ISW Holdings Ord Shs (OTCMKTS:ISWH) is seeing a mild gains in early morning session on Thursday. The stock has surged about 20% over the past week.
Market Reaction:
As of 12:29, ISWH stock moved up 11.50% to $0.39 with more than 837K shares, compared to its average volume of 810K shares. The stock has moved within a range of $0.3697 – 0.4480 after opening the trade at $0.3745.
Major Trigger:
ISW Holdings Update: Announces Delivery of 300 Crypto Miners, JV Partner BIT5IVE Now Positioned as Key El Salvador Bitmain Distributor
Key Highlights:
- announced the delivery of a fleet of 300 cryptocurrency miners to be installed into its new POD5IVE Mining pods.
- Management notes that new mining capacity has become increasingly difficult to obtain due to increased demand for mining equipment as well as a global shortage of microchips. Through its partnership with Bit5ive LLC (“Bit5ive”), the Company was able to take advantage of strong relationships to gain access to expanded production capacity, which will also undergird its process for further expanding production capacity in coming weeks and months.
- In addition, Bit5ive’s Central American Bitmain distribution license includes the country of El Salvador, and ISWH is currently exploring related opportunities through their Joint Venture with Bit5ive.
Key Quote:
“This is a huge step, and we are excited to increase our efficiency and scale with the installation of this large new order of mining rigs,” noted Alonzo Pierce, President and Chairman of ISW Holdings. “We have more miners heading our way over coming weeks and months as we continue to build out our capacity to monetize the investment we have made in this space over the past year.”
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