Fortress Technologies Announces Purchase of 180 New Mining Machines

TORONTO, Oct. 18, 2021 (GLOBE NEWSWIRE) -- Fortress Technologies Inc. (TSX-V: FORT) (the “Company” or “Fortress”) is pleased to announce the purchase of 180 new Whatsminer M30S bitcoin mining machines. These machines will operate alongside Fortress’s existing machines at the Company’s Washington site and are expected to be installed within the next 30 days.

Once fully deployed, the new machines are expected to increase Fortress’s total hash rate at the Washington site to 33 PH/s. The purchase also increases Fortress’s total contracted hash rate to 191 PH/s.

About Fortress Technologies

Fortress Technologies Inc. (TSX-V: FORT) is a Bitcoin company that develops and operates world-class bitcoin mining infrastructure.

Fortress believes sound money and cheap, abundant energy are the fundamental ingredients to human progress, and is committed to advancing both by working closely with the energy sector to secure the Bitcoin network. Today, Fortress owns 72 PH/s across sites in North Dakota and Washington, with an additional 120 PH/s expected to be delivered by Q4 2021. Fortress is focused on expanding its portfolio of hash rate through a diversified approach to site selection and operations, utilizing multiple energy sources across various jurisdictions.

For further information, please contact:

Sean Ty
Chief Financial Officer
604 477 9997
[e-mail] 

Cautionary Statement

Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company, are forward-looking information. Other forward-looking information includes but is not limited to information concerning: the intentions and future actions of senior management, the intentions, plans and future actions of the Company, as well as the Company’ ability to successfully mine digital currency; revenue increasing as currently anticipated; the ability to profitably liquidate current and future digital currency inventory; volatility of network difficulty and, digital currency prices and the resulting significant negative impact on the Company’s operations; the construction and operation of expanded blockchain infrastructure as currently planned; and the regulatory environment of cryptocurrency in applicable jurisdictions.