Mining Power Group, Inc. (OTC:RCGR) - Breaking News - August 9, 2018

Mining Power Group, Inc. (RCGR) Data Center Subsidiary Signs $6,480,000, 2-Year Hosting Contract with Client
 

RCGR’s Recent Acquisition, Northway Mining, LLC. Brings Immediate Gains; Signs Major Client Contract For Crypto Miners; More To Come

MIAMI, August 9, 2018 -- Mining Power Group, Inc. (OTC:RCGR) (the "Company" or "RCGR") announced today that its majority-owned subsidiary, Northway Mining, LLC, (“Northway”) which offers highly specialized data center hosting services for cryptomining, has signed a 2-year, $270,000 per month hosting contract with Proof Computing, LLC., a U.S.-based firm which will yield approximately $6,480,000 million in revenues to Northway over the 2 years.

The contract encompasses the hosting of about 3,150 miners, including up to 25,000 GPU’s, projected to consume about 5 MW hours of electricity per month. Under the terms of the contract, the client is paying a $540,000, or two-month, advance deposit for the hosting services which will cover installation, set up and equipment testing services by Northway. The contract runs from approximately August 1, 2018 to July 31, 2020 and is renewable.

Northway is a cryptocurrency mining hosting facility that provides hosting, electricity, cooling, maintenance, insurance, downtime coverage, OS installation (GPU) assistance, setup & security, and more, including especially low rates for electricity, that reduces client costs and is a major competitive advantage in the marketplace.

The Company had just recently acquired a majority interest in Northway Mining, which has current revenues. In addition, it acquired real estate assets of substantial value including 30 acres of flat surrounding land that will be used for future expansion of Northway’s data center facilities. Northway presently has over 5000 square feet of secure crypto mining space.

Dror Svorai President and CEO, stated, “One of the key reasons we did this acquisition, was that we saw that we were carving out a special niche in this market, where we were not actually competing with cryptomining companies, but we could provide top of the line & state of the art facilities and services that every company in the field would want and utilize. We are not competing with them but are servicing them. That way, the whole market could become our clients… NOT our competition.”

Michael Miranda, President of Northway Mining stated: “As I say in my bio on our website, I firmly believe that cryptocurrency is the future of transactions that will revolutionize the financial industry. This 2-year client contract (the first of many more to come) hints at the pace at which we expect demand for our facilities and services will grow… beginning today! We are leading the way in the marketplace by creating fully-customized data center cryptomining solutions.”

About Mining Power Group, Inc.
Mining Power Group, Inc. was original formed as Rich Cigars to distribute, brand and market tobacco products. Following a change of control in November 2017, it changed its name and shifted its focus to become a holding company for new subsidiary operations serving the cryptomining industry. The Company trades under the symbol “RCGR”) and is a fully reporting SEC company listed on the OTC market. The Company has paid the fee and is in the process of submitting its application to OTC Markets in order to uplist to the OTCQB, which it plans to accomplish by September 1, 2018. For additional information on the Company, visit, http://www.miningpowergroup.com. 

About Northway Mining, LLC
Northway Mining, LLC, located in Athens, NY, is a crypto mining data center hosting over 1,100 rigs that operate 24/7. It has over 5000 square feet of secure crypto mining space of any type of machines and is fully climate-controlled to assure maximum machine optimal output. It has a unique competitive advantage in its onsite access to 300 Megawatts of electricity at very affordable rates. Its employees have significant experience in cryptocurrency operational systems, the repair of miners, and general computer science and info management systems with a strong interest in all things Bitcoin/crypto/blockchain. For additional information on Northwood Mining, visit, https://www.northwaymining.com

Safe Harbor Statement:
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "likely", "should", "could", "would", "may" or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, economic, competitive, and equity market conditions.

CONTACT:
Mining Power Group, Inc.
(800)304-2657
SOURCE Mining Power Group, Inc.

Mining Power Group, Inc. (RCGR) Acquires Majority Ownership Of Crypto Mining Data Center With Significant Assets & Revenues
 

Northway Mining, LLC’s Competitive Advantage Is Its Significant Cost Savings To Crypto Miners

MIAMI, August 7, 2018 -- Mining Power Group, Inc. (OTC:RCGR) (the "Company" or "RCGR") announced today that it acquired the majority ownership interest of upstate New York technology company, Northway Mining, LLC, (“Northway”) which offers highly specialized data center hosting services for thousands of cryptomining machines.

