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Mitesco, Inc. (MITI) uses its news releases to outline the evolution of its business toward data center infrastructure, cloud computing and A.I.-driven applications. The company’s updates highlight the activities of its wholly owned Centcore unit, which operates a data center in Melbourne, Florida designed for high performance computing, secure data storage and managed services for data-intensive applications.
Recent news coverage describes Centcore’s expanded capabilities, including support for business automation, secure remote backup, enterprise computing workloads and infrastructure-related simulations involving GIS and LIDAR processing. Mitesco also reports that Centcore offers colocation, cloud hosting and managed IT services, with an emphasis on multi-layered physical and cyber security, redundant power and cooling, and sustainability features such as green energy sources.
Another recurring theme in Mitesco’s news is its relationship with Esri through the Esri Partner Network. The company explains that Centcore intends to implement Esri’s enterprise GIS application set to support mapping and spatial analytics for public and private sector organizations. News items also discuss Centcore’s pricing position, with management stating that its services are offered at a substantial cost savings compared with large public cloud platforms, based on the company’s own comparisons.
Mitesco’s updates further cover the activities of Vero Technology Ventures, its venture arm focused on cloud computing software solutions and A.I.-based applications such as a sales automation tool referred to as Robo or Robo Agent. Additional news topics include the formation and expansion of a non‑executive Advisory Board with expertise in data centers, cybersecurity, GIS and infrastructure software, as well as shareholder communications on restructuring progress and capital structure initiatives. Investors and observers can use this news stream to follow developments in Mitesco’s data center operations, software efforts and corporate strategy over time.
Mitesco's (OTC:MITI) subsidiary Centcore announces expanded capabilities at its Melbourne, Florida data center. The facility offers secure, high-performance computing solutions at costs 20% lower than major providers like AWS, Microsoft Azure, and Google Cloud. The center specializes in business automation, enterprise computing, and infrastructure applications.
The facility features advanced infrastructure including high-density server racks, redundant power systems, and eco-friendly cooling techniques. Key features include 24/7 surveillance, biometric access, robust firewall protection, and scalable solutions for businesses of all sizes. The center will host a virtual tour and Q&A session on January 6th, 2025.
Mitesco (OTC:MITI) reported a significant financial turnaround in Q3 2024, posting a $2.0 million net income compared to a $2.5 million loss in the previous year. The company achieved $.29 EPS on 6.3 million shares outstanding. Operating expenses decreased to $721,000 from $2.4 million year-over-year. The company has successfully restructured over $25 million in liabilities, including $13 million in senior securities and $12 million in debt converted to restricted common stock at $4.00 per share. The company's Centcore data center business is gaining traction, particularly among municipal entities and financial institutions. Additionally, Mitesco appointed Marty Valania, a digital marketing veteran, to its Advisory Board to support growth initiatives.
Mitesco (OTC:MITI) announced significant restructuring progress, having finalized over $8 million in debt and senior equity restructuring, aiming to clear all obligations by December 31, 2024. Debt holders have converted to common stock at $4 per share, with a new Series A Amortizing Preferred stock being created for accredited institutional investors. The company expanded its Advisory Board with two new professionals focusing on data center development and systems software. Through its Vero Technology Ventures subsidiary, the company is developing AI-based sales automation applications and evaluating cloud computing solutions. The Centcore data services division is progressing in market establishment.
Mitesco's Centcore Cloud Computing unit has partnered with Esri, the global leader in location intelligence, to offer advanced GIS software and geospatial support. Centcore plans to implement Esri's full Enterprise application set, including ArcGIS Server, ArcGIS Enterprise portal, ArcGIS Data Store, and ArcGIS Web Adaptor. This collaboration aims to provide GIS users with significant savings compared to in-house solutions or more expensive platforms like AWS, MS Azure, or Google Cloud.
The global GIS market, valued at $12.9 billion in 2023, is projected to grow significantly, potentially reaching $14.5-$35.5 billion by 2025-2032. Mitesco CEO Mack Leath sees this partnership as an opportunity to tap into the growing geospatial industry and improve services for clients and GIS partners. Tom Simon, owner of Synthos, , will support Centcore's efforts with his expertise in GIS services.
Mitesco Inc (OTC:MITI) has announced significant developments in its Centcore Cloud Computing business unit. The company has expanded its processing environment to include both Microsoft and Linux platforms, offering shared virtual tenancy and dedicated servers. Centcore is also quoting virtual remote backup, including video backup for facility monitoring.
The business unit has shown promising results, generating revenue in Q2 with four initial clients and receiving new client quotes weekly. Centcore offers a guaranteed cost advantage of at least 20% compared to major cloud providers like AWS, Azure, or Google Cloud. The company is focusing on developing a complete line of infrastructure-related applications, available on a pay-per-use basis.
Mitesco is pursuing partnerships with various software application providers, including ESRI, and plans to expand into civil engineering, mechanical design, and structural design applications. The company aims to offer a full suite of integrated applications for design and engineering through a 'desktop' approach, eliminating the need for workstation hardware or licenses.
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