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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:
This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words “estimate”, “project”, “intend”, “forecast”, “anticipate”, “plan”, “planning”, “expect”, “believe”, “likely”, “should”, “could”, “would”, “may” or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company’s actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company’s ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company’s operating history and resources, economic, competitive, and equity market conditions.
CONTACT:
Mining Power Group, Inc.
(800)304-2657
SOURCE Mining Power Group, Inc.
RCGR’s Recent Acquisition Adds 66,000 Additional Square Foot Building To Existing Facilities; $1 Million Dollar Facility Has 15 Megawatts Of Power On Site, Expandable To 100 Megawatts
MIAMI, October 18, 2018 /PRNewswire/ — Mining Power Group, Inc., (OTCPK:RCGR) (the “Company” or “RCGR”), announced today that its majority-owned subsidiary, Northway Mining, LLC, (“Northway”) which offers highly specialized data center hosting services for cryptomining, has acquired an additional 66,000 square foot building, located at 2 Flint Mine Road, Coxsackie, New York, for use as a cryptomining data center.
The Company had previously announced that it had acquired a majority interest in Northway Mining, which included real estate assets of substantial value including 30 acres of flat surrounding land that can be used for future expansion of Northway’s data center facilities. Northway at that time had 5000 square feet of secure crypto mining space. This transaction provides additional square footage for the Company’s planned expansion.
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, “This additional 66,000 square foot facility also has 15 Megawatts of power on site, expandable to 100 Megawatts, and, with a power station literally next door, we now have a 1000 Megawatt capability. This purchase represents over a $1Million investment, long term, in the facility given that $950,000 was paid for the building which will now have over $50,000 additional invested in it in improvements to facilitate the data center operations. This acquisition will allow us to quickly accommodate a substantial number of additional clients, generating more revenues for the Company.”
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:
This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words “estimate”, “project”, “intend”, “forecast”, “anticipate”, “plan”, “planning”, “expect”, “believe”, “likely”, “should”, “could”, “would”, “may” or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company’s actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company’s ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company’s operating history and resources, economic, competitive, and equity market conditions.
CONTACT:
Mining Power Group, Inc.
(800)304-2657
SOURCE Mining Power Group, Inc.
Financing Will Springboard the Growth of Recent Data Center Acquisition, Northway Mining, LLC.
MIAMI, October 16, 2018 /PRNewswire/ — Mining Power Group, Inc., (OTCPK:RCGR) (the “Company” or “RCGR”), announced today that on October 11, 2018, it had entered into a Common Stock Purchase Agreement with Triton Funds, LP, a Delaware limited partnership (“Triton Funds”), in which Triton Funds has agreed to purchase up to $1,000,000 of registered common stock of the Company in connection with a separate Registration Rights Agreement. Under the terms of the investment, the Company agreed to register the shares purchased under an S-1 registration statement to be filed with the Securities and Exchange Commission in the immediate future, and Triton Funds will be purchasing the shares at an 18% discount to the stated market purchase price (that is, at the market purchase price multiplied by 82%, meaning an 18% discount).
Dror Svorai President and CEO, stated, “We are excited to be working with a cutting-edge young organization focused on financing new technologies and emerging growth companies – like us. Our agreement with Triton Funds is highly advantageous to the company in that provides seed funding to springboard our rapid growth in the data center market, while affording Triton Fund a significant long term upside opportunity through their equity investment. It’s a win-win for everyone, especially our shareholders who will benefit by the significant investment Triton Funds is making in their company. Moreover, at only an 18% discount to market, the overall transaction is far less dilutive than convertible debt instruments.”
“Here at Triton Funds we strive to locate and invest into companies that make a technological impact going forward. Mining Power Group is one of the cases where a company is pushing the boundaries every single day. The Company, along with its management team, has found a way to keep extending its reach in the energy sector. While we live in an ever-changing technological world, Mining Power Group will be viewed as one of the company’s that helped push ideas forward,” said Dmitriy Slobodskiy Jr, Research Analyst of Triton Funds.
