|
BlockQuarry Corp. (BLQC) through its in-house initiatives and strategic partnerships, has invested in growing operations
targeting the telehealth and cryptocurrency mining industries.
The company specializes in strategic brand development and early growth facilitation. Management maneuvers its proprietary companies through critical stages of market development, including conceptualization, go-to-market strategies, engineering, product integration and distribution efficiency.
Mission
The company’s core mission is to enhance these sectors by implementing innovative services and products that are ready to meet the demands of a changing world. To that end, BlockQuarry leverages its strategic expertise, resources and innovative software to establish market-leading companies and partnerships, thereby ensuring success in their chosen industries.
Cryptocurrency Mining
The start of 2021 saw a massive resurgence in interest surrounding bitcoin and cryptocurrency mining. In mid-February, bitcoin prices hit an all-time high of greater than $57,000, and heightened demand for cryptocurrency mining power has played a key role in exacerbating a global shortage of semiconductors and computer components.
With a foothold in the cryptocurrency mining space, BlockQuarry has placed significant focus on expanding its position and capitalizing on this momentum. Recent highlights include:
- February 9, 2021: The company announced that its revolutionary Pod5 Cryptocurrency Mining Pod will be powered up into full operational
launch at the Bit5ive renewable energy cryptocurrency mining facility in Pennsylvania on February 12, 2021.
- February 11, 2021: The company announced that it is in negotiations to purchase a large number of miners (between 300 and 900) in
preparation for its coming Phase 3 expansion in mining volume.
- February 23, 2021: The company announced its entry into a comprehensive Hosting and Maintenance Agreement prior to going online with its
new ASIC s17 miners.
- March 2, 2021: The company announced that it has successfully tripled its active cryptocurrency mining fleet with the addition of two new
POD5IVE datacenters.
“As we continue to bring our miners online, we want our shareholders to be able to track the expansion and profitability of the company’s mining activity given the sharp rising trend in bitcoin prices,” Alonzo Pierce, President and Chairman of BlockQuarry, stated in a news release. “It currently costs about $11K in computing power to mine a single
bitcoin. Bitcoin is pricing at over five times that level, making this is an exceptional ROI opportunity, and our responsibility to our shareholders is clear: continue to invest, expand and execute.”
Investment Considerations
- BlockQuarry Corp. specializes in strategic brand development and early growth facilitation, with a focus on the telehealth and cryptocurrency mining industries.
- The company has made significant progress toward expanding its cryptocurrency mining capacity in 2021, tripling its mining fleet in early March.
- BlockQuarry operates a joint venture with Bit5ive aimed at innovating the infrastructure needed to run profitable and efficient crypto mining projects.
- Through a partnership with Proceso LLC, the company is working to create high-density processing and mobile data centers powered by renewable energy.
- The cryptocurrency market was valued at $1.03 billion by 2019, and it’s projected to reach $1.40 billion in 2024, growing at a CAGR of 6.18%, according to MarketsandMarkets.
Additional Resources
|
|
RECENT COVERAGE
InvestorNewsBreaks - BlockQuarry Corp. (BLQC) Reports on Company Change, Growth
April 5, 2022 8:30 AM
BlockQuarry (OTC: BLQC),a Texas-based company with primary commercial-stage operations in cryptocurrency mine hosting and self-mining in the southeast United States, is scaling its cryptocurrency mining operations after changing its corporate name and stock symbol; both moves have been approved by FINRA. Most recently, the company announced that it has begun implementing its
200-megawatt (“MW”) project in Gaffney, South Carolina, including deploying the first 20 MW next-gen POD 5 containers. Those containers feature secure servers that can be mobilized and relocated at any time. In addition, the company noted that the project has been scaling up mining activity daily basis and is projected to be the largest cryptocurrency mining operation in the region. Expansion plans include adding an additional 80 MW in the next phase of growth, bringing total
capacity to 100 MW; the company anticipates eventually reaching 200 MW driven by 56,000 new ASIC rigs. “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,” said BlockQuarry president and chair Alonzo Pierce in the press release. “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.”
|
