BlockQuarry (OTC: BLQC), a Texas-based company with commercial-stage operations in the energy and infrastructure industry, has acquired Blockchain Energy Services (“BES”) LLC, a subsidiary of Pantheon Resources Inc. According to the company, the acquisition includes all of the issued and outstanding shares of Blockchain Energy Services LLC, which is a data-processing site in Missouri designed for cryptocurrency mining and artificial intelligence (“AI”) clients, as well as certain infrastructure, including a five-year land lease that BlockQuarry will assume; the company will also take over the existing power agreement for the site that BES has been fulfilling. The transaction calls for BlockQuarry to issue $600,000 worth of Series B convertible preferred stock to Pantheon. The company also noted that, in addition to the acquisition, it has entered into a strategic partnership agreement with Pantheon to fund and develop the infrastructure needed to make the data processing site operational. “I am extremely excited about this new acquisition for BlockQuarry,” said BlockQuarry president and chair Alonzo Pierce in the press release. “This allows us to expand our business operations and continue to execute on our long-term growth strategy of acquiring valuable land and power infrastructure to serve a wide range of clients. We are extremely excited and look forward to sharing some more developments on this in the coming weeks.”
To view the full press release, visit https://ibn.fm/iN4qC
About BlockQuarry Corp.
BlockQuarry is a trusted American energy and infrastructure partner dedicated to fostering carbon-negative industrial energy and facilitating its establishment on land. The company offers sustainable, renewable and cost-effective energy solutions for businesses that have a need for high-volume power, such as data warehousing, manufacturing, AI and cryptocurrency mining. 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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