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Rich Cigar, Inc. (RCGR)

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Rich Cigars, Inc. / Mining Power Group Inc. (OTC: RCGR)

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OTCMarkets Company Profile: https://www.otcmarkets.com/stock/RCGR/profile

Company Description: Mining Power Group, Inc. was original formed as Rich Cigars to distribute, brand and market tobacco products. Following a change of control in November 2017, it changed its name and shifted its focus to became a holding company for new subsidiary operations serving the cryptomining industry.  The Company trades under the symbol "RCGR") and is a fully reporting SEC company listed on the OTC market.  The Company has paid the fee and is in the process of submitting its application to OTC Markets in order to uplist to the OTCQB, which it plans to accomplish by September 1, 2018.  For additional information on the Company, visit, http://www.miningpowergroup.com.

Mining Power Group will own subsidiary companies that provide products and services to the blockchain industry, including the operation of data centers to provide low-cost hosting services to cryptocurrency miners from around the world. Each MPG data center will have the capacity to host thousands of cryptomining machines at a highly efficient cost to the miners.

Since crypto mining requires specialized high performance hardware housed in secure data centers and is an extremely intense activity that consumes both increasing electric power and computing capacity over time, it can be quite costly. Moreover, the cost of the electricity alone can be quite substantial. Overall, Mining Power Group?s strategy is to provide data center hosting facilities that will provide substantial savings to the third parties that house their hardware with us while providing a secure, heat-controlled environment for the machines. One of the bigger savings will be the reduced cost of electricity that the Company will be able to provide by negotiated power company contracts.

Mining Power Group sees and understands the need in the marketplace and intends to be at the forefront of providing an inexpensive way for individual crypto mining companies to survive and thrive.

Separately, The Company plans to also invest in the development of proprietary cryptomining hardware and software which will be sold to miners in multiple countries.


CONTACT DETAILS
20200 Dixie Highway
Suite 906
Miami, FL 33180
www.miningpowergroup.com
(800) 304-2657


SECURITY DETAILS

Authorized Shares - 1,000,000,000    - 07/20/2018
Outstanding Shares - 55,422,377
   
 


COMPANY OFFICERS
Dror Svorai — President, Chief Executive Officer, Secretary and Treasurer and sole director of the Mining Power Group, Inc


Accounting/Auditing Firm
Pritchett, Siler & Hardy, P.C.
515 South 400 East
Suite 100
Salt Lake City, UT 84111

Securities Counsel
Matheau J.W. Stout Esq.
400 E. Pratt St.
8th Floor
Baltimore, MD 21202
 
 

Recent News

Mining Power Group, Inc. (RCGR) Acquires Majority Ownership of Crypto Mining Data Center With Significant Assets and Revenues

Northway Mining, LLC's Competitive Advantage is its Significant Cost Savings to Crypto Miners

MIAMI, August 7, 2018 /PRNewswire/ --

Mining Power Group, Inc., (the "Company" or "RCGR"), announced today that it acquired the majority ownership interest of upstate New York technology company, Northway Mining, LLC, ("Northway") which offers highly specialized data center hosting services for thousands of cryptomining machines.

Northway, which will become a subsidiary of the Company, presently has revenues from its existing clients and also from an ever-increasing number of new clients.

Included as part of the acquisition are real estate assets of substantial value from the purchase of the buildings in which Northway operates and a future building into which it will expand. In addition, included are 30 acres of surrounding flat land that will be used for future expansion of Northway as well as for the placement of industrial containers to house 1000's of additional mining machines for clients.

The purchased property has onsite access to approximately 300 Megawatts of electricity at very affordable rates contracted by Northway, which provides Northway with a significant competitive advantage on which to aggressively seek new and large client contracts. The cost of electricity being a significant cost component in the operation of any cryptomining machine.

Under the terms of the transaction, Northway will maintain its current management and the Company will invest funds for the expansion of its facilities. Additional details of the pending transaction were not disclosed but will be included in an upcoming 8K filing.

