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Allied Energy Corporation provides update on their Bitcoin Mining Joint-Venture Project

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Allied Energy , in partnership with Enegix Global, has made significant progress in their Bitcoin mining project in Brenham, Texas. The construction has started, with a focus on optimizing power production using natural gas. The upcoming beta test will fine-tune operations and address potential challenges, paving the way for future efficiency. CEO George Monteith is confident in the partnership's value creation for shareholders.
Allied Energy, in collaborazione con Enegix Global, ha fatto notevoli progressi nel loro progetto di mining di Bitcoin a Brenham, Texas. La costruzione è iniziata, con un'attenzione particolare all'ottimizzazione della produzione di energia utilizzando gas naturale. Il prossimo test beta servirà a perfezionare le operazioni e a gestire le sfide potenziali, spianando la strada per un futuro più efficiente. Il CEO George Monteith è fiducioso nella capacità della partnership di creare valore per gli azionisti.
Allied Energy, en asociación con Enegix Global, ha logrado avances significativos en su proyecto de minería de Bitcoin en Brenham, Texas. La construcción ha comenzado, enfocándose en optimizar la producción de energía mediante gas natural. La próxima prueba beta ajustará las operaciones y abordará desafíos potenciales, allanando el camino para una mayor eficiencia en el futuro. El CEO George Monteith confía en la creación de valor para los accionistas a través de la asociación.
Allied Energy와 Enegix Global이 텍사스 주 Brenham에서의 비트코인 채굴 프로젝트에서 상당한 진전을 이루었습니다. 천연가스를 사용하여 전력 생산을 최적화하는 데 중점을 둔 건설이 시작되었습니다. 다가오는 베타 테스트는 운영을 미세 조정하고 잠재적 도전과제를 해결하여 미래의 효율성을 위한 길을 닦을 것입니다. CEO 조지 몬테이스는 이 파트너십이 주주들에게 가치를 창출할 것이라고 확신하고 있습니다.
Allied Energy, en partenariat avec Enegix Global, a réalisé des progrès significatifs dans leur projet d'exploitation de Bitcoin à Brenham, au Texas. La construction a commencé, avec un accent mis sur l'optimisation de la production d'énergie en utilisant du gaz naturel. Le prochain test bêta affinera les opérations et abordera les défis potentiels, préparant le terrain pour une efficacité future. Le PDG George Monteith est confiant dans la création de valeur pour les actionnaires par le biais de ce partenariat.
Allied Energy hat in Partnerschaft mit Enegix Global bedeutende Fortschritte in ihrem Bitcoin-Mining-Projekt in Brenham, Texas, gemacht. Der Bau hat begonnen, wobei der Fokus auf der Optimierung der Stromerzeugung unter Verwendung von Erdgas liegt. Der kommende Beta-Test wird die Abläufe verfeinern und potenzielle Herausforderungen angehen, um den Weg für zukünftige Effizienz zu ebnen. CEO George Monteith ist zuversichtlich, dass die Partnerschaft einen Mehrwert für die Aktionäre schaffen wird.
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CARROLLTON, Texas, April 18, 2024 (GLOBE NEWSWIRE) -- Allied Energy Corporation (OTC: AGYP), an innovative oil and gas production company specializing in leasing and optimization of hydrocarbon reserves within the prolific United States energy landscape, is pleased to provide the following update regarding their Bitcoin mining project with joint venture partner, Enegix Global.

Allied Energy Corporation and Enegix Global have reached a significant milestone in their Bitcoin mining project, with construction commencing at their Brenham, Texas location on April 2nd, 2024. The completion of the pad and preparation for equipment installation marks a crucial step forward.

The upcoming beta test, scheduled to run for 60-90 days, will serve as a crucial phase in fine-tuning operations. By using natural gas to power generators, the team aims to optimize electrical power production for mining operations. This test phase will allow for the identification and resolution of potential challenges before scaling up operations.

Key areas of focus during the beta test include testing generator performance at various power settings, establishing maintenance schedules to minimize downtime, and adjusting carburetor settings for gas quality. Insights gained from this testing phase will inform future operations and optimize efficiency.

In conjunction with the arrival of the generator, additional tasks such as laying pipeline from the gas well, installation of a separator and meter run, and running a water line from the water well to the container will be completed.

George Monteith, CEO of Allied Energy, expresses confidence in the partnership with Enegix Global and anticipates significant value creation for shareholders in the near future. This project represents a strategic move towards harnessing the potential of Bitcoin mining within the energy sector.

The Company invites any and all interested parties to check back regularly at https://alliedengycorp.com/ and the corporate Twitter Account https://twitter.com/AlliedEnergyCo1.

About AGYP:

Allied Energy Corp. is an energy development and production company acquiring oil & gas reserves in some of the most prolific hydrocarbon bearing regions of the United States. The Company specializes in the business of reworking & re-completing 'existing' oil & gas wells located in the thousands of mature oil & gas producing fields across the United States. The Company applies its knowledge, experience, and effective well-remediation technologies to achieve higher production volumes, longer well life, and more efficient recovery of the proven and available oil and gas reserves in the fields/projects in which it has acquired an ownership interest. The Company will utilize updated technologies such as hydraulic fracturing ("fracking"), drilling of lateral ("horizontal") legs in productive zones, and utilizing new cased hole electric logging to locate bypassed pays, all to enhance daily rates and oil & gas recoveries. By acquiring interests in a growing number of selected projects in various regions, Allied Energy Corp. is diversifying its exposure and effectively minimizing risk as it pursues corporate growth, top line & bottom-line revenues to the benefit of all stakeholders. There are proven, recoverable reserves contained in the many aging oil & gas fields that have been bypassed by companies moving away from these fields in search of deeper, more plentiful, but more costly reserves. The Company plans to concentrate on bypassed oil and gas as there is less competition and, as mentioned above, the costs are considerably less. Additionally, the company will acquire interests in marginal wells that can be acquired at minimal cost, of which there are 420,000 wells in the U.S. Quoting Barry Russell, President of the Independent Petroleum Association of America ("IPAA") - "With approximately 20 percent of American oil production and 10 percent of American natural gas production coming from marginal wells, they are America's true strategic petroleum reserve."

Safe Harbor Statement:
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release, including such forward-looking statements.

Contact:

Allied Energy Corporation

Allied Energy Corporation Phone: 972-632-2393
Email: info@alliedengycorp.com
Twitter: https://twitter.com/AlliedEnergyCo1


FAQ

What update did Allied Energy provide?

Allied Energy provided an update on their Bitcoin mining joint-venture project with Enegix Global.

When did construction start at the Brenham, Texas location?

Construction commenced at the Brenham, Texas location on April 2nd, 2024.

What is the focus of the upcoming beta test?

The upcoming beta test will focus on fine-tuning operations and optimizing power production using natural gas for mining.

Who expressed confidence in the partnership with Enegix Global?

George Monteith, the CEO of Allied Energy, expressed confidence in the partnership with Enegix Global.

How can interested parties stay updated on the project?

Interested parties can check back regularly at https://alliedengycorp.com/ and the corporate Twitter Account https://twitter.com/AlliedEnergyCo1.

ALLIED ENERGY CORP

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