CurrencyWorks Crypto Mining Division Provides Update on its Eco-Friendly Zero-Cost Energy Mining Implementation
Los Angeles CA, Oct. 21, 2021 (GLOBE NEWSWIRE) — CurrencyWorks Inc. (“CurrencyWorks” or the “Company”), (CSE: CWRK and OTCQB: CWRK), a full service blockchain platform provider, is pleased to provide an update on its Eco-Friendly Zero-Cost Energy Crypto Mining implementation.
CurrencyWorks has designed and is implementing its Zer00™ crypto mining platform a proprietary integrated process utilizing a thermal treatment (not burning) of waste to generate energy which will power CurrencyWorks’ Zer00™ crypto mining platform, www.currencyworks.io/zer00.
The initial scalable units will now be able to process not only Municipal Solid Waste (“MSW”) but will have the capability to also process Oilfield Waste generating enough power to run up to 200 cryptocurrency mining machines. The energy generated is environmentally friendly, is designed to be self-sustainable converting waste to energy with zero emissions in the process. The important net economic result is a zero cost of energy to run CurrencyWorks’ crypto mining operations.
“Having an eco-friendly solution with zero energy costs is game changing for the crypto mining industry. Now that we are going to also be processing Oilfield Waste as well as MSW, we have another abundant fuel source available to scale our mining solution.” said Cameron Chell, CurrencyWorks Chairman.
According to recent research by Facts & Factors, the global Cryptocurrency Market was estimated at USD $792.53 Million in 2019 and may reach USD $5,190.62 Million by 2026. The global Cryptocurrency Market anticipates growing at a compound annual growth rate (CAGR) of 30% from 2019 to 2026.
CurrencyWorks Inc. (CSE: CWRK and OTCQB: CWRK) is a publicly-traded company that builds and operates FinTech Platforms for Digital Currencies, Digital Assets, and Security Tokens.
For more information on CurrencyWorks, please visit us at www.currencyworks.io. For additional investor info visit www.currencyworks.io or www.sedar.com and www.sec.gov searching CWRK.
Bruce Elliott, President
Disclaimer for Forward-Looking Statements
This news release contains “forward-looking statements.” Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things: that the Company will develop and implement a Zer00™ crypto mining platform; that the initial scalable thermal units will produce sufficient power per day to operate up to 200 of the Company’s cryptocurrency mining machines; and that the Company’s Zer00™ crypto operations will be developed and become operational and scaling Q1 2022.
The material assumptions supporting these forward-looking statements include, among others, that the thermal units will operate as expected and provide the electricity as projected; there will be no material variations in current regulatory environments in which the Company operates; that the Company will purchase cryptocurrency mining machines; and the Company will be able to obtain any necessary financing on acceptable terms. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. These forward-looking statements are only predictions and involve known and unknown risks, uncertainties and other factors, including: the risk that Fogdog will not be successful in developing its thermal power generation will or that such unit will be commercially available; the risk that the Company will not be able to purchase cryptocurrency mining machines at all or at reasonable prices; the risk that the Company will be unable to efficiently build the blockchain solutions; the risk that there may be negative changes in general economic and business conditions; the risk that the Company may have negative operating cash flow and not enough capital to complete the blockchain solutions; the risk that the Company may not be able to obtain additional financing as necessary; the risk that there may be increases in capital and operating costs as a result of working on the blockchain solutions; the risk that the blockchain solutions may be subject to fraud and other failures; the risk that there may be technological changes and developments in the blockchain that make the blockchain solutions obsolete; risks relating to regulatory changes or actions which may impede the development or operation of the blockchain solutions; the risk that other competitors may release similar blockchain solutions; and other general risks involved in the blockchain solutions.
Any of these risks may cause the Company’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Further, although the Company has attempted to identify factors that could cause actual results, levels of activity, performance or achievements to differ materially from those described in forward-looking statements, there may be other factors that cause results, levels of activity, performance or achievements not to be as anticipated, estimated or intended. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that any beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. The Company does not assume any liability for disclosure relating to any other company mentioned herein.