iMining Blockchain and Cryptocurrency Inc. has revealed it has successfully finished setting up 500, operational S9 Antminer rigs.
The company announced in an April 2018 SEDAR filing, it plans to venture into the cryptocurrency and blockchain industries. Although currently mining Bitcoin (BTC), iMining intends on researching other cryptocurrencies in the future. The firm also plans to acquire more mining rigs in the future as the industry grows.
iMining’s President and CEO, Robert Eadie, recently stated that the company is currently in revenue-generating mode now that it is running its cryptocurrency mining operations 24 hours a day. He also added that the company and its shareholders are looking forward to some good times ahead. However, the CEO did not mention any specific time-frame through which investors should start expecting returns. He also left out whether profits generated over the next few weeks will be used to purchase more mining rigs.
The announcement that iMining has set up its mining rig and commenced its operations, represents a milestone for the company. It is one of the numerous companies worldwide that have been launching cryptocurrency mining operations in an effort to get a piece of the pie.
This news also comes after a separate announcement nearly a month ago concerning a new director joining iMining. The company released a statement in April revealing that it had appointed Mr. Anders Nilsson as an extra director. Nilsson, who hails from Sweden, happens to be a certified systems engineer. He will offer technology consulting and management services.
Anders also works with Sweden’s largest helicopter operator to create and implement a safety and operations management solution that will facilitate compliance with European laws. The new director also mines cryptocurrencies individually and has done loads of research to come up with a model that works for him. Therefore, he has a good understanding of the cryptocurrency mining industry and is well suited for the director position. His experience should help steer the company in the right direction. Eadie had this to say about Nilsson,
“We are extremely fortunate to have Mr. Nilsson on board iMining. iMining will be forging ahead into the exciting blockchain and cryptocurrency world and having Anders with us will be a definite asset.”