PALM BEACH, Florida, August 7, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
As blockchain technology continues to transform a growing number of industries, the cost-effective data processing is allowing data center developers to run more efficiently including increasing power use capabilities. Operations have exploded overseas including in China, but now the United States has an amazing opportunity to step up and start taking part in creating mega facilities, or data centers with high computational power for mining that supports the transactions on the blockchain, hopefully diluting China's position in the blockchain market and giving the U.S. a bigger piece. Crypto mining is the necessary computational process of approving cryptocurrency transactions to ensure the integrity of the network since there is no centralized authority overseeing the blockchain ledger network. The rise of blockchain technology, especially for use in crypto mining, means data centers and cloud management services have to adjust to the changing realities on the ground conducive to offering sustainable infrastructures for power. Active tech companies in the markets this week include Mining Power Group, Inc. (OTC: RCGR), Global Blockchain Technologies Corp (OTC: BLKCF) (CSE: BLOC), Pareteum Corp (NYSE: TEUM), MGT Capital Investments Inc. (OTC: MGTI), Big Blockchain Intelligence Group Inc. (OTC: BBKCF) (CSE: BIGG).
Mining Power Group, Inc. (OTCPK: RCGR) BREAKING NEWS : Mining Power Group announced today that it acquired the majority ownership interest of upstate New York technology company, Northway Mining, LLC, ("Northway") which offers highly specialized data center hosting services for thousands of cryptomining machines. Northway, which will become a subsidiary of the Company, presently has revenues from its existing clients and also from an ever-increasing number of new clients.
Included as part of the acquisition are real estate assets of substantial value from the purchase of the buildings in which Northway operates and a future building into which it will expand. In addition, included are 30 acres of surrounding flat land that will be used for future expansion of Northway as well as for the placement of industrial containers to house 1000's of additional mining machines for clients.
Under the terms of the transaction, Northway will maintain its current management and the Company will invest funds for the expansion of its facilities. Additional details of the pending transaction were not disclosed but will be included in an upcoming 8K filing.
Separately, the Company is in negotiations for a similar purchase of a majority interest in an unrelated privately-held company involved in the development of products for the cryptomining industry. Results of the negotiations will be announced at a later date.
Dror Svorai, President and CEO, stated, "This is something that we had been working on for a while and we are so glad to finally complete this transaction. We have not only entered the data center market… but we have done it in a big way hat allows us to immediately begin a rapid ramp up of revenues. Read this and more news for Mining Power Group at: http://www.marketnewsupdates.com/news/rcgr.html
[ Back To Wholesale VoIP Homepage ]