Company Signs Another Client Contract To Host Client’s 3,000 Cryptomining Mining Machines; Deal Will Generate Additional $200,000/Month ($2.5 Million/Year) In Hosting Fees To Company
MIAMI, October 24, 2018 /PRNewswire/ — Mining Power Group, Inc., (OTC:RCGR), announced today that its majority-owned subsidiary, Northway Mining, LLC, (“Northway”) which offers highly specialized data center hosting services for cryptomining, has signed another 1 year client hosting contract worth $200,000 per month which will yield approximately $2,500,000 million in additional hosting fee revenues to Northway over the next year.
The Company had previously announced that it had signed a 2-year, $270,000 per month hosting contract with Proof Computing, LLC., a U.S.-based firm which will yield $6,480,000 million in revenues to Northway over the 2 years.
Northway is a cryptocurrency mining hosting facility that provides hosting, electricity, cooling, maintenance, insurance, downtime coverage, OS installation (GPU) assistance, setup & security, and more, including especially low rates for electricity, that reduces client costs and is a major competitive advantage in the marketplace.
Dror Svorai President and CEO, stated, “We are seeing an increased demand from potential clients to utilize our hosting facilities who recognize that we provide a better value in the marketplace with our fully-customized data center cryptomining solutions. We anticipate more hosting deals in the present quarter.”
About Mining Power Group, Inc.
Mining Power Group, Inc. was original formed as Rich Cigars to distribute, brand and market tobacco products. Following a change of control in November 2017, it changed its name and shifted its focus to become a holding company for new subsidiary operations serving the cryptomining industry. The Company trades under the symbol “RCGR”) and is a fully reporting SEC company listed on the OTC market. For additional information on the Company, visit, http://www.miningpowergroup.com.
About Northway Mining, LLC
Northway Mining, LLC, located in Athens, NY, is a crypto mining data center hosting over 1,100 rigs that operate 24/7. It has over 5000 square feet of secure crypto mining space of any type of machines and is fully climate-controlled to assure maximum machine optimal output. It has a unique competitive advantage in its onsite access to 300 Megawatts of electricity at very affordable rates. Its employees have significant experience in cryptocurrency operational systems, the repair of miners, and general computer science and info management systems with a strong interest in all things Bitcoin/crypto/blockchain. For additional information on Northwood Mining, visit, https://www.northwaymining.com
Safe Harbor Statement:
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Mining Power Group, Inc.
SOURCE Mining Power Group, Inc.