Blockquarry Corp - BLQC stock
OTC Symbol: BLQC | OTC Tier: Pink Current
Company Profile[edit]
BlockQuarry Corp. [OTC: BLQC] is a Nevada-based publicly listed company that advances mining and hosting services in the digital currency sector in America. The company offers energy, mining, hosting, know-how, and infrastructure to operate and manage turn-key cryptocurrency mining activities. It provides sustainable, renewable, and cost-effective energy solutions. It also employs blockchain infrastructure to transform unique identifiable assets (UIAs) into interchangeable digital assets like Bitcoin and other popular fungible assets. The firm was initially known as ISW Holdings Inc. before rebranding to BlockQuarry Corp. in August 2021. The company is headquartered in Reno, Nevada.[1] BlockQuary owns and operates mining sites in Gaffney, SC, Moorehead, NC, and Rutherford, NC. The firm trades on OTC under the BLQC symbol but plans to qualify and seek up-listing to the NASDAQ stock exchange.[2]
Business Operations[edit]
supplying sustainable, low-cost solutions to the cryptocurrency mining ecosystem. Via its blockchain infrastructure services, the company provides cryptocurrency investors with immediate liquidity through fast and confidential transactions and the issuance of digital assets in the capital markets. It also offers third-party crypto-mining operators quality, renewable, eco-friendly energy sourcing, secure, turn-key infrastructure, and hosting and maintenance services. The firm extends its energy cost savings and unique infrastructure to the masses by hosting and supporting third-party miners. BlockQuarry offers individuals, institutions, and investor groups scalable crypto-mining framework, equipment, and maintenance know-how on its secure NEXGEN POD5 mine sites.[3]
The company conducts mining operations from its 40-foot ISO modular containers known as NEXGEN POD5 data centers. These are highly-secured structures designed, customized, and fabricated to handle over 1MW of crypto-mining power. The NEXGEN POD5s are housed in PODPARKS, exclusively designed for the company by BIT5IVE, the firm's infrastructure partner. Each PODPARK can harbor up to 200 NEXGEN POD5s, allowing for 200MW capacity. BlockQuarry’s internal tech and development team and BIT5IVE sharpen the edge of the company’s American-made infrastructure technology. The PODPARKS’ scalability feature enables the company to accommodate internal and partner mining operations and MW capacity at minimal additional operational costs. The parks are each expandable to 200 MW, allowing for rapid mining activity up-leveling.[4]
In November, 2023, BlockQuarry's self-mining operations began with the operation of two pods at the Macon site in Missouri. These two pods are projecting annual revenue from roughly $1.4 million to $1.7 million. In addition, two more pods are expected to come online soon.[5]
Strategy[edit]
America leads the world in cryptocurrency mining, accounting for over 35% of global Bitcoin concentration. BlockQuarry invests in strategic partnerships and top-class technology to mine crypto at minimal costs. The company is determined to become among America’s largest crypto-hosting and mining companies by expanding beyond its current 200MW capacity.[2]
Corporate Developments[edit]
The company acquired all issued and outstanding stock of Blockchain Energy Services, LLC (BES), a Pantheon Resources, Inc. subsidiary, on May 4, 2023. BES is developing a massive data processing site for cryptocurrency mining and AI clients. The company assumed all the assets, liabilities, and leases held by BES. The firm also agreed to issue Pantheon $600,000 worth of Series B Convertible Preferred Stock.[6]
BlockQuarry presented its documents seeking the up-listing of its common shares for trade on the Nasdaq Capital Market. Consequently, the company penned an agreement with a consultant concerning the uplisting move on November 3, 2022. According to the agreement, the firm agreed to issue 300,000 shares of its common stock to the latter in exchange for $300 cash. The consultant was also set to be given additional shares if a reverse stock split ensued to maintain 300,000 shares after the stock split if the stock split was treated as part of the uplisting exchange activity.[7]
BlockQuarry and Bengala Technologies, LLC, signed a technology co-development agreement in June 2018. The two companies agreed to employ blockchain technology to develop and market a platform that shapes industry-related business logistics and services. As of December 31, 2022, the platform development was at its preliminary stages. BlockQuarry channeled $45,284 in cash to Bengala Technologies during the year ended December 31, 2021as part of the payment for the platform development.[8]
Recent Financials[edit]
The company provided its financial and operational updates for the three and nine months that ended September 30, 2022, on December 30, 2022. It recorded an upward trend in revenue generation with $2.098 million, representing 33% on sequential quarter revenue growth. Revenue for the first nine months of 2022 was $4.46 million, compared to $308,803 for the same period in 2021, a year-over-year gain of 1,350%.[9]
Management[edit]
The company keeps a talented team with tremendous experience. The team orchestrates and drives the firm toward its mission of allowing investors to participate in modern digital investing. Its executive team incorporates:
- Alonzo Pierce, Chairman/Founder
- Terry Williams, Officer, and Director
- Arnaldo Detres, Chief Innovation Officer
- Eva Hodgens, Chief Strategy Officer
- Michael Boy, Marketing Advisor
- Alex Grinberg, Chief Risk Officer
- David Kerr, Technology Advisor[10]
Legal Issues[edit]
Legal Settlements[edit]
On November 11, 2022, the firm entered into a settlement agreement with a third-party convertible note holder who had filed a lawsuit against the company for alleged failure to remit $85,000 note payments. The company agreed to settle the feud by paying the plaintiff $50,000 and issuing him 400,000 shares of Series B Preferred Stock and 1,000,000 shares of common stock. The plaintiff also consented to specific lock-up and leak-out terms stipulated by the firm on selling the underlying shares.[11]
ESG[edit]
The company's development strategy is built on efficiency, scalability, and sustainability. Its mine sites operate on clean, eco-friendly energy sources that are fully renewable and advance green mining. The company also gives its clients lower mining costs and high-profit margins. BlockQuarry strives to support local job creation in the US by generating quality long-term job opportunities.[2]
- ↑ BlockQuarry Corp. Profile – Seeking Alpha. Accessed on May 1, 2023
- ↑ 2.0 2.1 2.2 BockQuary/investors – BlockQuarry website. Read on May 1, 2023
- ↑ BlockQuary website/Home. Accessed on May 1, 2023
- ↑ BlockQuarry operations – BlockQuarry website. Accessed on May 1, 2023
- ↑ GlobeNewswire. BlockQuarry Powers Up: Missouri Site Goes Live with 2 MW of Operational Computing Power, Forecasting Immediate Annual Self-Mining Revenues of $1.5 Million. November 30, 2023.
- ↑ BlockQuarry Announces Acquisition of Blockchain Energy Services, LLC, a Pantheon Resources, Inc. Subsidiary – Yahoo Finance. May 4, 2023
- ↑ Blockquarry Corp Annual Report for the period ending December 31, 2022/ Common Stock and Warrants /Page 48 – OTC Markets. Accessed on May 1, 2023
- ↑ Blockquarry Corp Annual Report for the period ending December 31, 2022/ Technology Development /Page 52 – OTC Markets. Accessed on May 1, 2023
- ↑ BlockQuarry Announces Financial and Operational Highlights for the Three and Nine Months Ended September 30, 2022 – BlockQuarry News. December 30, 2022
- ↑ BlockQuarry Team – BlockQuary website. Read on May 2, 2023
- ↑ Blockquarry Corp Annual Report for the period ending December 31, 2022/ – Commitments and Contingencies/Page 51 – OTC Markets. Accessed on May 1, 2023
