ISW Holdings (OTC: ISWH) (transitioning to “BlockQuarry,” pending name change), a Nevada-based portfolio company with primary commercial-stage operations in cryptocurrency mining, today announced that it has surpassed agreed-upon milestones related to the performance of its common stock price. The company will, therefore, receive an additional 150 Bitmain S19 95TH/s miners from Minerset, a Delaware LLC, due to negotiated milestone clauses included in the asset purchase agreement reached between the two companies in August. According to the update, the company leveraged its shares of Preferred B stock to purchase its initial tranche of 400 miners. As a part of the contract, ISW Holdings President and Chair Alonzo Pierce and Minerset managing member Elias Fernandez Sanchez negotiated a graduated milestone provision deeming that ISW Holdings would earn 75, 150 or 225 additional Bitmain S19 95TH/s miners based on the performance of the company’s common stock at or above $2, $3 or $4, respectively. “This contract was a win for both companies; we didn’t have to part with $3.8 million in cash, and Minerset was able to quickly move its inventory,” said Pierce. “With the appreciation of our stock price, both companies have already been amply rewarded for this partnership.”
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About ISW/BlockQuarry Corp.
ISW/BlockQuarry is quickly becoming one of the largest mining and hosting providers in the digital currency space in North America as it seeks to transform the financial markets of the future. The company’s complement of cutting-edge technologies has enhanced the bitcoin/cryptocurrency ecosystem, enabling its customers to take advantage of real-time cost savings. At the same time, its customers can feel confident that their digital transactions and assets are entirely secure. The company utilizes a scalable blockchain infrastructure to convert unique identifiable assets (“UIAs”) into interchangeable digital assets such as Bitcoin and other fungible digital assets. ISW/BlockQuarry offers immediate liquidity in the form of fast, confidential transactions, as well as the issuance of assets in the traditional capital markets.
NOTE TO INVESTORS: The latest news and updates relating to ISWH are available in the company’s newsroom at http://ibn.fm/ISWH
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