ISW Holdings Initializes Production of Initial 1MW Proceso S19 Pod5ive Data Center Design for Shipment to 100-Megawatt Bit5ive Project
LAS VEGAS, July 29, 2020 (GLOBE NEWSWIRE) -- via NetworkWire -- ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a global brand management holdings company, is thrilled to announce its finalization of the new Proceso S19 Pod5ive data center design, which is capable of powering 1MW of computing mining power. Bit5ive is targeting the first deployments beginning in August, with its initial pod delivery bound to the 100-MW renewable energy Bit5ive LLC (“Bit5ive”) project in Pennsylvania.
“The S19 Pod5ive Data Center has been engineered from the ground up to deliver an industry leading Power Usage Effectiveness (“PUE”) score of 1.025,” stated Alonzo Pierce, president of ISW Holdings. “If you eliminate everything superfluous to maximum performance, optimize every remaining factor, and then integrate it into a renewable energy substrate to drive costs down to some of the lowest levels available anywhere in the world, this is what you get.”
The Company formed a joint venture partnership with Bit5ive in May (the “JV”) to build and deliver the single most elegant, powerful and efficient data center pods in the world. Geared primarily for the cryptocurrency mining industry, the Proceso S19 Pod5ive Data Center offers next-generation, dynamic self-management functionality, plug-and-play operation, virtually nonexistent maintenance needs, and an industry best-in-class 1.025 PUE.
Design features include:
ISW Holdings has committed to ramping up sales of its Proceso S19 Pod5ive Data Center Pods through initial market penetration as a supplier to Bit5ive’s 100-MW mining hosting facility based in Pennsylvania. This initial end market will offer the Company an efficient scaling model, first creating a proven, successful track record and visibility as a core supplier to one of the most ambitious cryptocurrency mining projects in the world today.
In the process, th Company will generate additional revenues from operating its pods at the Bit5ive site. Further, it will lay claim to 100% of the monthly proceeds and leverage its access to top-quality equipment, industry-leading efficiency and a per-unit energy cost structure that has been optimized for industrial-scale, globally competitive cryptocurrency mining operations.
“We are set to begin phase two of a four-phase process that we believe will drive strong and rapidly growing cash flows in ISW’s mining and data center division by Q1 2021 as we fast-track positioning as a leading cryptocurrency mining equipment supplier,” added Pierce. “The first phase was about integrating leading design solutions from our expert Bit5ive partners, as well as establishing a supply chain to bring in industry-leading parts and equipment. The second phase is assembling and shipping our first units, which is now underway. The third phase, which begins in September, is about bringing in revenues from participation in the Bit5ive Pennsylvania project while simultaneously building a track record for the Proceso S19 Pod5ive Data Center Pods as a global best-in-class solution for mining facilities around the world. Phase four starts in January 2021, when we begin to fully bring this solution to the market, backed by support from our experienced Bit5ive partners and the network that comes with that powerful package, as well as our own established quantitative track record of success.”
Management believes the cryptocurrency mining equipment market is now in the early stages of a new expansion cycle as product evolution and growing demand have eliminated existing supplies of prior-generation and secondary-market or resale equipment left over from the bitcoin bull market that topped in late 2017.
About ISW Holdings
For more information, visit www.ISWHoldings.com.
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 (www.otcmarkets.com).
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