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Sysorex (OTCQB: SYSX) announced its subsidiary, TTM Digital Assets & Technologies, mined a total of 386 ETH (valued at $1,370,267) from May 1 to May 19, averaging 20.3 ETH per day. This follows a consistent mining performance in April, where 572 ETH were mined at a value of $1,266,563. Despite the volatility in the cryptocurrency market, Ether's price has risen over 15% since Sysorex's merger on April 14. The ongoing strength in the ETH market, combined with TTM's stable GPU-based mining platform, positions the company positively as it retains the SYSX ticker symbol.
Sysorex (OTCQB: SYSX) has provided a business update following its reverse triangular merger with TTM Digital Assets & Technologies, a public Ethereum mining company. Sysorex operates two primary businesses: Sysorex Government Services, which contracts with the U.S. Government, and TTM, focusing on Ethereum mining. Since April 1, 2021, TTM mined 572 ETH valued at approximately $1.5 million, while SGS reported revenue of over $5.2 million. Sysorex emphasizes the profitability of TTM, with historical margins exceeding 75% and plans for further expansion.
Sysorex (OTCQB: SYSX) announced strategies to leverage Ethereum blockchain technology through its subsidiary, Sysorex Government Services (SGS). Following its merger with TTM Digital Assets, SGS aims to enhance U.S. Government systems and seek blockchain contracts across various sectors. The U.S. Government is increasingly adopting blockchain, with potential savings highlighted, such as $30 million by the Department of Health and Human Services. SGS is an approved GSA contractor, exploring impactful applications in transactions, healthcare, and more.
Sysorex (OTCQB: SYSX) completed a reverse triangular merger with TTM Digital Assets & Technologies, Inc., establishing itself as the largest U.S. publicly traded Ethereum mining company. TTM, operating since 2017, has been profitable and holds Ethereum valued at approximately $35 million. The merger enhances Sysorex's balance sheet by eliminating at least $13.5 million in debt and gives TTM shareholders 80% ownership of Sysorex. The combined company aims to leverage Ethereum's opportunities, including NFTs and decentralized finance, while retaining its cybersecurity services for the U.S. government.
Palo Alto, Calif. - April 14, 2021 - Inpixon (Nasdaq: INPX) announced the conversion of a $9 million note receivable from Sysorex (OTCQB: SYSX) into approximately $17 million of Sysorex shares, post-evaluation on April 13, 2021. This comes as Sysorex finalized a reverse triangular merger with TTM Digital Assets & Technologies, a major Ethereum miner. Inpixon CEO Nadir Ali stated that while the company won't enter the crypto mining sector, it aims to leverage emerging digital currency opportunities to benefit shareholders.