AXTG SUBSIDIARY, TIENCHAT, EXPANDS ITS BLOCKCHAIN DECENTRALIZED BUSINESS TO ENGAGE IN CRYPTOCURRENCY MINING.
August 25 2021 - 3:36AM
InvestorsHub NewsWire
New York, NY -- August 25, 2021 -- InvestorsHub NewsWire -- AXIS
TECHNOLOGIES GROUP, INC. (OTC:
AXTG) (“AXTG” or the “Company”), a holding company that
promotes decentralized finance businesses, and supports the
development of blockchain and decentralized finance (DeFi)
projects, is proud to announce that it plans to invest and engage
in the mining of cryptocurrencies (specifically Ethereum (ETH))
through its wholly owned subsidiary, TiENCHAT.
The Company has assembled a team of industry veterans with years
of experience in the management and mining of cryptocurrencies and
in the technology to support the development and growth of digital
assets.
The first order of 50 ETH enterprise miners is intended to start
mining in the 4th quarter, 2021 in Singapore with each
miner expected to generate on average approximately 1.5 Ethereum
(ETH) per miner each month. The Company is seeking to rapidly
increase the number of ETH enterprise miners under management to
more than 1,000 ETH miners by the middle of 2022 with operations
both in Singapore and in the US.
William Tien, President and CEO of AXTG commented, “We are
optimistic about the positive outlook of the cryptocurrency market
with Ethereum (ETH) prices closing yesterday at approximately $3327
per ETH, an increase of 751% from the price of $391 per ETH exactly
this time last year. Our initiative to engage in cryptocurrency
mining is an important part of our overall blockchain decentralized
finance strategy. We strive to continually build a clean
energy-based ETH mining network globally as we believe this mining
initiative will generate valuable digital assets to help internally
finance and accelerate the Company's future growth”, further
commented Mr. Tien.
Safe Harbor Statement
This press release may include forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements related to anticipated revenues,
expenses, earnings, operating cash flows, the outlook for markets,
and the demand for products. Forward-looking statements are no
guarantees of future performance and are inherently subject to
uncertainties and other factors which could cause actual results to
differ materially from the forward-looking statements. Such
statements are based upon, among other things, assumptions made by,
and information currently available to, management, including
management's own knowledge and assessment of the Company's industry
and competition. The Company assumes no duty to update its
forward-looking statements.
CONTACT:
Axis Technologies Group, Inc.
ceo@axtg.us
Axis Technologies (PK) (USOTC:AXTG)
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