BlockQuarry (OTC: BLQC), a Texas-based company with commercial-stage operations in cryptocurrency mine hosting and self-mining in the southeast United States, is reporting on its unaudited financial highlights for the three and nine months ended Sept. 30, 2022. Financial highlights of the report show total revenues for the three-month period s of $2.098 million with total revenue for the nine-month period of $4.46 million. The company’s total assets were $10.42 million with current liabilities of $16.4 million. Operational highlights for the period include partnering with a consultant to provide services to support the company’s efforts to uplist to a higher exchange as well as an agreement with Bitmain to amend an existing service framework agreement to increase hosting service fees from $0.05275 per kilowatt hour to $0.07 per kilowatt hour. In addition, the company announced that a board of directors charter has been submitted to the state of Nevada and that it has filed an amended S1 registration statement with the updated Q3 financial reports. The company also significantly reduced its convertible debt with legacy note holders. “I am extremely proud of our third-quarter financial performance, despite very difficult current overall market and cryptocurrency market conditions,” said BlockQuarry president and chair Alonzo Pierce in the press release. “We were able to book a phenomenal quarter that featured continued strong topline growth, and we made substantial headway on key corporate objectives. . . . We were successful in hitting a number of key objectives in Q3, including a necessary reworking of our agreement with Bitmain to protect the company and ensure we are covered during peak power months. We were also able to get our board of directors and advisors finalized as well as hire a consulting firm to help us with the uplisting process.”
To view the full press release, visit https://ibn.fm/CMx2Z
About BlockQuarry Corp.
BlockQuarry focuses on cryptocurrency mine hosting and self-mining operations at a leased property located in Gaffney, South Carolina. BlockQuarry also maintains a fleet of digital/cryptocurrency mining equipment and infrastructure. For more information about the company, visit www.BlockQuarry.io.
NOTE TO INVESTORS: The latest news and updates relating to BLQC are available in the company’s newsroom at http://ibn.fm/BLQC
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