Pow.re Announces Construction Launch and Timeline for Paraguayan Data Centers, ASICs Purchases
MONTREAL, Oct. 13, 2022 /PRNewswire/ -- Pow.re Holdings Limited ("Pow.re" or the "Company"), a leading sustainable proof-of-work mining enterprise, is pleased to announce the commencement of construction of two new data centers in the region of Asunción, Paraguay.
These two new facilities will secure 12 megawatts of hydroelectric power for the company. The first site is expected to be operational in Q4 2022 and the second should be completed by Q1 2023. The Paraguay expansion will make significant contributions towards the Company's goal of achieving hashing power of 0.5 exahash per second (0.5 EH/s) by Q2 2023.
"We are very excited to have broken ground on our two first data centers in Paraguay and are on track to start our digital mining operations in the country later this quarter" said Mike Blais-Cohen, Co-Founder and CEO of Pow.re. "Executing on our LATAM expansion will help diversify the provenance of our hashing power and increase our uptime, a key metric in our global business strategy. Paraguay has been a welcoming jurisdiction for our activities with competitive infrastructure costs, abundant hydroelectric power, a skilled workforce and tremendous potential for growth", added Blais-Cohen.
Miner purchase
Additionally, the company has purchased 3600 premium MicroBT Whatsminer, totaling 396 petahash per seconds (PH/s), with an average efficiency of approximately 31 joules per terahash (31J/TH) and consuming 12.3 megawatts of power at full capacity. Delivery of the equipment is scheduled for later in October 2022, and should arrive in Paraguay prior to the completion of the first site.
"MicroBT units have been the workhorse of our operations in the last two years and have proven their outstanding performance and reliability," said Ian Descôteaux, Co-Founder and CTO of Pow.re. "These new units, purchased in line with our counter-cyclical asset acquisition strategy, keeps our acquisition cost below market averages and should enable us to provide industry-leading ROIC to our investors", added Descôteaux.
About Pow.re Holdings Limited
Established in November 2019, Pow.re has deployed data center infrastructure using stranded renewable energy sources for the production of hashing power used in PoW mining. Pow.re aspires to leverage its growing proprietary hashing power to drive the commodification of digital asset mining.
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SOURCE Pow.re Holdings Limited
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