Tulsa, OK, Oct. 28, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- AppSwarm, Corp. (OTC: SWRM ), a software development company and aggregator of mobile applications, announces initial purchase of ASIC mining rigs for its crypto mining operations.
The Company announces the initial purchase of Scrypt ASIC miner rigs that are designed for the purpose of mining Litecoin and Dogecoin. Scrypt is less complex than SHA-256, which makes mining Litecoin and Dogecoin much faster and less energy-intensive.
The Company expects delivery of its initial rigs in early to mid-November, which will then be deployed and scaled up with additional ASIC rigs by the end of the fourth quarter.
Bitcoin Mining Rigs
The Company is also in the process of reviewing initial purchase orders for Bitmain Antminer and other rigs for its Bitcoin mining operations. Data Syndicate will assist us in reviewing initial details such as hash rates, rig costs, and energy consumption so we can quickly deploy rigs into operation while building a framework for scalability.
The goal is to focus our initial Bitcoin mining operations at co-location hosting facilities within the Tulsa region to expedite deployment without needing to outlay capital for infrastructure build-out costs.
A more detailed roadmap and investor presentation on our crypto mining operations will be released shortly. Register for updates on the project at https://tulsalabs.io/investors/
AppSwarm is a technology company specializing in accelerated development and publishing of mobile apps and other software platforms for gaming and business applications and seeks to acquire symmetric business opportunities. AppSwarm partners with and assists other development firms in technology development, business management, and funding needs.
AppSwarm and its affiliate labs are strictly research firms focused on the development of blockchain applications, and in no way is involved with the buying, selling, or issuance of any cryptocurrencies, or investment advice.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements that are subject to risk and uncertainties including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk, and other risks detailed from time to time in the Company's filings with OTCMarkets.com and as required to the Securities and Exchange Commission. These risks could cause SWRM's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company.
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