Datacenter owner and operator, U.S.-based, publicly-traded Ethereum mining and EthereumBlockchain technologies company, Sysorex (OTCMKTS:SYSX) on August 5, 2021, announced that by July 13, 2021, all Ether fuelingEthereumBlockchain is being aggregated in its treasury wallet at Coinbase.
Wayne Wasserberg, CEO of Sysorex, said that the recent closing of $8 million in investment capital has resulted in the firm paying all outstanding invoices as well as debts pertaining to the merger with TTM Digital Assets & Technologies.
Wasserberg also said that the firm has settled the balance owed on its mining GPUs like 10,000 GPUs including thousands of Nvidia Cryptocurrency Mining Processors, which are owned by Sysorex and functioning round the clock.
The CEO believes that it is a monumental day for Ethereum as Ethereum Improvement Protocol 1559 will be a part of an expected network upgrade called the ‘London hard fork’.
This will ensure predictable transaction fees, augmenting network usability that may result in increasing the value of Ether.
The company opines that its robust cash position will help its strategy of holding all mined Ether in treasury going forward. Sysorex also feels that on the arrival of Ethereum 2.0, the company aims to repurpose its GPUs for other use cases, that will drive revenues beyond the continued support of the EthereumBlockchain.
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