BlockQuarry Corp (BLQC)

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$BLQC Blockchain Solutions Establish Synergies With Innovative Service Providers

https://www.prnewswire.com/news-releases/blockchain-solutions-establish-synergies-with-innovative-service-providers-301757712.html

NEW YORK, Feb. 28, 2023 /PRNewswire/ -- The price of Bitcoin continues to hover around the USD 24,000 mark as of Monday evening, indicating a 29% increase since the beginning of the year. Despite the recent regulatory setbacks related to cryptocurrencies and the blockchain ecosystem, the overall market is projected to grow. According to Allied Market Research, the global cryptocurrency market size is projected to reach USD 4.94 Billion by 2030 while growing at a CAGR of 12.8% from 2021 to 2030. The increased demand for operational efficiency and transparency in financial payment systems, including data security, are major factors that drive the growth of the global cryptocurrency market. Additionally, an increased demand for cryptocurrency among banks and financial institutions provides a lucrative opportunity for market expansion during the forecast period. Paypal, a company focused on online payment systems, announced on October 21st, 2020 that customers may buy and sell Bitcoin and other cryptocurrencies using their PayPal accounts. Furthermore, Mastercard partnered with Island Pay to launch the world's first CBDC-linked Card on February 10th, 2021. BlockQuarry Corp. (OTC: BLQC), Applied Digital Corporation (NASDAQ: APLD), Hut 8 Mining Corp. (NASDAQ: HUT), Bitfarms Ltd. (NASDAQ: BITF), Stronghold Digital Mining, Inc. (NASDAQ: SDIG)

Overall, the cryptocurrency market has gotten even more complex as the blockchain technology has been integrated into our world. For example, one of the largest crypto exchanges, Coinbase, announced this week that it is delving deeper into traditional financial services, allowing users to deposit paychecks directly into their online accounts. "With direct deposit, customers can more easily access our crypto-first financial services and be ready for any trade or purchase," Max Branzburg, Vice President of Product at Coinbase, said in a blog post. "We're determined to deliver the most trusted full suite of crypto-first financial services to our 68 million users."

BlockQuarry Corp. (OTC: BLQC) announced last month that, "the following developments to its shareholders.

The Company has signed an LOI with Minerset Holdings LLC, a Delaware limited liability company, to merge with BlockQuarry Corp. The LOI is to execute a full merger between both companies, subject to the execution of a definitive agreement.

The definitive agreement will include the terms of the full merger as well as the structure for the remaining entity. Once the full agreement is approved and the details are available for public dissemination, shareholders will be notified via official press release.

Alonzo Pierce, president and chair of BlockQuarry, stated, 'This exciting announcement has been in the works for quite a while now. The knowledge and experience Minerset will bring on board with us is invaluable. Minerset is the perfect fit for BlockQuarry, as they are firm believers, as we are, in green sustainable mining and understand how important the use of renewable energy is to ensure a sustainable crypto ecosystem.'

Pierce continued, 'This move also provides a broader global platform for BlockQuarry as well as a whole new sales and customer service division that we haven't had before. Additionally, the added revenue to our balance sheet should help bolster our standing in the public markets and could add additional value to both our current and future shareholders as well as the Company itself. This is especially important as we continue our efforts for a Nasdaq uplisting.'

Known as a leader in cryptocurrency mining hardware sales and logistics, Minerset has generated more than $300 million in revenue, distributing 120,000-plus crypto mining devices to hundreds of customers worldwide. The company's website, minerset.com, launched in early 2017 and has established itself as a one-stop-shop solution for all digital mining needs, accessible only within the company's comprehensive ecosystem:

– Supplying the latest digital mining hardware and infrastructure.
– Providing streamlined, safe and secure logistics.
– Enabling access to a global network of renewable mining farm projects providing complete hosting solutions.

Elias Fernandez Sanchez, CEO of Minerset, stated, 'We are incredibly excited about the future partnership between BlockQuarry and Minerset. We feel the synergies between the two companies are perfect to bring together to combine forces. Execution of this merger will bring a symbiotic relationship combining Minerset's expertise, revenues and assets. We feel this is the first step for both companies to make a big splash, and the future looks exciting.'

Pierce concluded, 'This agreement is hopefully the first step in a large, long-term plan that BlockQuarry has laid out in order to make a household name for itself globally. We believe the value that Minerset will bring is going to exceed anything we have done so far for the Company, our shareholders and investors. We look forward to providing additional updates on this as we go.'"