Herndon, VA, May 21, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Sysorex (OTCQB: SYSX), the largest U.S.-based, publicly traded Ethereum mining and blockchain technology company, today announced that during the period from May 1 through May 19, its wholly-owned subsidiary TTM Digital Assets & Technologies mined a total of 386 ETH, or 20.3 ETH/day, with a mined value of $1,370,267.
“While we continue to see volatility in the overall cryptocurrency market as more institutional investors join an expanding retail investor base, the price of Ether (ETH), the currency that fuels the Ethereum Blockchain, has increased more than fifteen percent (15%) since our merger with Sysorex on April 14, building on ETH’s significant increase in value this year,” said Wayne Wasserberg, CEO of Sysorex and President of TTM.
“Notwithstanding volatility in the price of ETH and other digital assets, historically and in the last several weeks, the ETH market continues to demonstrate strength, and TTM benefits from its highly stable GPU-based mining platform,” continued Mr. Wasserberg. “When assessing TTM’s mining performance during May, investors might consider as a point of reference that the company mined 572 ETH, or 20.4 ETH/day, with a mined value of $1,266,563, for the period April 1 through April 27. Thus, the quantity of ETH mined daily has remained highly consistent month-over-month with a commensurate increase in the value of ETH mined taking into account appreciation.”
Please visit our TTM Website for more information.
We will retain the SYSX stock ticker symbol until further notice.
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Safe Harbor Statement
All statements in this release that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of the control of Sysorex, Inc. and its subsidiaries, which could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not limited to, the fluctuation of economic conditions, the impact of COVID-19 on Sysorex’s results of operations, Sysorex’s ability to integrate the products and business from recent acquisitions into its existing business, the performance of management and employees, the regulatory landscape as it relates to privacy regulations and their applicability to Sysorex’s technology. Other factors that are detailed in Sysorex’s periodic and current reports available for review at sec.gov. Furthermore, Sysorex operates in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. Sysorex disclaims any intention to, and undertakes no obligation to, update or revise forward-looking statements.