The first decentralized cryptocurrency, Bitcoin, was created in 2009. Since then, cryptocurrencies have become incredibly popular and have even been introduced by several financial institutions. In fact, the banking and financial services application area is expected to be the largest market size in the blockchain and encryption markets. Globally, countries have also begun to take more seriously the potential of digital currencies. El Salvador, for example, recently became the first country in the world to introduce Bitcoin as a legal tender, which could start a trend in Latin American countries. “The market is now focusing on deployment through El Salvador and whether other nations will follow,” said Richard Galvin of the Digital Asset Capital Management cryptographic fund in his report Reuters. “This could be a key catalyst for bitcoin over the next two or three years.” ISW Holdings Inc., Riot Blockchain, Inc., HIVE Blockchain Technologies Ltd., Hut 8 Mining Corp., Marathon Digital Holdings, Inc.
Countries like El Salvador have good reasons to make Bitcoin a legally accepted currency, including inflation concerns, confidence in the U.S. dollar, and a way to attract technical entrepreneurship. “It brings economic inclusion, investment, tourism, innovation and economic development to our country,” said President Nayib Bukele in his tweet. Shortly afterwards, leaders in Argentina, Brazil, Panama and Paraguay have also supported change on social media. Walter Pimenta, senior vice president of products and innovation at Mastercard LAC, explained that as interest in cryptocurrencies as a payment method accelerates, nearly 4 in 10 people (37%) in Latin America and the Caribbean say they plan to use them next year. It is noteworthy that the propensity to use cryptocurrencies has been highlighted in the younger segment: 61% (67% of the millennium) are more willing to use them now than a year ago; 74% (79% of the millennium) are interested in learning more about cryptocurrencies, and 72% (76% of the millennium) say they will use them more if they understood them better.
ISW Holdings Inc. (OTC: ISWH) just announced the classification of the news, “the delivery of a fleet of 300 cryptocurrency miners to the new POD5IVE Mining enclosures.
“This is a huge step and we are excited to be able to increase efficiency and scale by installing this large mining rig order,” said Alonzo Pierce, President and President of ISW Holdings. “We will have more miners on the way in the coming weeks and months as we further develop our ability to make money in this area from your investments over the past year.”
Management notes that new mining capacity has become increasingly difficult due to increased demand for mining equipment as well as a global shortage of microplay games. In partnership with Bit5ive LLC (“Bit5ive”), the company was able to leverage strong relationships to gain access to expanded production capacity, which will also go through a process to increase production capacity in the coming weeks and months.
In addition, Bit5ive’s Central American Bitmain distribution license includes the country of El Salvador, and ISWH is currently exploring related opportunities with its joint venture with Bit5ive.
The company is currently continuing to increase its diversification operations. Given its current energy contracts and the high efficiency of its mine cabinet design, its mining operations are significantly profitable at current Bitcoin prices.
ISW Holdings continues to build a carbon-neutral footprint in its cryptocurrency mining operations. “