Separately, the Company is in negotiations for a similar purchase of a majority interest in an unrelated privately-held company involved in the development of products for the cryptomining industry. Results of the negotiations will be announced at a later date.

Dror Svorai President and CEO, Mining Power Group, Inc. stated, "This is something that we had been working on for a while and we are so glad to finally complete this transaction. We have not only entered the data center market but we have done it in a big way that allows us to immediately begin a rapid ramp up of revenues. Existing clients can readily add machines because of our immense capacity, which is a key capability that we offer our clients. Our immediate ability to expand our facilities and the significant operational cost savings we can offer our clients due to our low cost of electricity, provides them with an affordable way to thrive and profit."

Michael Miranda, President of Northway Mining stated: "Our whole team is excited to be a part of Mining Power Group and a part of a public company which will give us the support we need to keep pace with our rapidly growing business. The increasing demands from our existing client base, coupled with our many new client additions, required that we rapidly accelerate our expansion to meet the needs of both. With our highly experienced and qualified staff and Mining Power Groups' support, we will be able to upgrade our facilities and aggressively take advantage of this rapidly growing market."

About Mining Power Group, Inc.

Mining Power Group, Inc. was originally formed as Rich Cigars to distribute, brand and market tobacco products. Following a change of control in November 2017, it changed its name and shifted its focus to become a holding company for new subsidiary operations serving the cryptomining industry. The Company trades under the symbol ("RCGR") and is a fully reporting SEC company listed on the OTC market. The Company has paid the fee and is in the process of submitting its application to OTC Markets in order to uplist to the OTCQB, which it plans to accomplish by September 1, 2018. For additional information on the Company, visit, http://www.miningpowergroup.com.

About Northway Mining, LLC

Northway Mining, LLC, located in Athens, NY, is a crypto mining data center hosting over 1,100 rigs that operate 24/7. It has over 5000 square feet of secure crypto mining space of any type of machines and is fully climate-controlled to assure maximum machine optimal output. It has a unique competitive advantage in its onsite access to 300 Megawatts of electricity at very affordable rates. Its employees have significant experience in cryptocurrency operational systems, the repair of miners, and general computer science and info management systems with a strong interest in all things Bitcoin/crypto/blockchain. For additional information on Northwood Mining, visit, https://www.northwaymining.com
 

Images from the New Facility



 


Mining Power Group, Inc. (RCGR) Data Center Subsidiary Signs $6,480,000, Two-Year Hosting Contract With Client


MIAMI, August 9, 2018 /PRNewswire/ -- RCGR's Recent Acquisition, Northway Mining, LLC. Brings Immediate Gains; Signs Major Client Contract For Crypto Miners; More To Come

Mining Power Group, Inc., (the "Company" or "RCGR") (RCGR), announced today that its majority-owned subsidiary, Northway Mining, LLC, ("Northway") which offers highly specialized data center hosting services for cryptomining, has signed a 2-year, $270,000 per month hosting contract with Proof Computing, LLC., a U.S.-based firm which will yield approximately $6,480,000 million in revenues to Northway over the two years.

The contract encompasses the hosting of about 3,150 miners, including up to 25,000 GPU's, projected to consume about 5 MW hours of electricity per month. Under the terms of the contract, the client is paying a $540,000, or two-month, advance deposit for the hosting services which will cover installation, set up and equipment testing services by Northway. The contract runs from approximately August 1, 2018, to July 31, 2020, and is renewable.

Northway is a cryptocurrency mining hosting facility that provides hosting, electricity, cooling, maintenance, insurance, downtime coverage, OS installation (GPU) assistance, setup and security, and more, including especially low rates for electricity, that reduces client costs and is a major competitive advantage in the marketplace.

The Company had just recently acquired a majority interest in Northway Mining, which has current revenues. In addition, it acquired real estate assets of substantial value including 30 acres of flat surrounding land that will be used for future expansion of Northway's data center facilities. Northway presently has over 5000 square feet of secure crypto mining space.

