BlockQuarry Corp (BLQC)

[Louied91]

$BLQC BlockQuarry Corp. Shapes the Future with AI-Driven Data Storage and High-Performance Computing

https://www.globenewswire.com/en/news-release/2024/07/16/2913687/0/en/BlockQuarry-Corp-Shapes-the-Future-with-AI-Driven-Data-Storage-and-High-Performance-Computing.html

HOUSTON, July 16, 2024 (GLOBE NEWSWIRE) -- via IBN – BlockQuarry Corp. (OTC: BLQC), a leading Texas-based energy and infrastructure company, continues its strategic shift from its traditional bitcoin mining operations to AI-driven data storage and high-performance computing (HPC). This move positions BlockQuarry at the forefront of technological innovation, catering to the rapidly growing demands for advanced computing solutions.

BlockQuarry is transitioning its focus to AI and HPC to align with market trends and capitalize on emerging opportunities. This pivot positions BlockQuarry in the middle of a rapidly growing sector, with the global AI market projected to grow significantly in the coming years. The global AI market is expected to reach $390.9 billion by 2025, expanding at a compound annual growth rate (CAGR) of 37.3% from 2020?. Similarly, the HPC market is anticipated to grow at a CAGR of 6.7% to nearly $50 billion by 2027.

The new AI and HPC facility will utilize cutting-edge technologies to offer robust data storage and processing solutions. These advanced technologies will enable real-time data analysis, significantly enhancing operational efficiency and productivity. With AI and HPC applications becoming crucial in sectors such as healthcare, finance, and commercial retail, BlockQuarry’s transition positions the company to meet the increasing demand for sophisticated computing capabilities.

The demand for HPC solutions is expected to surge, driven by the growing complexity of scientific research, the expansion of big data analytics, and the integration of AI technologies across various industries. The global HPC market was valued at $36 billion in 2020 and is projected to reach $55.1 billion by 2028, growing at a CAGR of 6.5% from 2021 to 2028?. This strategic pivot allows BlockQuarry to address this demand effectively and capture a significant share of these valuable markets.

“Our strategic pivot towards AI-driven data storage and HPC marks a pivotal moment for BlockQuarry. By focusing on AI and HPC, we are not only addressing current market needs but also positioning ourselves for future growth,” said Alonzo Pierce, president and chair, BlockQuarry Corp.

This transition is expected to significantly enhance BlockQuarry’s revenue streams, with the new facility projected to generate substantial income. By leveraging AI and HPC, BlockQuarry aims to achieve higher operational efficiency and profitability, driving long-term value for shareholders.