BitMine Immersion Technologies Announces Launch of JV Site in Pecos Texas, and Start Date at Initial Site in Trinidad
ATLANTA, GA / ACCESSWIRE / June 14, 2023 - BitMine Immersion Technologies, Inc. (OTC PINK:BMNR) (“BitMine,” the “Company”), a technology company specializing in immersion technology for Bitcoin mining, announces the successful launch of and electrification of its JV site in Pecos, TX, with ROC Digital Mining. The site consists of 5.5 Megawatts of Immersion Datacenter equipment for running Bitcoin Mining Computers, as well as the initial deployment of Antminer S-19 pro miners.
BitMine will be running one full immersion container in Pecos with what it hopes will be an industry leading standard of “super-overclocking” between150-200% of the miner rated output. This type of increased production per miner can only be achieved in the most efficient cooling environment possible. Our goal is to achieve the highest sustainable production possible per miner amongst our peer group of publicly traded bitcoin miners- Pecos is the first step toward achieving this goal.
Additionally, BitMine has been given a firm start date of August 1st to launch its initial flagship site in Trinidad, the first deployment of the agreement to co-locate up to 100 megawatts of immersion datacenter equipment. We intend to sell miners and hosting space in “buy/host” transactions to interested customers, as well as self-mine for a substantial portion of capacity. We expect any machine sales to further increase revenue and gross profit margin in fiscal Q4 ending August 31st.
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About BitMine Immersion Technologies, Inc.
BitMine Immersion Technologies, Inc. is a technology company focused on Bitcoin mining using immersion technology, an advanced cooling technique whereby computers are submerged in specialized oil circulated to keep units operating at optimal ambient temperature.
Immersion technology is more environmentally friendly that conventional mining methodologies, while lowering expenses and increasing yield. BitMine’s flagship operations are located in low-cost energy regions in Trinidad and Pecos, Texas.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements.” Forward- looking statements are subject to numerous conditions, many of which are beyond BitMine Immersion Technologies’ control, including those set forth in the Risk Factors section of BitMine Immersion Technologies’ Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on January 5, 2023 and any other SEC filings,as amended or updated from time to time.
Copies of BitMine Immersion Technologies’ filings with the SEC are available on the SEC’s website at www.sec.gov.
BitMine Immersion Technologies undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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