- TSX-V: CBITC$0.17
- OTCQX: CBTTF US$0.12
- CBIT Total Active Hash Rate: 166 PH/S
Fortress Technologies Announces Purchase of 600 Bitmain Antminer S19 XP Bitcoin Mining Machines, Increasing Contracted Hash Rate to 729 PH/s
November 22, 2021
TORONTO, Nov. 22, 2021 (BUSINESS WIRE) -- Fortress Technologies Inc. (TSX-V: FORT) (the “Company” or “Fortress”), a Bitcoin company that develops and operates world-class bitcoin mining infrastructure, is pleased to announce the purchase of 600 Bitmain Antminer S19 XP (140 TH/s) bitcoin mining machines. At 21.5 J/TH, the S19 XP is the most efficient bitcoin mining machine on the market, requiring 27% less energy per unit of hash rate than Bitmain’s S19 Pro. The machines are expected to be delivered in equal monthly installments from July through December 2022.
The purchase adds 84 PH/s to the Company’s total contracted hash rate, increasing Fortress’s total contracted hash rate to 729 PH/s. Since the appointment of new leadership less than two months ago, Fortress has grown its active and contracted hash rate by 126% and 311%, respectively.
About Fortress Technologies
Fortress Technologies Inc. (TSX-V: FORT) is a Bitcoin company that develops and operates world-class bitcoin mining infrastructure.
Fortress believes sound money and cheap, abundant energy are the fundamental ingredients to human progress, and is committed to advancing both by working closely with the energy sector to secure the Bitcoin network. Today, Fortress owns 163 PH/s across various sites around the United States and expects to deploy an additional 32 PH/s and 534 PH/s in Q4 2021 and 2022, respectively. Upon the full deployment of its purchased machines, Fortress’s hash rate will total 729 PH/s. The Company is focused on expanding its portfolio of hash rate through a diversified approach to site selection and operations, utilizing multiple energy sources across various jurisdictions.
For further information, please contact:
Chief Financial Officer
604 477 9997
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