“One of the key factors we look for before we invest is how effective is the management team, and Dror Svorai has proved to be nothing less than exceptional. He has capitalized on every opportunity available and will continue to do so for the longevity of Mining Power Group,” said Yash Thukral, Founder of Triton Funds. “We look forward to providing seed capital to this company to help them succeed.”
About Triton Funds
Triton Funds, La Jolla, California, was started by three undergraduate students from Southern California aspiring to create an investment fund with a ‘millennial touch’. It began on the streets of La Jolla in search of investors willing to back our idea of a student-run fund that creates a greater sense of community through investments in local companies and entrepreneurs, philanthropy, and guidance to fellow college students interested in the finance field. As a result, local limited partners, coupled with the support of our advisory board, established Triton Funds, creating real-world opportunities for college students to guide its investments in growing companies. For more information, visit, https://www.tritonfunds.com.
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 a 1,000 rigs that operate 24/7. It has over 5,000 square feet of secure crypto mining space for any type of machine and is fully climate-controlled to assure machine optimal output. It has a unique competitive advantage in its onsite access to hundreds of Megawatts of electricity at very affordable rates. Its employees have significant experience in cryptocurrency operational systems, the repair of miners, 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:
This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words “estimate”, “project”, “intend”, “forecast”, “anticipate”, “plan”, “planning”, “expect”, “believe”, “likely”, “should”, “could”, “would”, “may” or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company’s actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company’s ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company’s operating history and resources, economic, competitive, and equity market conditions.
Contact:
Source: Mining Power Group, Inc.
+1-(800)304-2657
RCGR’s Recent Acquisition, Northway Mining, LLC. Brings Immediate Gains; Signs Major Client Contract For Crypto Miners; More To Come
MIAMI, August 9, 2018 /PRNewswire/ — Mining Power Group, Inc., (the “Company” or “RCGR”) (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 a 2-year, $270,000 per month hosting contract with Proof Computing, LLC., a U.S.-based firm which will yield approximately $6,480,000 million in revenues to Northway over the two years.
The contract encompasses the hosting of about 3,150 miners, including up to 25,000 GPU’s, projected to consume about 5 MW hours of electricity per month. Under the terms of the contract, the client is paying a $540,000, or two-month, advance deposit for the hosting services which will cover installation, set up and equipment testing services by Northway. The contract runs from approximately August 1, 2018, to July 31, 2020, and is renewable.
Northway is a cryptocurrency mining hosting facility that provides hosting, electricity, cooling, maintenance, insurance, downtime coverage, OS installation (GPU) assistance, setup and security, and more, including especially low rates for electricity, that reduces client costs and is a major competitive advantage in the marketplace.
The Company had just recently acquired a majority interest in Northway Mining, which has current revenues. In addition, it acquired real estate assets of substantial value including 30 acres of flat surrounding land that will be used for future expansion of Northway’s data center facilities. Northway presently has over 5000 square feet of secure crypto mining space.
Dror Svorai, President and CEO, stated, “One of the key reasons we did this acquisition, was that we saw that we were carving out a special niche in this market, where we were not actually competing with cryptomining companies, but we could provide top of the line and state of the art facilities and services that every company in the field would want and utilize. We are not competing with them but are servicing them. That way, the whole market could become our clients… not our competition.”
Michael Miranda, President of Northway Mining stated: “As I say in my bio on our website, I firmly believe that cryptocurrency is the future of transactions that will revolutionize the financial industry. This 2-year client contract (the first of many more to come) hints at the pace at which we expect demand for our facilities and services will grow… beginning today. We are leading the way in the marketplace by creating fully-customized data center cryptomining solutions.”
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. The Company has paid the fee and is in the process of submitting its application to OTC Markets in order to uplist to the OTCQB, which it plans to accomplish by September 1, 2018. 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:
This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words “estimate”, “project”, “intend”, “forecast”, “anticipate”, “plan”, “planning”, “expect”, “believe”, “likely”, “should”, “could”, “would”, “may” or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company’s actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company’s ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company’s operating history and resources, economic, competitive, and equity market conditions.
CONTACT:
Mining Power Group, Inc.
+1-(800)-304-2657
SOURCE Mining Power Group, Inc.
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