Dror Svorai, President and CEO, stated, "One of the key reasons we did this acquisition, was that we saw that we were carving out a special niche in this market, where we were not actually competing with cryptomining companies, but we could provide top of the line and state of the art facilities and services that every company in the field would want and utilize. We are not competing with them but are servicing them. That way, the whole market could become our clients? not our competition."

Michael Miranda, President of Northway Mining stated: "As I say in my bio on our website, I firmly believe that cryptocurrency is the future of transactions that will revolutionize the financial industry. This 2-year client contract (the first of many more to come) hints at the pace at which we expect demand for our facilities and services will grow? beginning today. We are leading the way in the marketplace by creating fully-customized data center cryptomining solutions."

About Mining Power Group, Inc.  

Mining Power Group, Inc. was original formed as Rich Cigars to distribute, brand and market tobacco products. Following a change of control in November 2017, it changed its name and shifted its focus to become a holding company for new subsidiary operations serving the cryptomining industry. The Company trades under the symbol "RCGR") and is a fully reporting SEC company listed on the OTC market. The Company has paid the fee and is in the process of submitting its application to OTC Markets in order to uplist to the OTCQB, which it plans to accomplish by September 1, 2018. For additional information on the Company, visit, http://www.miningpowergroup.com.

About Northway Mining, LLC

Northway Mining, LLC, located in Athens, NY, is a crypto mining data center hosting over 1,100 rigs that operate 24/7. It has over 5000 square feet of secure crypto mining space of any type of machines and is fully climate-controlled to assure maximum machine optimal output. It has a unique competitive advantage in its onsite access to 300 Megawatts of electricity at very affordable rates. Its employees have significant experience in cryptocurrency operational systems, the repair of miners, and general computer science and info management systems with a strong interest in all things Bitcoin/crypto/blockchain. For additional information on Northwood Mining, visit, https://www.northwaymining.com
 
