The cryptocurrency market is on the rebound. This year has been full of important development for digital currencies and the global infrastructure supporting this market. After a troublesome and volatile period of time for cryptocurrencies in recent months due to a political crackdown in China on crypto miners, concerns over stronger regulations from governments and the immense energy required to mine Bitcoin, the prices of many of cryptos are once again on the rise. According to a report by CNBC, Bitcoin’s biggest investors appear to be upping their positions as the price recovers. In fact, cryptocurrency accounts holding roughly USD 50 Million or more worth of Bitcoin have steadily increased their buying since the end of June, according to new data from blockchain firm Chainalysis.

Some of the problems that the crypto market was recently facing are already being solved. For example, by the latest estimates, the Bitcoin network uses as much energy in one year as the country of Argentina. Yet, some companies in the crypto and blockchain market have taken steps to improve the situation. Manhattan Solar Partners, LLC, a joint venture between BIT5IVE, LLC and GMine LLC, recently announced plans to build crypto data centers utilizing over a gigawatt of renewable energy in Texas.

ISW Holdings Inc. (OTC: ISWH), transitioning to “BlockQuarry,” pending name change, announced earlier this week, “the filing of the Company’s financial performance data for the three months ended June 30, 2021.

“Our primary mining equipment was not installed and switched on until about two weeks before the end of Q2, so the bulk of the impact will show up in Q3 data in terms of topline numbers,” commented Alonzo Pierce, president and chairman of ISW Holdings. “That said, we have significant equipment now running and just received another large delivery of miners, so we are now cooking at a pace of well over $5 million in annual revenues on a monthly basis, with substantial growth ahead over coming months. We are also proud of material gains in assets while dramatically reducing our liabilities, including derivative liabilities, as we implement our new shareholder-friendly initiative announced several months ago.”

Financial Highlights for Three Months Ended June 30, 2021

Operational Highlights for Three Months Ended June 30, 2021

The three months ended June 30 represent a period of powerful growth in underlying value for the Company, driven by a large increase in assets paired with a large decrease in liabilities. The period is also meaningful because it represents the launch of active operations in cryptocurrency mining with the installation and switch-on in Pennsylvania.

However, management believes that the progress the Company has made in Q3 has been substantially more important to demonstrating tangible financial gains and the Company’s capacity to drive top and bottom-line growth. This progress has been highlighted by the Company’s recent partnerships with Bitmain Technologies and Minerset, which will provide for significant material gains in both mining and hosting activities.

The Company looks forward to further discussing its growing operations in its Southeastern U.S. hosting sites, including total mining capacity that could reach 5.32 EH/s once all 200+ MW are active across all pod units.

Pierce added, ‘We received our initial primary tranche of miners by mid-June. By June 30, we had mined only $19k. However, this was achieved with only minimal mining capacity up and running. Other minor obstacles included refitting our pods for s19’s given that the pods were designed for s17’s. Another 250 Avalon’s arrived last week, and we are now in process of installing the remaining miners needed to reach a hashrate of 54,000 TH/s, which will produce nearly 12 BTC per month, or a little over $6 million in annual revenues at current pricing. However, that doesn’t include new equipment gains on the way or our upcoming growth in hosting revenues, which should surpass $10 million per month once we fully implement the terms of our Bitmain 200 MW agreement, as recently discussed in Company communications.'”

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