Sysorex Inc (SYSX)

[stocksbelow1]

Initial impression is from the shares offered in purchase of Flagship data center (Up North Hosting LLC)which is now 100% owned by Sysorex. Looks like UPC may have been strapped for cash and has been selling the SYSX shares they received in the sale. Don't know for sure, but we'll see. I'm sure they will also be keeping shares for long term.

HERNDON, Va., Nov. 04, 2021 (GLOBE NEWSWIRE) -- Sysorex (OTCQB: SYSX), the preeminent, U.S.-based, publicly traded Ethereum mining and technologies company, today announced that it has completed the acquisition of the remaining 50% of the upstate New York data center that houses the majority of its approximately 500 Gigahash of compute capacity, which is online, continuously mining Ethereum and securing the Ethereum Blockchain.


Up North Hosting LLC, a data center owner and operator in upstate New York, was previously jointly owned by businesses controlled by Sysorex’s recently appointed Chief Technology Officer, cryptocurrency industry veteran Brian Raymond, and Sysorex. Sysorex now owns 100% of the data center, which offers the Company immediate access to additional capacity to expand its mining operations. The purchase also included approximately 1000 GPUs, which presently increases mining capacity by approximately ten percent. The purchase price paid by Sysorex for the balance of the data center and GPUs was $1,000,000 and 1,000,000 shares of restricted Sysorex common stock.