CHEYENNE, WY / ACCESSWIRE / September 17, 2020 / Strategic Asset Leasing Inc. (OTC PINK:LEAS), the Company, is pleased to announce a Letter of Intent (LOI) to acquire a cryptocurrency mining data center.
Under the terms of the Agreement, the Company will acquire the building, infrastructure, and all mining hardware. The New Jersey based facility is Telecom Industry (ANSI/TIA-942) rated level 2, which exceeds the project's demands and offers robust protection from physical events. There is currently an extensive amount of mining hardware, including GPU and ASIC systems, which the company intends to expand on over time. The systems are set up to mine Bitcoin, Litecoin and Ethereum.
The Company expects to close the transaction before October. The transaction consists of a combination of cash and restricted shares and may result in a board membership of the center's current principle. Once finalized, more extensive details will be announced.
Stated CEO, Jason Tucker: 'I'm very pleased to have entered into this Agreement. With a few upgrades to the existing systems, I believe the mining farm can be an extensive passive income revenue generator well into the future, while the facility itself can also meet a number additional functions and demands. We'll definitely be showing this place off to investors once we close.'
Forward Looking Statements:
This press release contains forward-looking statements. The words 'believe,' 'may,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'should,' 'plan,' 'could,' 'target,' 'potential,' 'is likely,' 'will,' 'expect' and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
SOURCE: Strategic Asset Leasing Inc.
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