Phase 1 Go Live

Fort Stockton, Texas – December 2nd, 2022 – Cormint Data Systems, Inc. (“Cormint”), an emerging Bitcoin miner focused on mining low-cost Bitcoin at scale while supporting a reliable and renewable power grid, announced today its successful energization of its first 24 MVA of self-mining capacity at its Fort Stockton site.  

Building on the successful acquisition of the transmission assets of the Sherbino 1 Wind Farm following its decommissioning by its previous owner, Cormint has now secured ISO Approval to scale its Fort Stockton site to 130MW, and energized its first 24 MVA of self-mining capacity.   Known as “Phase 1” of the development plan, it included the deployment of a mixed fleet of 4,608 ASICs composed of Bitmain S19 Pro’s using a proprietary immersion solution.    The immersion solution deployed is the 3rd iteration of the design originally conceived in 2018 at Cormints New York test facility.   “We are delighted to see four years of planning and development come to fruition in this deployment” said Jamie McAvity, Cormint’s President.  

Looking ahead, the expansion plan continues on schedule with a further 18MVA of capacity expected to be energized by August 2023 as it scales towards 130MW at its Fort Stockton site.  

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Please note that this press release is for informational purposes only and it does not represent an offer to sell or the solicitation of an offer to buy any of Cormint’s securities.

This press release contains a number of forward-looking statements. Words such as “expect,” “will,” “working,” “plan” and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. These forward-looking statements reflect Cormint’s current views with respect to, among other things, future events. These forward-looking statements are not guarantees of future results and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond Cormint’s control. Important factors that may cause actual results to differ materially from those in the forward-looking statements include, but are not limited to Cormint’s ability to deliver and execute on its strategic plans; Cormint’s ability to maintain free cash flows and increase its operating margins and other risks related to Bitcoin mining.