BlockQuarry Provides Update on 2021 and 2022 Growth Projections Following FINRA-Approved Name and Symbol Change

Rhea-AI Summary

BlockQuarry Corp (OTC: BLQC) is expanding its cryptocurrency mining operations with a new 200-megawatt project in Gaffney, South Carolina. The company has successfully deployed the first 20 MW of next-gen POD 5 containers. Preliminary revenues for 2021 are projected to exceed $1.06 million, marking a significant growth of nearly 1,900% from 2020. BlockQuarry plans to increase capacity by an additional 80 MW, aiming for a total of 100 MW. Partners in the project include Bit5ive and Bitmain Technologies, contributing to the scaling of operations in the region.

Positive

• Projected 2021 revenues expected to exceed $1.06 million, reflecting 1,900% growth from 2020.
• Successful deployment of 20 MW of mining infrastructure, with plans to expand to 100 MW.
• Partnerships with Bit5ive and Bitmain Technologies, enhancing operational capabilities.

Negative

• Potential operational disruptions during the transition of self-mining facilities from Pennsylvania to South Carolina.

News Market Reaction – BLQC

+1.72%

1 alert

+1.72% News Effect

On the day this news was published, BLQC gained 1.72%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

HOUSTON, April 05, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- BlockQuarry Corp, (OTC: BLQC) (“BlockQuarry” or the “Company”), formerly known as ISW Holdings, a Texas-based company with primary commercial-stage operations in cryptocurrency mine hosting and self-mining in the Southeast United States, is excited to provide the following update to its current and prospective shareholders as the Company scales cryptocurrency mining operations following the granting of its corporate name and stock symbol change by FINRA.

As recently announced, the Company has begun implementing its 200-megawatt (“MW”) project in Gaffney, South Carolina, deploying the first 20 MW next-gen POD 5 containers equipped with secure servers that can be mobilized and relocated at any time.

“Our December Q report isn’t out yet, but we are looking for annual 2021 revenues topping $1.06 million, which comes in well above our projections from midyear and represents nearly 1,900% growth over our 2020 topline,” stated Alonzo Pierce, president and chair of BlockQuarry. “While we suspected our December revenues to level out a bit as a consequence of moving our self-mining facility from Pennsylvania to our Southeastern U.S. location, we effectively minimized the impact of that transition and enter April with tremendous momentum.”

At present, and as covered in recent Company updates, BlockQuarry, Bit5ive, LLC (“Bit5ive”) and Bitmain Technologies Ltd. (“BITMAIN”) are managing and hosting partners in Gaffney. The partners delivered and deployed 20 MW of built-out mining infrastructure before the end of March 2022, as previously projected. The project has been scaling up mining activity on a daily basis and will soon represent the largest cryptocurrency mining operation in the region.

The Company plans to expand by an additional 80 MW in phase 2 to bring its total capacity to 100 MW, which management believes will continue on to eventually reach 200 MW driven by 56,000 new ASIC rigs.

About BlockQuarry

BlockQuarry focuses on cryptocurrency mine hosting and self-mining operations at a leased property located in Gaffney, South Carolina. BlockQuarry also maintains a fleet of digital/cryptocurrency mining equipment and infrastructure.

Forward-Looking Statements
This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could," "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with OTC Markets.

Corporate Communications
IBN (InvestorBrandNetwork)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

Attachments

• BlockQuarry's next-gen POD 5
• Next-gen POD 5 container

FAQ

What is BlockQuarry Corp's current project status as of April 2022?

As of April 2022, BlockQuarry Corp is implementing a 200 MW cryptocurrency mining project in Gaffney, South Carolina, deploying 20 MW of next-gen POD 5 containers.

What are the projected revenues for BlockQuarry in 2021?

BlockQuarry projects its 2021 revenues to exceed $1.06 million, which represents a growth of nearly 1,900% compared to 2020.

How is BlockQuarry expanding its mining capacity?

BlockQuarry plans to expand its mining capacity by adding 80 MW in phase 2, bringing total capacity to 100 MW, with a target of reaching 200 MW eventually.

Which partners are involved in BlockQuarry's mining operations?

BlockQuarry is collaborating with Bit5ive and Bitmain Technologies in the management and hosting of its mining operations in Gaffney.