American Premium Mining Corp. (OTC: HIPH) Completes Acquisition of CloudXchange DataCentre Inc. and Begins First Phase of Crypto Mining in Singapore
PLAYA VISTA, CA, May 08, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – American Premium Mining Corporation (OTC:HIPH) ("APM" or the "Company”) is pleased to announce that CloudXchange DataCentre Inc. (“CloudX”), a wholly owned subsidiary that engages in crypto-mining and staking related activities has received delivery and completed the installation of its first phase of crypto mining rigs in Singapore, with all of them now being fully operational. On April 24, 2022, the Company announced its plans to acquire CloudX to focus on crypto-mining related businesses with an earnings guarantee of US$1.5 Million for the first 12 months by the Seller.
As part of CloudX risk management strategy, CoudX has diversified its crypto mining rigs operations across multiple currencies, geographies, and service providers. The first phase of crypto mining rigs in Singapore consists of a combination of the following mining rigs:
Innosilicon A11 crypto mining rigs, mining Ethereum (“ETH”);
Bitmain Antminer L7 crypto mining rigs, mining Litecoin (“LTC”) and Dogecoin (“DOGE”);
Goldshell KD6 crypto mining rigs, mining Kedana (“KDA”).
Moving forward, CloudX will be focusing its efforts to complete the second phase of crypto mining acquisition plan, consisting of Bitmain S19J Pro crypto mining rigs, mining Bitcoins (“BTC”). Bitmain is one of the world leading manufacturers of cryptocurrency mining rigs, with S19J Pro being a top-of-the-line model and considered to be one of the most productive and energy-efficient mining rigs in the market.
Ryan Fishoff, CEO of APM, commented, “APM is excited to announce the completion of the CloudX acquisition. This will be transformative for the Company. APM has already announced a name change to reflect the change in strategic focus. Now that the acquisition of CloudX is complete, the Company is focusing on crypto mining. The first phase of our plan has already begun, and we look forward to adding more miners to our portfolio to reach our $1.5 million earnings target. I look forward to updating shareholders about our progress integrating CloudX and the next phase of our integration.”
CloudX is on track to scale up its mining operations to meet the US$ 1.5 Million earnings target within the first 12 months of full operation and will continue to proactively explore new partnerships and integration with renewable energy as part of the Company’s focus on sustainability while maximizing shareholder value.
About CloudXchange DataCentre Inc.
CloudXchange DataCentre Inc. is a holding company which is engaged primarily in investment within the cryptocurrency industry with a focus on crypto-mining and staking activities. CloudX endeavors to leverage the potential of the cryptocurrency space to generate predictable revenues and operating income.
About American Premium Mining Corporation
American Premium Mining Corporation (“APM”) is focused on supporting the blockchain ecosystem through proof-of-work and proof-of-stake mining of the leading cryptocurrencies. APM is at the forefront of the digital finance revolution.
This press release includes statements that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control, and which may cause results to differ materially from expectations. For a discussion of the most significant risks and uncertainties associated with the Company's business, please review our filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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