MALIBU, Calif., March 10, 2022 /PRNewswire/ — The Crypto Company (OTC: CRCW) announced that it has begun mining Bitcoin. The company has acquired 215 cryptocurrency miners that will be operating partially air cooled and partially in immersion cooling technology, which serves the company’s goal to see Bitcoin mining become more energy efficient.
Through immersion cooling, the mining rigs operate significantly more energy efficient, reducing the amount of electricity necessary to mine. The cost of power for the company’s mining operations is $0.035/kWh.
“We are thrilled with this new line of business as it establishes our entrance into the Bitcoin mining industry. The acquisition of these 215 mining rigs represents the beginning of our Bitcoin mining operation that the company intends to expand,” said Ron Levy, CEO of The Crypto Company. “Bitcoin adoption continues to increase for many individuals and institutions. Bitcoin miners play a fundamental role in providing additional security to the growing bitcoin network. We are excited to play a part as we begin these new operations.”
About The Crypto Company: The Crypto Company is engaged in Bitcoin mining as described above as well as being in the business of providing consulting services and education for distributed ledger technologies, for the building of technological infrastructure and enterprise blockchain technology solutions.
Forward-Looking Statements:
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of The Crypto Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond The Crypto Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with The Crypto Company’s business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in The Crypto Company’s periodic filings with the Security and Exchange Commission.
SOURCE The Crypto Company