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Vapor Group, Inc., Enters Cryptocurrency Market With Purchase of 25 L3+ AntMiner Machines to Begin Cryptocurrency Mining the First Week of January 2018
Vapor Group, Inc., Enters Cryptocurrency Market With Purchase of 25 L3+ AntMiner Machines to Begin Cryptocurrency Mining the First Week of January 2018.
About this update from Vapor Group Inc
[{"type":"text","content":"\n\n\n\nVapor Group, Inc., Enters Cryptocurrency Market With Purchase of 25 L3+ AntMiner Machines to Begin Cryptocurrency Mining the First Week of January 2018\n\n\n\n\n\nVapor Group, Inc., Enters Cryptocurrency Market With Purchase of 25 L3+ AntMiner Machines to Begin Cryptocurrency Mining the First Week of January 2018\nCompany Forms New Cryptocurrency Mining Subsidiary with Aggressive Plans for Subsidiary's Expansion\nPR Newswire\nMIAMI, December 19, 2017\n\n\n\nMIAMI, December 19, 2017 /PRNewswire/ --\n\nVapor Group, Inc. (OTC Pink: VPOR), (\"Company\" or \"Vapor Group\"), announced today that it has formed a new wholly-owned subsidiary, CryptoTechCurrency, Inc. (http://www.cryptotechcurrency.com) to mine various cryptocurrencies and has already purchased 25 dedicated mining machines to begin operations the first week of January 2018.\n\nYaniv Nahon, President, stated, \"This is very exciting for us to be able to form a subsidiary that will mine various cryptocurrencies. Importantly, the subsidiary will start by mining Litecoin on a 24/7 basis in January with 25 \"high hash rate\" ASIC L3+ AntMiner servers, to which we will add Bitmain ASIC L3+ AntMiner S9's to mine Bitcoin, and later additional specialized machines to mine other digital cryptocurrencies. Our intent is to develop over time our own cryptomining 'farm', or indeed, 'farms', with hundreds or thousands of machines that will participate in one or more 'mining pools', while we optimize the various mining efficiency factors. The revenue and profit created by this subsidiary will help form a consistent monthly revenue base that will add significantly to our 2018 results.\"\n\nHe added, \"Figuratively 2018 will represent our reinvention of our Company, given the pending asset sale announced (for which our shareholders will receive registered shares of a SEC reporting company), the reduction of our debt connected with it, and the growth of our other businesses.\"\n\nAbout Cryptocurrency Mining \n\nDriven by the explosive worldwide growth of digital cryptocurrencies that know no geopolitical boundaries, which cryptocurrencies today have a total market capitalization of over $500 billion (https://coinmarketcap.com/coins/ ), opportunities for revenue and profit abound in the specialized field of cryptocurrency mining. \"Cryptomining\" is the fundamental methodol...