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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Blockware Solutions Announces the Sale of Their 200,000th Bitcoin Mining Rig

June 24, 2021 GMT

CHICAGO--(BUSINESS WIRE)--Jun 24, 2021--

Blockware Solutions (BWS), an industry leader in blockchain infrastructure and cryptocurrency mining is proud to report the sale of their 200,000 th Bitcoin mining rig.

BWS operates at the center of the digital asset and proof-of-work ecosystem supply chain working as a critical partner for miners, pools, manufacturers, hosting facilities, exchanges, and new protocols – offering hardware sales, research insights, consulting services, investments, colocation services, mining pools, and validator nodes to the Blockchain industry.

Since its founding in 2017, BWS has accumulated significant mining hardware and hashpower, and established relationships in the hardware primary and secondary markets. In 2019, BWS launched the BWS pool including their hosting-as-a-service (turnkey) offering, the Pool (mine.blockwarepool.com) is currently at 500+ PH/s and is projected to more than double that number in 2021.

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Hyper growth in the last year

Last year, BWS began to significantly scale self-mining and diversify service offerings which escalated company revenue to see it surpass its 2020 revenue results in the first quarter of 2021.

In 2020, BWS also launched its SKALE Labs Validator and BWS was one of 10 companies selected to be a validator for Dfinity (ICP). BWS continues to invest in new projects, offering early stage companies a proven partnership with a leading service provider to grow their infrastructure needs.

CEO and Co-founder, Mason Jappa comments: “In the last year, we have seen BWS grow exponentially as our diversified services continue to support the increasing global demand for Bitcoin Mining, Blockchain-as-a-service, and general network advice. Our valuable research reports offer a data and thesis driven approach to the latest updates in the industry, making it accessible for all those that are interested to learn more. We are proud of the network that we have built and to see our first quarter’s results for 2021. We look forward to continuing to grow BWS.”

A fully integrated offering

BWS offers a unique suite of services from turnkey mining solutions to a differentiated infrastructure supply distribution and management, staking nodes and producing industry leading research on bitcoin (BTC) and mining. BWS is helping to drive adoption across miner manufacturers, publicly traded mining companies and hosting providers through their position in the ecosystem.

A booming market

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At current prices, over $10 billion worth of BTC is mined each year, with 328,500 new BTC being released. The last of the 21 million BTC will be mined in 2140, meaning mining will continue for at least another 100 years. With this as the market context, BTC’s price is forecast to increase with JP Morgan setting a $146,000 price target for 2021 and CitiBank publishing a report calling BTC the “21 st century gold” predicting a $318,000 BTC price by the end of 2021. While BTC is the market leader within the cryptocurrency landscape holding a $606 billion market capitalisation, it accounts for 45.6% of the total cryptocurrency market cap, with alternative cryptocurrencies making up for the remaining 54.4%

An expert team

BWS is led by market and subject matter experts regularly referenced in global media outlets. The team includes CEO and co-founder Mason Jappa, who additionally sits on the advisory board of Nasdaq-listed RIOT Blockchain and Sam Chwarzynski, co-founder and Chief Investment Officer. Matt D’Souza, prior CEO and co-founder, passed away in 2020. BWS will carry on the torch and preserve Mathew’s legacy.

https://www.blockwaresolutions.com/

Notes to editor

About Blockware Solutions

Blockware Solutions is an industry leader in Blockchain infrastructure and cryptocurrency mining. Their services include hardware procurement, mining rig colocation, and professional mining and staking pool operations. They offer access to an extensive network of commercial Data Center Facilities across North America who specialize in hosting and colocation services for Cryptocurrency mining hardware; providing guaranteed up-time and 24/7 monitoring by experienced IT personnel. BWS has sold over 200,000 ASICs since its launch in 2017, placed over 100 MW of hosting clients and had over one million views of its Blockware Proprietary Research, translated in over 15 languages. For more information, visit https://www.blockwaresolutions.com/.

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CONTACT: For more information

Lallie Fraserlallie@polkadotelephant.com; +44 (0) 7743 077773

KEYWORD: ILLINOIS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY FINANCE SOFTWARE BANKING

SOURCE: Blockware Solutions

Copyright Business Wire 2021.

PUB: 06/24/2021 03:23 PM/DISC: 06/24/2021 03:23 PM

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