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

Lee Kuan Yew School of Public Policy Releases Strategic Roadmap for ASEAN's 5G-AI Transformation

New Research Reveals US$130 Billion Economic Opportunity and Outlines Policy Framework to Accelerate Regional Digital Leadership by 2030SINGAPORE - Media OutReach Newswire - 22 July 2025 - The Le...

DFI Retail Group Holdings Limited Half-Year Results For The Six Months Ended 30 June 2025 And Announcement Of Special Dividend

Highlights 39% underlying earnings growth Increased contributions from associates, Health & Beauty and Food Health & Beauty delivered strong like-for-like (LFL...

HeyMax Acquires Hong Kong’s krip to Accelerate Regional Expansion into Loyalty and Rewards Market

HeyMax’s first acquisition fast-tracks its regional expansion, bringing over 6,000 credit card deals offered by over 3,000 merchants, and personalized loyalty experiences to consumers in Hong Kong ...

CUHK Faculty of Engineering: Advancing Innovation Through Research Excellence and Global Collaboration

HONG KONG SAR - Media OutReach Newswire - 23 July 2025 - The Faculty of Engineering at The Chinese University of Hong Kong (CUHK) continues to strengthen its position in global engineering educat...

Adecco Singapore Marks 40 Years of Enabling Talent and Business Growth

SINGAPORE - Media OutReach Newswire - 23 July 2025 - Adecco Singapore has officially commemorated its 40th anniversary with a stakeholder event held at the National Gallery Singapore. The occasion...

Samsung’s Solve for Tomorrow 2025 Youth Innovation Competition is Now On

SINGAPORE - Media OutReach Newswire - 23 July 2025 - Samsung Solve for Tomorrow 2025, the highly-anticipated youth innovation competition, is back for its ninth edition in Singapore! As the natio...

Jollibee Group Evolves its Corporate Brand to Help Power Global Growth

Brand update brings to life its global purpose and positioning as a unified group of brandsMANILA, PHILIPPINES - Media OutReach Newswire - 23 July 2025 - The Jollibee Group, one of the world's fas...

AECOM to enhance mobility across the Greater Bay Area by delivering the Hong Kong Section of Hong Kong–Shenzhen Western Rail Link (Hung Shui Kiu-Qianhai)

HONG KONG SAR - Media OutReach Newswire - 23 July 2025 - AECOM, the trusted global infrastructure leader, today announced that its joint venture with AtkinsRéalis has been awarded the consultancy ...

OCBC Hong Kong Unveils New Brand Campaign

Connected to “As One Group, OCBC Enables Aspiration All Across ASEAN and Greater China” Demonstrating the Unwavering Commitment in Realising Customer’s Aspirations HONG KONG SAR - Media...

X.me Foundation Empowers Global Expansion of the X.me Social Media Platform

SINGAPORE - Media OutReach Newswire - 23 July 2025 - X.me (https://x.me) is a social media platform where users can freely express themselves, share content, engage, and interact while earnin...

Baby boomers are driving development feasibility leading to larger apartments

As residential developers continue to grapple with feasibility issues on apartment projects, the sector is struggling to deliver volumes of new st...

Hays launches FY25/26 Salary Guide: ‘Salary Paradox’ deepens as pay rises fail Australians

Rising dissatisfaction with pay, progression and perks is fuelling a new wave of career change in FY25/26, as Australians demand more from employe...

Australian Businesses Still Stuck in the AI Hype Cycle

Data Governance Failures, ROI Gaps and Unclear Strategy Slowing Progress Despite artificial intelligence (AI) dominating headlines and boardroom ag...

How to ensure your manufacturing business survives international tariff turmoil

Optimising your operations in FY2026 will help you combat the challenges of a volatile trading environment. Up, down, in out…Since the commence...

Why Apptio is Enhancing Visibility into AI and Hybrid Cloud

AI investments have become a strategic priority for business with the mindset that if you're not using AI, you're falling behind. But according to...

Beyond borders: Building a scalable strategy for international hiring

For many Australian businesses, growth increasingly depends on thinking beyond local borders.  As wage pressures rise, and specialised talent pool...

Sell by LayBy