CurrencyWorks Announces Zero-Cost Energy Crypto Mining Platform
Los Angeles CA, May 05, 2021 (GLOBE NEWSWIRE) -- CurrencyWorks Inc. (“CurrencyWorks” or the “Company”), (CSE: CWRK and OTCQB: CWRK) a financial technology blockchain pioneer, NFT, digital currency,
and payment platform provider, today is pleased to announce the initiative and advancement of its zero-cost energy crypto mining platform.
CurrencyWorks has designed and is implementing its Zer00 crypto mining platform as a proprietary multi-step integrated platform utilizing a thermal treatment (not burning) of waste to generate energy which will power CurrencyWorks’ Zer00 crypto mining platform, www.currencyworks.io/zer00. Under an exclusive arrangement with Fogdog Energy Solutions Inc. (“Fogdog”) which includes a US$400,000 loan to Fogdog to be used to construct and implement the electricity power generation thermal unit powered by MSW (municipal solid water) to be supplied by a municipality in Canada.
The initial scalable unit will process MSW and generate enough power to run up to 200 cryptocurrency mining machines. The energy generated is environmentally friendly, and the system will be self-sustainable. Additionally, this technology reduces MSW and other waste currently filling landfills, a prevalent cause of greenhouse gas emissions (GHG) containing methane that is more harmful than CO2. The Company intends on purchasing up to an initial 200 cryptocurrency mining machines for its Zer00 crypto mining platform.
According to recent research by Facts & Factors, the global Cryptocurrency Market was estimated at USD $792.53 Million in 2019 and may reach USD $5,190.62 Million by 2026. The global Cryptocurrency Market anticipates growing at a compound annual growth rate (CAGR) of 30% from 2019 to 2026.
Today, investors want to understand where their Bitcoin was mined, when it was mined, and the coin’s provenance, making clean energy mining more critical now more than ever before.
“Crypto mining can be incredibly profitable if you can eliminate or minimize the energy costs in the mining process, while at the same time through these policies and best practices reduce the need for landfills and GHG, providing cleaner air and water, conservation of local biodiversity, sustainable energy development and green jobs,” said Cameron Chell, Chairman of CurrencyWorks. “CurrencyWorks Zer00 Crypto operations will help to develop a sustainable way of minimizing MSW and using that energy to mine for crypto.”