Legendary activist investor Carl Icahn is apparently, according to Bloomberg, interested in getting into cryptocurrency in a “big way,” and may eventually put more than $1 billion into an alternative currency.
Elon Musk, in the same 48-hour period, says, to paraphrase and generalize, that he is seeing promise in the potential for Bitcoin and other coins to adapt to the rigors of a carbon neutral sustainable paradigm.
To add to that, JPMorgan came out and initiated coverage of Coinbase Global Inc (NASDAQ:COIN) with an “Overweight” rating, which represents the notion that Wall Street hasn’t abandoned its newfound love of crypto just because of a little volatility.
That’s a big news cycle for crypto, and stands to hold consequences for stocks like Riot Blockchain Inc (NASDAQ:RIOT), ISW Holdings (OTCMKTS:ISWH), and Marathon Patent Group Inc (NASDAQ:MARA).
But it also holds importance for the renewable energy space because operations in the mining space will represent an enormous demand for energy, and the fact that digital currencies will seemingly fail unless they can prove their ability to fit within a sustainability paradigm channels that demand to companies like Stem Inc (NYSE:STEM), NextEra Energy Inc (NYSE:NEE), and QuantumScape Corporation (NYSE:QS).
Spotlight: ISW Holdings (OTCMKTS:ISWH)
One company that stands at the intersection of these themes is ISW Holdings (OTCMKTS:ISWH), a diversified holdings company with active commercial operations in Telehealth and Renewable Energy Cryptocurrency Mining.
ISWH is a relative newcomer in the crypto space, getting things ramped up last year in May and June with its partnership with Bit5ive LLC, designing and assembling its Proceso POD5IVE mining pod, a fully self-contained high-PUE mining solution designed, assembled, and installed in partnership with Bit5ive at the Bit5ive 100 MW renewable energy cryptocurrency mining facility in Pennsylvania.
The company announced this morning that its President and Chairman, Alonzo Pierce, was recently featured on the popular Waypoint Podcast, alongside Robert Collazo of Bit5ive.
The podcast can be found HERE.
In the podcast, Collazo and Pierce discussed their partnership and the progress they have made since last summer.
Collazo also discussed his long-term commitment, and how he got started very much at the very beginning of the crypto revolution as Bitcoin was in its nascency. Pierce established that he has been very impressed with Collazo’s expertise and experience and has complete confidence that he, and ISW Holdings, have the right partner to produce a market-leading carbon neutral cryptocurrency company.
Collazo also noted that the partners will not simply hold mined coins in cold storage, but seek out innovative ways to monetize, hedge, and otherwise capitalize on the savings and value mined coins represent so that the capital is working for them while they continue to produce more.
The partners also noted that they will be participating in a coordinated pooled mining strategy, which will include entering into the Bitmain mining pool. Collazo further suggested that independent mining operations – outside of a pool – is no longer a valid strategy given increased competition and global hash rates.
The podcast host remarked several times that the partners have managed to coordinate an enviable relationship with the City of Miami. More details on this will be disclosed soon.
Collazo also noted that the partners have done a very good job of sourcing new miners. The host of the podcast noted that they must have special connections and that this represents one of the major hurdles facing the industry at present due to the global chip shortage. Collazo stated that Bit5ive has been proactive in protecting the needs of its partners. In addition, Bit5ive’s very strong relationship with Bitmain, the world’s foremost producer of ASIC bitcoin mining hardware, has been instrumental in sourcing during a difficult context.
The partners also noted that there are several major announcements on the way, including a move to segment out and launch hosting operations, and also hints of a new pod design for alt-coin mining.
Renewable Resources: The partners also noted that the shift to innovate toward a carbon neutral mining standard is the north star in the space, and that they have been working toward this goal aggressively.
Collazo also discussed the strategy in place to monetize used miners efficiently given the powerful market in place for secondary mining equipment.
Pierce noted that timing is essential for managing the equipment input/output equation, and he is glad he partnered with a top expert to make sure those decisions are made based on data and real-world experience.
The big headline, as noted in the Company’s prior release, is that hashing is now underway this week.
Finally, both Collazo and Pierce agreed that ISW Holdings mining infrastructure and operations can be profitable on a per unit basis with Bitcoin above $25k/coin.
Pierce also noted that the Company has been working through a set of strategic objectives. The Joint Venture structure of the relationship between Bit5ive and ISW Holdings is working well and any further discussions that hinge upon a different relationship structure lie ahead. Both companies are focused on the long-term value of their joint operations.
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