PALM BEACH, Florida, August 7, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
As blockchain technology continues to transform a growing number of industries, the cost-effective data processing is allowing data center developers to run more efficiently including increasing power use capabilities. Operations have exploded overseas including in China, but now the United States has an amazing opportunity to step up and start taking part in creating mega facilities, or data centers with high computational power for mining that supports the transactions on the blockchain, hopefully diluting China's position in the blockchain market and giving the U.S. a bigger piece. Crypto mining is the necessary computational process of approving cryptocurrency transactions to ensure the integrity of the network since there is no centralized authority overseeing the blockchain ledger network. The rise of blockchain technology, especially for use in crypto mining, means data centers and cloud management services have to adjust to the changing realities on the ground conducive to offering sustainable infrastructures for power. Active tech companies in the markets this week include Mining Power Group, Inc. (OTC: RCGR), Global Blockchain Technologies Corp (OTC: BLKCF) (CSE: BLOC), Pareteum Corp (NYSE: TEUM), MGT Capital Investments Inc. (OTC: MGTI), Big Blockchain Intelligence Group Inc. (OTC: BBKCF) (CSE: BIGG).
Mining Power Group, Inc. (OTCPK: RCGR) BREAKING NEWS : Mining Power Group announced today that it acquired the majority ownership interest of upstate New York technology company, Northway Mining, LLC, ("Northway") which offers highly specialized data center hosting services for thousands of cryptomining machines. Northway, which will become a subsidiary of the Company, presently has revenues from its existing clients and also from an ever-increasing number of new clients.
Included as part of the acquisition are real estate assets of substantial value from the purchase of the buildings in which Northway operates and a future building into which it will expand. In addition, included are 30 acres of surrounding flat land that will be used for future expansion of Northway as well as for the placement of industrial containers to house 1000's of additional mining machines for clients.
Under the terms of the transaction, Northway will maintain its current management and the Company will invest funds for the expansion of its facilities. Additional details of the pending transaction were not disclosed but will be included in an upcoming 8K filing.
Separately, the Company is in negotiations for a similar purchase of a majority interest in an unrelated privately-held company involved in the development of products for the cryptomining industry. Results of the negotiations will be announced at a later date.
Dror Svorai, President and CEO, stated, "This is something that we had been working on for a while and we are so glad to finally complete this transaction. We have not only entered the data center market… but we have done it in a big way that allows us to immediately begin a rapid ramp up of revenues. Read this and more news for Mining Power Group at: http://www.marketnewsupdates.com/news/rcgr.html
Other recent developments in the tech industry include:
Global Blockchain Technologies Corp (OTCPK: BLKCF) (CSE: BLOC.CN) recently announced an update on its exchange-related activities, which include interests in multiple cryptocurrency exchanges, as well as pending deals for the development of additional new exchanges. President and CEO Shidan Gouran stated "Our interests in this category form part of an additional and potentially stand-alone, critical mass business line for the company. As the assets continue to grow and mature, we believe the Company has put into place the right corporate structure to provide for a potential spinout of the Division in the future."
Pareteum Corp (NYSE: TEUM) recently announced that its current 36-Month Contractual Revenue Backlog (36MCRB) has grown to an astonishing $301 Million. Pareteum has added $46 Million to its 36MCRB with ten (10) new customer agreements the last 36 days. Achieving this tremendous milestone represents a 393% increase from a year earlier, when in July 2017, our 36MCRB was $61 million. Hal Turner, Executive Chairman and Principal Executive Officer of Pareteum stated, "Our customers are telling us that 'telecom needs to change'. We have been listening. We are 'software', and, that is what has changed, and will even more disruptively continue to change how we receive content and communicate. Pareteum, and, its Global Software Defined Cloud, have made dramatic leaps forward in fulfilling our vision of software-driven open mobility and applications that make our customers happy.
MGT Capital Investments Inc. (OTCQB: MGTI) Stephen Schaeffer, Chief Operating Officer of the Company recently hosted a "fireside chat" at the Crypto Mining Forum in Miami fielding questions on multiple topics related to the bitcoin mining ecosphere. Sponsored by Bitmain Technologies Inc., the Crypto Mining Forum was an invitation-only gathering of the top bitcoin mining industry participants in the crypto mining industry from the Americas. Operating in facilities in northern Sweden and Washington State, MGT Capital Investments, Inc. (MGTI) ranks as one of the largest U.S. based Bitcoin miners. MGT owns and operates approximately 6,800 Bitmain S9 miners, and 50 GPU-based Ethereum mining rigs. Further, the Company continues to execute on an expansion model to secure low cost power and grow its crypto assets materially.
Big Blockchain Intelligence Group Inc. (OTCPK: BBKCF) (CSE: BIGG.CN) recently announced it has signed Client, Reseller and Referral Partner agreements with global data verification specialist, Data Zoo, related to BIG's crypto wallet risk-scoring service BitRank VerifiedTM, blockchain forensic investigation platform QLUETM, and custom Forensic Services Division. Under the Client Agreement and Reseller Agreement, BIG will be paid a fee for API queries on crypto wallets that utilize BIG's BitRank VerifiedTM service.
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