North America to Become Cryptomining Central Now That China Miners Have Gone Dark - Seite 2

Lower hashrate, effectively less competition, equates to higher revenue and profits for miners. Ultimately, the hashrate will continue to eke back upward as, much like the digital ledger tracking Bitcoin transactions, the marketplace becomes more decentralized. Estimates are that Beijing's crackdown will slash the country's mining capacity by 90% with North America expected to become the dominant crypto mining market.

ISW Holdings Inc. (OTC: ISWH) is a diversified portfolio company specialized in strategic brand development, early-growth facilitation and brand identity. The Nevada-based company has a healthcare division focused on telehealth and a partnership with Bengala Technologies for innovations in the supply chain management space,. In addition, last year ISWH teamed up with Bit5ive LLC on a mission to mine cryptocurrency with zero carbon footprint. With consideration for the significant shift in mining activity that is underway, the joint venture between ISWH and Bit5ive couldn't have been timed better.

Bit5ive, North America's largest provider of collective management services and mining equipment, is an official distribution partner of Bitmain, the world's top provider of cryptocurrency mining equipment. Further, Bit5ive produces POD5 mining centers and Power Skid 2.5, which together represent the most efficient cryptocurrency mining infrastructure solution available on the market today.

$5.8 Million in Revenue

The JV with Bit5ive didn't take long to produce tangible results. Forged in May 2020, the partnership produced ISWH's first POD5 by December. The POD5 features a fleet of Bitmain Antminer s17s, recognized as some of the more powerful cryptomining machines today, although they're not without some technical challenges, according to Bit5ive founder Robert Collazo. Currently, hashing is ready to begin any day.

In May, Alonzo Pierce, president and chair of ISW Holdings, commented that internal analysis showed that the company can turn a profit at the Pennsylvania facility with Bitcoin pricing "above the low $20k's." Even with the recent correction as market participants fret over Beijing's negativity towards crypto, Bitcoin is still more than $32,000 per coin.

The hashrate at the project has been increased to 54,000 Th/s (terahashes per second). The POD5 is expected to generate more than $500,000 per month in revenue, or approximately $5.8 million annually. As hashrate is maximized, Pierce forecasts a reduction in proportional direct costs associated with mining operations, spearheaded by the expertise of the Bit5ive team to make optimization tweaks.