generation hemp GENH Start the new year with a big announcement. After careful review by the Board of Directors, the company has determined that it has the expertise and desire to scale sustainable energy projects. The first project they are embarking on is Bitcoin mining.
The company currently provides hemp processing to Kentucky at its operating facility.The company will continue to be involved in the industry, but Generation Hemp will change its name to Evergreen Sustainable Enterprises, Inc. (“EGSE”) in the coming weeks. The hemp business will continue as a wholly owned subsidiary.
EGSE has completed the acquisition of Toro Energia Sociedad Anomina (“Toro”) in its first major initiative towards sustainable energy projects. Toro is a hydroelectric dam in Costa Rica with six generators and over 1 megawatt of power. The acquisition he completed for $2,750,000 and EGSE now owns 80% of the dam. The remaining 20% of him will remain with the family that has owned and operated the dam for over 30 years.
Power from the dam is now used for data center hosting facilities for Bitcoin mining. Cryptomining is an energy-intensive process, and using clean energy is not only environmentally friendly, but also a cost-effective source of energy. Additionally, hydropower is a stable and reliable source of energy that is less likely to be hindered by economic or geopolitical events like fossil fuel energy sources.
The company followed up this announcement with a commitment of 240 new Bitmain S19J Pro+ ASIC miners. Bitmain S19J Pro+ is one of the latest ASIC miner models, specially designed for Bitcoin (BTC) mining. With a hash rate of 122TH/s and a power efficiency of 27.5 J/TH, these miners are the most powerful and energy efficient on the market today. The miners will receive containers that ship directly to Costa Rica in February and are already on site, operated and powered by the company’s fully sustainable, green energy hydroelectric dam. This dam is located between two he volcanic craters about 25 miles from San Jose, Costa Rica. These machines are being installed for company-owned self-mining operations, as the company currently has no plans to offer colocation services at this particular hydroelectric plant.
Gary C. Evans, Chairman and CEO of Evergreen Sustainable Enterprises, Inc. All mining sites in development should generate immediate net cash flow for the company during periods when the bitcoin mining sector is down along with the overall capital market. There are currently more than six mining sites under development, including Arkansas, Kentucky and Costa Rica. Due to the extremely low cost of energy and the focus on green-his resources, the joint at the new site he has been approached by various industry insiders about potential ventures and partnerships. Our financial model demonstrates the ability to generate positive cash flow at Bitcoin trading levels significantly below the current price of around $18,000. We have the highest quality, most efficient new equipment at a fraction of the cost of just 6 months ago. ”
The company previously partnered with Crypt Solutions, Inc. (DBA, Cryptech Solutions), one of the largest resellers of Bitcoin mining equipment in North America. Our partnership with Crypt Solutions, which has access to remote green energy sites, is a strategic alliance.
EGSE aims to be in a strong position to dominate the cryptocurrency industry when the market recovers. It will be exciting to see how they further integrate the clean energy sector and the cryptocurrency industry.
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Photo by American Public Power Association on Unsplash