Wattum

Apr 11, 2023

April 11, 2023 08:00 ET Pinedale, Wyoming, UNITED STATES MIAMI, April 11, 2023 (GLOBE NEWSWIRE) -- Wattum Management, Inc (“Wattum”) has expanded their hosting services by an additional 8 MW with the launch of a new facility in the United States, located in Kentucky. The company has been offering Bitcoin mining equipment and hosting solutions to a global network of clients since 2017. The launch of the Kentucky facility brings Wattum’s total hosting capacity to 78 MW, in addition to their facilities located in New York, Texas, South Carolina, and Canada. The new facility is expected to further expand to 24 MW of capacity available by December 2023, and boasts 100,000 sq ft of space in a heavy industrial area with a surplus of power. Wattum has spent the past 6 months adjusting its business model to offer hosting and management services exclusively in North America, with a focus on providing services to a large-scale clientele. As such, the Kentucky facility will be concentrated on enterprise-scale clients, at a fixed electric rate. Clients hosted at the facility in Kentucky will be provided with featured services such as 24/7 on-site and remote support, 24/7 security, on-site diagnostics and repairs, 24/7 remote DVR access for live viewing, and more. Wattum’s business realignment comes as the company dedicates itself to resolving past issues stemming from the collapse of Kazakhstan as a crypto mining hub back in 2022, when the local government cracked down on regional mining operations and forced many facilities to shut down indefinitely. With many miners left stranded or without their mining units, Wattum has been actively transferring all of its assets previously hosted abroad to the US in an effort to ensure a reliable and secure mining and hosting experience going forward. Wattum's expansion in Kentucky comes as no surprise considering that the state has maintained a positive stance on in-state Bitcoin mining operations, with Governor Andy Beshear passing two laws in March 2021 to incentivize miners: Senate Bill 255 offers the commonwealth’s clean energy-based incentives to those who make a minimum capital investment of $1 million, and Kentucky House Bill 230 offers a number of tax breaks to miners. Kentucky accounted for 10.9% of US hashrate share in 2022. While Wattum has shifted its priorities to building out exceptional services for larger B2B clients, they haven’t forgotten about their smaller-scale, B2C clientele. The company will be launching a new online store for customers interested in smaller quantities, with more details to come. More About Wattum: Wattum Management, Inc. is a Bitcoin mining solutions company based out of Miami, Florida. We are one of the largest distributors of crypto mining equipment in the United States, and proudly maintain a global network of more than 3,000 customers. With multiple facilities under our management, Wattum prides itself on our vast team of specialists that allow us to provide our customers with the highest standard of service, no matter their mining needs. In addition to mining hardware, we provide hosting and management services, positioning ourselves as a one stop solution for miners of all sizes.