Business Daily Media

Men's Weekly

.

Pow.re Announces Successful Closing of US$9.2 Million Series A, US$18 Million Strategic Partnership in Paraguay and Advisory Board Appointments

MONTREAL (QC), CANADA - Media OutReach - 2 February 2023 - Pow.re Holdings Limited ("Pow.re" or the "Company"), a high-density computing ("HDC") proof-of-work digital mining and fintech enterprise, has closed a US$9.2 million Series-A funding round at a US$150 million post-money valuation.

Haru United Pte Ltd. ("Haru") - a holding company of asset management platform, haruinvest.com - led the round joined by Trinito Corporation, RFD Capital Pte Ltd and others.

Pow.re is also pleased to announce an US$18 million strategic investment from Haru and partnership in the Company's first HDC site in Paraguay.

"We are grateful to our strategic partner and investors for their support and conviction in our execution capabilities." said Calvin Tay, Pow.re's Group CFO. "This mandate will enable us to accelerate our growth and capitalize on opportunities in current market conditions."

These investments provide the Company means to execute its counter-cyclical ASIC purchasing and infrastructure growth strategy. Pow.re will tactically drive infrastructure growth by maximizing use of capacity in existing Canadian facilities while building out further capacity at new HDC facilities.

The Company's new facilities in Paraguay will be energized through agreements between Pow.re and the Administración Nacional de Electricidad Ande ("ANDE" - national power distributor). Paraguay's grid is powered almost completely by hydropower and the country has ample additional sustainable energy production, approximately double its own use.

The Company remains on track to operate over 500 petahash per second of hashing power within 1Q23. Pow.re's first Paraguayan facility began operations late January and the second facility by the end of 1Q23. Pow.re's pipeline of several 100MW hydro-powered opportunities is coming to fruition, and the company remains diligent in its pursuit of growth.

Finally, Pow.re is excited to welcome two digital mining veterans to its advisory board:

Anthony Levesque, Former VP, Operations at Bitfarms (NasdaqGM: BITF) and; Carson Smith, CEO of SBI Crypto.

These advisors bring proven success and complementary experience in digital assets that will contribute to the Company's ongoing growth.

Hashtag: #Pow.re

The issuer is solely responsible for the content of this announcement.

About Pow.re Holdings Limited

Pow.re is a PoW digital miner deploying HDC data centers in proximity to sustainable stranded energy sources to produce hashing power. Pow.re will leverage its growing proprietary hashing power, to commodify hashing power markets and capacitate hedging and investment.

Company Website :
LinkedIn :
Twitter : @powremines

News from Asia

Discover Qianhai’s Talent Appeal from a "72-Hour Experience Pass"

SHENZHEN, CHINA - Media OutReach Newswire - 8 September 2025 - Recently, a "Shenzhen-Hong Kong 72-Hour Experience Pass" has drawn the attention of young "makers" from around the world. The experie...

Nominations for the Broermann Medical Innovation Award 2026 now open

With a million euros, it is one of the world’s most highly endowed awards for medical researchHAMBURG, GERMANY - Newsaktuell - 5 September 2025 - The nomination period for the Broermann Medical In...

ONYX Hospitality Group Spotlights Shama Serviced Apartments: Redefining Urban Living Across Asia

BANGKOK, THAILAND - Media OutReach Newswire - 8 September 2025 - As urban professionals increasingly turn to serviced apartments for a better balance of work, family, and lifestyle, ONYX Hospital...

Solar power project transforms desert into energy hub

ORDOS, CHINA - Media OutReach Newswire - 8 September 2025 - From September 16 to 17, 2025, the 10th Kubuqi International Desert Forum will convene in Ordos, Inner Mongolia Autonomous Region...

AVATR VISION XPECTRA Makes Global Debut, AVATR Original Design Aesthetics Captivate Munich

MUNICH, GERMANY - Media OutReach Newswire - 8 September 2025 - AVATR Technology hosted the "AVATR Brand Day: A Brilliant New Horizon" at UTOPIA München and unveiled the world's first emotional int...

Launch of the World’s First AI Organizer — Bika.ai

Buzz in Silicon Valley as It Redefines the Future of the “One-Person Company”HONG KONG SAR - Media OutReach Newswire - 9 September 2025 - A pioneering AI team today announced the launch of Bika.ai...

Planner At Large Founder Announces Release Of Début Book Swimming Downstream

Award-winning consultant Judd Labarthe launches a much-anticipated book, Swimming Downstream, challenging conventional marketing wisdom with practical, evidence-based guidanceSINGAPORE - Media Out...

Tineco Celebrates 9.9 with Promotional Prices Storewide and New S9 Artist Breeze

Tineco has launched a storewide limited-time promotion for 9.9, with prices starting from just $99.

Four Asian companies are among world’s 20 largest corporate givers

New research reveals how leading corporations are aligning social impact with business strategySINGAPORE - Media OutReach Newswire - 9 September 2025 - A new report from The Bridgespan Group – b...

Rain, Ekin Cheng And Hins Cheung Headline Jam Off 2025 At Universal Studios Singapore

From star-studded concerts at Universal Studios Singapore to the return of VOICE and BEATS contests at Palawan Green, JAM OFF 2025 promises an unforgettable prelude to the race weekend...

AWS research shows strong AI adoption momentum in Australia, with startups outpacing large enterprises in innovation

Amazon Web Services (AWS), an Amazon.com company, released new research revealing that while artificial intelligence (AI) adoption continues to acce...

Changing the World One Bite At a Time: IKU Turns 40

One of Australia’s first plant-based, chef-led eateries and now ready meal provider IKU is celebrating its 40 year anniversary with the business e...

Three generations marking 45 years in hot-air balloons

Australia’s leading hot-air balloon company is celebrating 45 years in the sky and its 700,000th passenger, driven by the passion of father-son du...

Workplace DMs, Reinvented: Deputy Messaging, Purpose-Built For Shift-Based Teams

Deputy, the global people platform for shift-based businesses, has launched Deputy Messaging, a fully integrated, real-time communication tool designe...

Revolutionizing Fulfillment: How Virtual Warehousing is Changing the Game?

The e-commerce landscape is evolving more rapidly than ever, and the way businesses are managing their fulfillment is also revolutionizing. At the...

SME lender Dynamoney welcomes new CEO, Brett Thomas

Strengthens growth ambitions and signals expanded offering Dynamoney, a leading commercial finance provider for Australian SMEs,  has today appoint...

Sell by LayBy