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Mining Power Group (MPGR)

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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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#1813  Sticky Note Exactly—but interesting timing! Let’s—recap—“Dror-scams”... 12/18–Do CashBowski 08/02/18 11:43:28 AM
#159  Sticky Note Free Shares!!! WALLnut 12/07/17 07:17:55 PM
#2422   You would think that a 'well managed' G-OiL-D 11/07/18 08:55:05 PM
#2421   Ticker change now officially announced. eebbee 11/07/18 05:26:24 PM
#2420   There’s no L2, but I can see detailed CashBowski 11/07/18 02:44:18 PM
#2419   I understand Weird nothing is showing up on my Juice555 11/07/18 02:22:45 PM
#2418   Juice, I responded to myself by accident. CashBowski 11/07/18 02:19:22 PM
#2417   There’s been endless supply on the ask showing 29k. CashBowski 11/07/18 02:18:42 PM
#2416   Who's selling? shareholders didnt receive their Sukhoi 11/07/18 12:29:31 PM
#2415   Not really what I expected today... Juice555 11/07/18 12:25:45 PM
#2414   Thanks, Juice. Looking forward to it!! Deeznuts 11/07/18 10:02:31 AM
#2413   Yes it doesn’t work for me but I Juice555 11/07/18 10:01:28 AM
#2412   Is L2 working for MPGR? It is Deeznuts 11/07/18 09:59:56 AM
#2411   i'd be happy with it holding 20c... pw18 11/07/18 09:57:24 AM
#2410   Huge potential today any targets? Stabbakilla 11/07/18 08:37:11 AM
#2409   MAXM in this instance represents a retail buyer/seller...fact.. pw18 11/07/18 07:54:51 AM
#2408   Great work CB! G-OiL-D 11/06/18 09:57:01 PM
#2407   I hope this time I will know when Juice555 11/06/18 06:58:26 PM
#2406   Yup, he is and you’re right on about CashBowski 11/06/18 06:56:29 PM
#2405   Thanks. I hope it will get close to Juice555 11/06/18 06:41:18 PM
#2404   That was fast. Request was processed immediately — CashBowski 11/06/18 06:36:38 PM
#2403   Hello Cash, Hope things are going well... Do you have Juice555 11/06/18 06:02:51 PM
#2402   RCGR -> MPGR at midnight. I’ve submitted a CashBowski 11/06/18 05:29:44 PM
#2401   This pos going to 1.00+++ Stabbakilla 11/06/18 04:48:08 PM
#2400   hmm... i know im nuts...but i think our lil pw18 11/06/18 04:46:55 PM
#2399   This is free $ right here $RCGR Stabbakilla 11/06/18 01:59:44 PM
#2398   May have bought way too many shares!!! Deeznuts 11/06/18 01:59:10 PM
#2397   This ticket is going above .50 tomorrow and Stabbakilla 11/06/18 01:36:36 PM
#2396   Nice Stabbakilla 11/06/18 01:00:24 PM
#2395   Thanks Hope it means we will see another nice run Juice555 11/06/18 10:47:27 AM
#2394   Yep, also Dror filed a new company G-OiL-D 11/06/18 10:43:01 AM
#2393   new ticker MPGR as per twitter...effective tmrw pw18 11/06/18 10:42:57 AM
#2392   Where do you see that? Juice555 11/06/18 10:26:37 AM
#2391   Wow low float Stabbakilla 11/06/18 10:21:35 AM
#2390   symbol and name change official tmrw.. pw18 11/06/18 10:07:23 AM
#2389   Exactly! For their shareholders, their first right reads: G-OiL-D 10/31/18 10:40:53 PM
#2388   As in Maranda(sp) rights? LOL!!! Locksmith 10/31/18 07:43:25 PM
#2387   This says Maranda is the CEO of G-OiL-D 10/31/18 04:19:10 PM
#2386   Very prophetic. willlbone 10/30/18 11:34:55 AM
#2385   Where did all the pumpers go. R39838 10/27/18 03:08:43 AM
#2384   "shabbot shalom" friends...have a safe weekend.. pw18 10/26/18 03:08:02 PM
#2383   thanks for the warm regards.....back at ya :) pw18 10/25/18 03:23:42 PM
#2382   Pump and DUMP. Bid 10 cents. willlbone 10/25/18 02:44:46 PM
#2381   Nice. I figured that’s about where you needed CashBowski 10/25/18 02:35:02 PM
#2380   i sold enough yesterday..to not be TOO pissed pw18 10/25/18 02:27:29 PM
#2379   JB, you’ve known me long enough to know CashBowski 10/25/18 02:21:22 PM
#2378   Some folks just don't want to hear G-OiL-D 10/25/18 02:01:13 PM
#2377   You lost me at “this ceo has the CashBowski 10/25/18 01:27:56 PM
#2376   cash youve tried to explain it to him Jbb4321 10/25/18 01:20:09 PM
#2375   They’re called a Pump and Dump for a CashBowski 10/25/18 01:16:48 PM
#2374   The One Pump Chump Crew!! Haha LMAO WALLnut 10/25/18 12:39:16 PM
#2373   $$$$$$$$$$ oristock 10/25/18 09:17:18 AM
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