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RCGR News: Amended Quarterly Report (10-q/a) 09/19/2018 01:46:17 PM
RCGR News: Amended Quarterly Report (10-q/a) 08/27/2018 02:44:35 PM
RCGR News: Quarterly Report (10-q) 08/21/2018 10:46:57 AM
RCGR News: Notification That Quarterly Report Will Be Submitted Late (nt 10-q) 08/14/2018 04:14:02 PM
RCGR News: Mining Power Group, Inc. (RCGR) Data Center Subsidiary Signs $6,480,000, 2-Year Hosting Contract with Client 08/09/2018 08:00:00 AM
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PostSubject
#1813  Sticky Note Exactly—but interesting timing! Let’s—recap—“Dror-scams”... 12/18–Do CashBowski 08/02/18 11:43:28 AM
#1811  Sticky Note News: Mining Power Group, Inc. (RCGR) Enters into stockbullmomo 08/02/18 08:17:58 AM
#159  Sticky Note Free Shares!!! WALLnut 12/07/17 07:17:55 PM
#2001   You know Guido won’t go for that sh!t...”not CashBowski 09/20/18 11:22:18 PM
#2000   Yeah, we better tell Guido to get out Locksmith 09/20/18 08:34:24 PM
#1999   It’s crazy how much they’re already swiping hand CashBowski 09/20/18 07:19:25 PM
#1998   Thank you Let's see what happens... Have a nice day Juice555 09/20/18 05:32:31 PM
#1997   RCGR is not showing any income or revenue G-OiL-D 09/20/18 05:31:30 PM
#1996   Does it mean a run is coming soon Juice555 09/20/18 04:48:17 PM
#1995   They're doing this one in record time! G-OiL-D 09/20/18 03:49:32 PM
#1994   More Dror-Scams! G, read the last paragraph of this CashBowski 09/19/18 04:34:16 PM
#1993   Cryptocurrency Video!! WALLnut 09/01/18 05:33:24 PM
#1992   I sent them an e-mail..letting them know address pw18 08/31/18 10:39:09 AM
#1991   Yes, they'll get the prices up I'm sure. G-OiL-D 08/30/18 11:08:51 PM
#1990   Good start to a good looking website. WALLnut 08/30/18 10:42:52 PM
#1989   Website operational. G-OiL-D 08/30/18 02:15:49 PM
#1988   Thanks for your opinion Have a good night Juice555 08/29/18 02:25:24 AM
#1987   Juice, I think G’s second paragraph here aligns Locksmith 08/29/18 01:58:02 AM
#1986   Thank you Believe me I have stopped letting the Juice555 08/29/18 01:25:32 AM
#1985   Hard to say Juice. However, these guys G-OiL-D 08/29/18 01:21:46 AM
#1984   Thanks for sharing So what do you think Juice555 08/29/18 12:35:54 AM
#1983   Credit goes to CompassWest for that one, but Locksmith 08/29/18 12:35:39 AM
#1982   Good guess Ls. I would think they still G-OiL-D 08/29/18 12:29:28 AM
#1981   That seems to align with the short lived Locksmith 08/29/18 12:15:26 AM
#1980   On 05/18/2018 Yaniv Nahon filed a G-OiL-D 08/28/18 11:54:27 PM
#1979   Amended 10-Q G-OiL-D 08/27/18 03:21:01 PM
#1978   a friend of mine is having them host pw18 08/24/18 01:13:30 PM
#1977   Hold on a little longer Juice. WALLnut 08/24/18 10:31:41 AM
#1976   There’s a post on the other board with Locksmith 08/24/18 08:01:18 AM
#1975   Got it Thanks Hope it's positive. I been around the Juice555 08/24/18 12:10:01 AM
#1974   Juice. More info on the copied website, still G-OiL-D 08/24/18 12:07:15 AM
#1973   Anything you can share? Have a nice evening Juice555 08/23/18 11:39:19 PM
#1972   Thanks Ls, good info! G-OiL-D 08/23/18 11:16:29 PM
#1971   LOL... Either got a nasty call from Cronos Group CashBowski 08/23/18 01:54:49 PM
#1970   Hmmmmmmmm-wonder what kind of work G-OiL-D 08/23/18 12:51:32 PM
#1969   They have this down to perfection! Wash, G-OiL-D 08/22/18 04:00:17 PM
#1968   More Dror-Scam-bro shares issued: 2M shares that was shown CashBowski 08/22/18 01:36:03 PM
#1967   what did you expect???? pw18 08/22/18 08:06:21 AM
#1966   10-Q is out. What a Joke. G-OiL-D 08/22/18 12:47:29 AM
#1965   Interesting concept. So, building rigs, what are investor2004 08/17/18 08:45:54 PM
#1964   yea..they did....so what?! they converted the building..whats pw18 08/17/18 09:27:08 AM
#1963   The squeeze coming is going to be nasty! spideyman 08/17/18 01:30:55 AM
#1962   Did they turn the Northway Motorcycle Parts store samsamsamiam 08/17/18 01:23:08 AM
#1961   Why are we always late for birthday parties, WALLnut 08/15/18 07:51:42 AM
#1960   It's only late if you expected it on mrw21j 08/15/18 07:32:07 AM
#1959   Go Big $$$$$$$$$$$$$ winner!!!!! CarlCarlMcB 08/15/18 05:21:30 AM
#1958   Late quarterly. G-OiL-D 08/14/18 05:09:45 PM
#1957   Well looking at the pics... I see no slow poke 08/14/18 02:49:45 PM
#1956   Thanks Lock. I was out of town for the CashBowski 08/14/18 09:08:18 AM
#1955   I thought that was odd as well... pw18 08/14/18 08:26:49 AM
#1954   CEO, the most important member of the team, G-OiL-D 08/14/18 12:22:23 AM
#1953   What a week! Excellent work management. wolfjr 08/10/18 11:40:03 AM
#1952   We are up significantly since last Friday. As stockbullmomo 08/10/18 10:34:03 AM
PostSubject