ISW Holdings, Inc., an international brand management holdings company, reports that it has signed a cryptocurrency mining hosting agreement with Bitmain Technologies, the chief producer of cryptocurrency mining hardware and one of the main global cryptocurrency mining firms in the world.
ISW runs commercial operations in Telehealth and Renewable Energy Cryptocurrency Mining. The agreement will be the backbone of the company’s Phase One launch of its cryptocurrency hosting and mining operation in Georgia. Additional details on this agreement will be revealed shortly.
According to Irene Gao, Antminer BD Director NCSA Region, Bitmain, “We are excited to have signed this new pioneering project to begin cooperation with ISW Holdings, a new milestone for the industry for creating hosting facilities overseas. The 200 MW facility is the first phase of our long-term partnership, utilizing renewable energy as its source. We expect to further expand this project into the future to support the development of the industry.”
Bitmain is probably the most recognizable name in the mining space, and we are excited that they will be a major piece of our success in Georgia. Once our 200 MW power tranche is fully utilized, we anticipate annualized revenues of over $200 million, but that will only close the first phase of our vision. We look forward to discussing our next phases in due course. If we are able to execute according to our full vision, we have the potential to drive exponential revenue growth ahead.
Alonzo Pierce, President and Chairman, ISW Holdings, Inc.
Management explained that a recent restriction in China has taken approximately 54% of the global hash rate offline. This led to the largest ever single-day easing of bitcoin mining difficulty (roughly 28%) via the bitcoin algorithm adjustment that occurred on Saturday, July 3th, 2021.
Also, it has led to high demand for cryptocurrency hosting services in China’s outer regions as mining operations look to relocate in a geographical manner.
We are grateful for the opportunity to work closely with some of the best in the business. Bitmain has solidified itself as a trailblazer in the cryptocurrency mining industry, and we look forward to a bright future together in Georgia.
Alonzo Pierce, President and Chairman, ISW Holdings
Bitmain Technologies is an international semiconductor company with the most advanced IC design abilities. Bitmain provides products, such as servers, chips, and cloud solutions, for artificial intelligence (AI) and blockchain applications. Launched in 2013 and headquartered in Haidian District, Beijing, Bitmain has research and development centers in countries like the United States, Singapore, and Hong Kong.
As per Frost & Sullivan, Bitmain comes under the world’s top 10 fabless IC designers and China’s second-largest. Bitmain’s focus is on computing chips with a view to achieving an optimized digital world.
It has design abilities for various chip processes, such as the latest 5 nm process. In the blockchain mining field, Bitmain has sent billions of ASICs, which constitute 75% of the global market. It is one of the world’s few companies boasting the capability to design cloud-based AI chips and has been successful in releasing four generations of its AI chip.
Bitmain’s AI chips feature the latest tensor acceleration for deep learning, and hence can be employed for an extensive range of applications like automatic driving, facial recognition, smart cities, smarter security, medical services smart governance, and more.