“WHEREAS, Priwen owns and operates a cryptocurrency mining business and brand, “XMining,” which currently operates in Montreal, Quebec (“XMining”);
WHEREAS, Priwen is in the cryptocurrency mining business and is seeking to raise capital and grow its operations and brand(s);”
““PRIWEN BUSINESS
Crypto mining : Priwen owns and operates crypto mining equipment. The equipment falls into two classes, ASIC and GPU.
ASIC Hardware: These are purpose built machines with custom-designed circuits (ASIC stands for: Application-Specific Integrated Circuit) that are built for the sole purpose of mining a specific cryptocurrency. They do not use ATX standard parts and cannot be used for any other purpose. They are much more powerful than GPUs and more power efficient. They are meant to run continuously with minimum supervision.
GPU rigs: These are essentially high-end desktop computers that use commonly available ATX-standard components. The rigs use the GPUs on high-end graphics cards to mine cryptocurrencies. They are more expensive than dedicated asics but they are more versatile as they can be configured to mine many different cryptocurrencies.
Activities associated to crypto mining : Priwen has built accessories (power supplies etc.), hosted equipment, built its own GPU equipment, looked at ways of improving existing equipment, considered software development options and spoken with miners needing engineering assistance (consulting). Priwen is and will continue to continue to be in the more global crypto mining market thus enabling diversification and diminishing the risk of being exposed to one area of the industry.
General engineering : Priwen has engineered an industrial smartwatch and done some consulting for individuals in the audio business. While Priwen will remain focused on points 1 and 2, in the interest of the company and shareholder value, we will listen to other opportunities that could build on the existing knowledge base and leverage our current business model and contacts.””
If you haven't learned yet, most posts on a message board are in the writer's opinion. All of my posts are in my opinion (IMO)......do your Due Diligence (DD) and make up your own mind!
