Auzzi Shopping

Men's Weekly

.

Pow.re Announces Successful Closing of US$9.2 Million Series A, US$18 Million Strategic Partnership in Paraguay and Advisory Board Appointments

  • Written by Auzzi Shopping

MONTREAL (QC), CANADA - Media OutReach - 2 February 2023 - Pow.re Holdings Limited ("Pow.re" or the "Company"), a high-density computing ("HDC") proof-of-work digital mining and fintech enterprise, has closed a US$9.2 million Series-A funding round at a US$150 million post-money valuation.

Haru United Pte Ltd. ("Haru") - a holding company of asset management platform, haruinvest.com - led the round joined by Trinito Corporation, RFD Capital Pte Ltd and others.

Pow.re is also pleased to announce an US$18 million strategic investment from Haru and partnership in the Company's first HDC site in Paraguay.

"We are grateful to our strategic partner and investors for their support and conviction in our execution capabilities." said Calvin Tay, Pow.re's Group CFO. "This mandate will enable us to accelerate our growth and capitalize on opportunities in current market conditions."

These investments provide the Company means to execute its counter-cyclical ASIC purchasing and infrastructure growth strategy. Pow.re will tactically drive infrastructure growth by maximizing use of capacity in existing Canadian facilities while building out further capacity at new HDC facilities.

The Company's new facilities in Paraguay will be energized through agreements between Pow.re and the Administración Nacional de Electricidad Ande ("ANDE" - national power distributor). Paraguay's grid is powered almost completely by hydropower and the country has ample additional sustainable energy production, approximately double its own use.

The Company remains on track to operate over 500 petahash per second of hashing power within 1Q23. Pow.re's first Paraguayan facility began operations late January and the second facility by the end of 1Q23. Pow.re's pipeline of several 100MW hydro-powered opportunities is coming to fruition, and the company remains diligent in its pursuit of growth.

Finally, Pow.re is excited to welcome two digital mining veterans to its advisory board:

Anthony Levesque, Former VP, Operations at Bitfarms (NasdaqGM: BITF) and; Carson Smith, CEO of SBI Crypto.

These advisors bring proven success and complementary experience in digital assets that will contribute to the Company's ongoing growth.

Hashtag: #Pow.re

The issuer is solely responsible for the content of this announcement.

About Pow.re Holdings Limited

Pow.re is a PoW digital miner deploying HDC data centers in proximity to sustainable stranded energy sources to produce hashing power. Pow.re will leverage its growing proprietary hashing power, to commodify hashing power markets and capacitate hedging and investment.

Company Website :
LinkedIn :
Twitter : @powremines

Today's Features at Auzzi

Fast and Reliable Services for Car Removal Melbourne

Looking to get rid of an old or unwanted vehicle? Car removal Melbourne services offer a simple, quick, and eco-friendly solution. Whether it’s an accidental write-off, an old junk car...

Ceiling Fans Adelaide: Efficient Comfort for Every Season

With Adelaide experiencing hot, dry summers and cooler winters, many homeowners are turning to ceiling fans Adelaide suppliers recommend for an affordable and efficient way to maintain co...

When to Replace Ageing Fuel Tanks to Avoid Downtime

Think about any big industry. Chances are, fuel tanks are used there to hold and deliver the power that makes everything go. However, like any other container, fuel tanks break down over t...

How to Care for Your Dental Implants: Tips for Long-Term Success

Dental implants are a revolutionary way to replace lost teeth since they provide a long-lasting, long-looking, and permanent replacement. They represent a substantial investment in your gene...

Solar Panel Trends Shaping Modern Project Homes in Australia

Modern Australian homeowners are increasingly looking to integrate energy-efficient solutions into their new builds. Solar panels are one of the most popular choices for project homes, offer...

3 Moving Company Tips for First-Time Homeowners in Australia

Moving into your first home in Australia is exciting but can also feel overwhelming. Between packing, coordinating logistics and managing the emotional side of leaving a familiar space, it...

What to Do When Pests Invade Your Home

Unwanted pests are more than just a nuisance. They can damage your property, contaminate food, and create an uncomfortable living environment. For many Australian homeowners, the appearance ...