Business Daily Media

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

Vedanta Group Plans ~$500 million Investment in AvanStrate Inc. to Drive Innovation in High-Tech Display Glass Products

SINGAPORE / MUMBAI, INDIA - Media OutReach Newswire - 11 November 2024 - Vedanta Limited is planning to invest close to $500 million in its group company, AvanStrate Inc. (ASI), a leading global d...

CLP Power and DNMC Support Student Visits to Daya Bay Nuclear Power Station as Part of Hong Kong Education Bureau’s Mainland Study Tours of the Subject of Citizenship and Social Development

HONG KONG SAR - Media OutReach Newswire - 11 November 2024 - CLP Power Hong Kong Limited (CLP Power) and Daya Bay Nuclear Power Operations and Management Co., Ltd. (DNMC) fully support the Mainlan...

Glorious Program kindles rural prosperity after 30 years since its establishment with close to 1500 projects

BEIJING, CHINA - Media OutReach Newswire - 11 November 2024 - On April 23, 1994, ten private entrepreneurs issued a call to action: "Let's dedicate ourselves to the noble mission of poverty allevi...

Gaw Capital Partners Ranks 3rd in PERE's 2024 Proptech 20

HONG KONG SAR - Media OutReach Newswire - 11 November 2024 - Gaw Capital Partners ranked third in the PERE's 2024 Proptech 20 among all fund managers globally, with US$1,293m raised over the past ...

eftPay Entered in a MOU with AXS

Revolutionizing Payment Processing Across Asia Pacific Markets HONG KONG SAR - Media OutReach Newswire - 11 November 2024 - eft Payments (Asia) Limited ("eftPay" or the "Company"), one of the lea...

OPPO Find X8 Series with ColorOS 15 to Launch Globally, Setting a New Standard for Flagship Smartphones

SHENZHEN, CHINA - Media OutReach Newswire – 11 November 2024 - OPPO, the world's leading smart device brand will launch Find X8 Series and ColorOS 15 at a global launch event, set to take place o...

Galaxy Macau™ Presents Tatler Off Menu Dazzles with 15 International Masters of Gastronomy

Crafting an Unforgettable Celebration MACAU SAR - Media OutReach Newswire - 11 November 2024 - Galaxy Macau™ Presents Tatler Off Menu took place from November 8 to 10 at the Galaxy Macau™ Cabana a...

12 Years of Success: JustMarkets’ Brightest Highlights

CAPE TOWN, SOUTH AFRICA - Media OutReach Newswire - 12 November 2024 - With 12 years of reliability, safety, and trust under its belt, JustMarkets has earned a leading place in the industry...

International Business Forum "World of Opportunities: RussiaASEAN" to be Held in Malaysia

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 12 November 2024 – Kuala Lumpur will host the "World of Opportunities: Russia-ASEAN" International Business Forum on November 26-27, bringin...

University of Macau Welcomes Distinguished Scholars, Boosting Its Commitment to Academic Excellence

MACAU SAR - Media OutReach Newswire - 12 November 2024 - With its growing international reputation and influence, the University of Macau (UM) has attracted several eminent scholars from various f...

3 Ways To Manage A Job Where There’s More Work Than You Can Handle

While having a job that you love is one of the greatest blessings in your life, having a job that you love but can’t seem to keep up with can caus...

Business Training

When A Forex Trader Should Make Use Of Free Forex Signals Telegram

Both experienced and new traders make use of the Free Forex Signals Telegram to optimize their profits. Beginners will find the signals important sinc...

Business Training

The Importance of Customer Feedback for Your Online Business

Your perception of your business is unique. It has helped you build up your brand and establish your presence online, and above all, it has beco...

Business Training

Everything You Need to Know About Running a Limo Service

A limo service business can be very rewarding financial-wise. Your job duties include scheduling your vehicles to pick up and drive clients to vario...

Business Training

It’s a tough market for renters – here’s how to make the most of your rental

Licensed real estate agent and proptech expert, Scott Shepherd from PropertyMe shares his top tips from over two decades in the industry The rate...

Property

Executive Burnout

Throughout my time working in human resources as a psychologist, I've seen firsthand the toll that burnout can take on workers, particularly those...

Business Training