Cryptonews out
Puissant Industries Inc. Announces Cryptocurrency Mining Farm Operations
LONDON, KY / ACCESSWIRE / January 10, 2018 / Puissant Industries, Inc. (OTC PINK: "PSSS") ("Puissant") (Corporate Website: psss.co), a publicly traded energy rich company that uses its resources to develop or acquire high growth companies in industries where maximum profitability can be generated, announces that it will begin Cryptocurrency Mining Operations through its wholly-owned subsidiary, American Crypto Mining, Inc. ("American Crypto").
American Crypto's first Cryptocurrency Mining Farm (the "Farm"), estimated to be 50% and 100% operational by the first and second quarters of 2018, respectively, will be equipped with SHA 256 double round hash verification processes and scrypt to validate Bitcoin transactions and provide security for the public ledger of the Bitcoin/Lite coin network. The Bitcoin/Litecoin networks compensate miners for their computational power by releasing newly issued Bitcoin and Litecoin, in addition to transaction fees from validation processes -- the more computing power a Farm contributes to the networks, the greater share of its compensation.
With Bitcoin mining measured in hashes per second, American Crypto's first Farm will have an initial hashing scrypt capability at 56,448 Mh/s and Sha-256 at 1,512,000 Gh/s hashing ability, permitting it to mine across a broad spectrum of cryptocurrencies and conduct Bitcoin/Litecoin mining at competitive levels. Puissant's excess electrical capacity of $0.03 per kilowatt hour will provide American Crypto with comparatively low operational/breakeven costs, which Puissant plans to use, in addition to at least 50% of American Crypto's revenues, to construct multiple Crypto Mining Farms.
Mark Holbrook commented, "We are pleased to expand our operations with Cryptocurrency Mining. Based on the current market for hashing ability as of January 8, 2018, scrypt in Litecoin at 10000 Mh/s pays $10,000 month and Sha-256 in Bitcoin at 100,000 Gh/s pays $5,600 month. You can see our first Farm's capability will have a hashing rate of 5.6448 times theses scrypt rates and 15.12 times the sha-256 rates. Puissant's excess electrical capacity alone could enable American Crypto to construct up to 5 more Crypto Mining Farms."
About Puissant Industries, Inc.
Puissant Industries is a multifaceted energy company that utilizes energy produced from a variety of energy sources to generate the maximum profitability of its assets. The Company seeks to expand into selective fast growing industries where the benefits of is multiple energy resources can make a significant impact on short and long term growth. This includes American Crypto and other industries under evaluation.
About American Crypto Mining, Inc.
American Crypto Mining, Inc. (a Kentucky corporation ) is Puissant Industries' wholly owned subsidiary. Currently constructing and equipping its first Cryptocurrency Mining Farm, American Crypto plans to pursue the construction and operation of multiple farms through revenue reinvestment and excess electrical capacity.
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