypto mining companies as attractive options for investors looking
to tap into the technologies of today — and tomorrow.
Bright Forecast for Crypto
HIVE Blockchain Technologies Ltd. (TSX.V:HIVE)
(OTCQX:HVBTF) (FSE:HBF) continues to scale up its next-generation crypto mining power at
its recently acquired green energy-powered bitcoin mining operation
in Quebec. HIVE’s recent purchase of 1,090 Bitmain Antminer T17+
SHA 256 mining machines will be combined with the company’s recent
installation of 750 Bitmain S17+ Antminer machines. With these
additions, HIVE estimates its aggregate operating hash rate,
specifically from next-generation mining equipment at its Quebec
facility, will be approximately 118 PH/s (petahash) by the end of
this month. Working to build a bridge from the blockchain sector to
traditional capital markets around the world, HIVE owns
state-of-the-art digital currency mining facilities in Canada,
Sweden, and Iceland; these facilities continuously produce newly
minted digital currencies such as Bitcoin and Ethereum.
Marathon Patent Group Inc.’s (NASDAQ:
MARA) most recent purchase of 500 new miners is expected to generate 55 PH/s of hashing power.
When all existing and new miners are received and deployed,
the company estimates an increase in operating
hash rate to approximately 240 PH/s. “In the past month,
we have heavily invested in our business through the purchase of
these 2,360 next generation miners,” said Marathon CEO Merrick
Okamoto. “We anticipate that, upon full installation, we could
experience at least a 500% increase in our aggregate hash rate as
compared to our production rates before these new miners were
acquired and installed.”
Overstock (NASDAQ: OSTK) is a committed member
of the blockchain community. Its majority-owned subsidiary tZERO
Group Inc. was honored by the 2020 FTF News Technology Innovation
Awards, winning the top
spot in the Best Blockchain Solution of the Year category. This
award honors the breakthrough systems that will advance the
operations of the securities industry the most. “We are proud to be
recognized as Best Blockchain Solution of the Year,” said tZERO
CEO Saum Noursalehi. “And we look forward to continuing to
advance the integration of DLT to advance capital markets.” tZERO
is a technology firm founded with the goal of utilizing distributed
ledger technology (DLT) to revolutionize Wall Street so that it is
more efficient, accessible and transparent.
International Business Machines Corporation (NYSE:
IBM) has been leading the way in blockchain adoption since
2014. The company has established its own blockchain technology
solution, and IBM Blockchain Technology vice president Jerry Cuomo
recently testified during a
congressional hearing. “The potential uses for blockchain are
far broader than cryptocurrency,” Cuomo said. “IBM has engaged in
more than 400 blockchain projects across supply
chain, government, healthcare,
transportation, insurance,
chemicals, petroleum and more. And from those experiences, IBM has
developed three key benefits: we believe that blockchain is a
transformative technology that could radically change how
businesses and government interact, blockchain must be open to
encourage broad adoption, innovation and interoperability and
blockchain is ready for business and government use today.”
As increasing numbers of companies are attracted to the
potential cryptocurrency boom, ISWH and its partner companies
appear to be particularly well positioned to benefit from the
industry’s continued evolution.
For more information, please visit ISW Holdings
(OTC: ISWH).
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