WILMINGTON, Del., March 30, 2021 /PRNewswire/ -- HashWatt, Inc., a US-based, low-cost-energy bitcoin mining and captive energy development company, with contractual access to 50MW of ESG power and expansion capability to 500MW of ESG power, announces today the completion of a 2nd round of internal financing, bringing its total capital raised to $2.4 million dollars. The investment will be used to expand mining operations within its partner's US powerplant facilities. HashWatt's power agreements are unique because its energy partner is vertically integrated, controlling fuel, fuel delivery, electricity generation and waste removal. Unlike many competitors, the fuel and plant operations are "ESG" (considered "green" and sustainable). HashWatt is already operational and utilizing plant provided ESG power. This results in no grid-based regulatory risk, or executional risk for HashWatt' further expansion.
Previously, HashWatt signed the first-of-its-kind contract with a US power supplier for the building of large scale crypto mining operations on the grounds of multiple power plants (behind the nameplate) (connected directly to power stations before reaching the grid). HashWatt, Inc. enables scalable investments to development mines ranging from 7.5MW to 50MW. HashWatt owns and operates its own mines with the goal of increasing its #btc ownership position.
"The Company is deeply committed to sustainable and efficient #btc mining, the use of ESG power and being a best practices leader in the legitimization of the crypto currency/ mining industry. HashWatt believes a US-based digital asset mining industry is important to continued global leadership in financial services innovation. We are deeply committed to an ESG focus and engagement with regulators are we execute our planned expansion to operate at scale." said Kenyon Hayward, Chief Executive Officer of HashWatt, Inc.
The Company has indicated that its scaling plans include immediate expansion to an additional 7.5MW, followed by a 40MW expansion and then a series of 50MW expansions. The Company also intends to roll out complementary fintech blockchain services.
About HashWatt, Inc.
HashWatt, Inc.'s sustainable bitcoin mining and captive ESG energy development is among the most efficient and lowest power cost miners in the U.S. HashWatt' s unique arrangements with U.S.-based power generation plants guarantees long-term, low-cost electricity without grid-based regulatory risk, and secure, leasehold property. These contractual agreements are for seven years and renewable for three-year extensions. The Company applies best-in-class practices and rigorous business management and execution to the mining market in conformity and compliance with U.S. laws rules, and regulations. For more information, please visit www.hashwatt.io
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