Northway, which will become a subsidiary of the Company, presently has revenues from its existing clients and also from an ever-increasing number of new clients.

Included as part of the acquisition are real estate assets of substantial value from the purchase of the buildings in which Northway operates and a future building into which it will expand. In addition, included are 30 acres of surrounding flat land that will be used for future expansion of Northway as well as for the placement of industrial containers to house 1000’s of additional mining machines for clients.

The purchased property has onsite access to approximately 300 Megawatts of electricity at very affordable rates contracted by Northway, which provides Northway with a significant competitive advantage on which to aggressively seek new and large client contracts. The cost of electricity being a significant cost component in the operation of any cryptomining machine.

Under the terms of the transaction, Northway will maintain its current management and the Company will invest funds for the expansion of its facilities. Additional details of the pending transaction were not disclosed but will be included in an upcoming 8K filing.

Separately, the Company is in negotiations for a similar purchase of a majority interest in an unrelated privately-held company involved in the development of products for the cryptomining industry. Results of the negotiations will be announced at a later date.

Dror Svorai President and CEO, stated, “This is something that we had been working on for a while and we are so glad to finally complete this transaction. We have not only entered the data center market… but we have done it in a big way that allows us to immediately begin a rapid ramp up of revenues. Existing clients can readily add machines because of our immense capacity, which is a key capability that we offer our clients. Our immediate ability to expand our facilities and the significant operational cost savings we can offer our clients due to our low cost of electricity, provides them with an affordable way to thrive and profit.”

Michael Miranda, President of Northway Mining stated: “Our whole team is excited to be a part of Mining Power Group and a part of a public company which will give us the support we need to keep pace with our rapidly growing business. The increasing demands from our existing client base, coupled with our many new client additions, required that we rapidly accelerate our expansion to meet the needs of both. With our highly experienced and qualified staff and Mining Power Groups’ support, we will be able to upgrade our facilities and aggressively take advantage of this rapidly growing market.”

About Mining Power Group, Inc.
Mining Power Group, Inc. was original formed as Rich Cigars to distribute, brand and market tobacco products. Following a change of control in November 2017, it changed its name and shifted its focus to become a holding company for new subsidiary operations serving the cryptomining industry. The Company trades under the symbol “RCGR”) and is a fully reporting SEC company listed on the OTC market. The Company has paid the fee and is in the process of submitting its application to OTC Markets in order to uplist to the OTCQB, which it plans to accomplish by September 1, 2018. For additional information on the Company, visit, http://www.miningpowergroup.com.

About Northway Mining, LLC
Northway Mining, LLC, located in Athens, NY, is a crypto mining data center hosting over 1,100 rigs that operate 24/7. It has over 5000 square feet of secure crypto mining space of any type of machines and is fully climate-controlled to assure maximum machine optimal output. It has a unique competitive advantage in its onsite access to 300 Megawatts of electricity at very affordable rates. Its employees have significant experience in cryptocurrency operational systems, the repair of miners, and general computer science and info management systems with a strong interest in all things Bitcoin/crypto/blockchain. For additional information on Northwood Mining, visit, https://www.northwaymining.com

Safe Harbor Statement:
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "likely", "should", "could", "would", "may" or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, economic, competitive, and equity market conditions.

CONTACT:
Mining Power Group, Inc.
(800)304-2657
SOURCE Mining Power Group, Inc.

Mining Power Group, Inc. (RCGR) Enters into Letter of Intent to Acquire New York Data Center
 

Company To Provide State Of The Art Data Centers Designed To House Third Party's Crypto Mining Servers; RCGR Facilities Can Provide Substantial Savings In Housing And Electrical Costs.


MIAMI, August 7, 2018 -- Mining Power Group, Inc. (OTC:RCGR) (the "Company" or "RCGR") announced today that it had signed a letter of intent to acquire the majority ownership interest of a privately-held upstate New York data center which provides specialized low-cost hosting services for the operation of cryptomining machines owned by third parties from around the world. The data center has the capacity to host thousands of cryptomining machines. Under the terms of the proposed transaction, the majority-owned company will operate as a subsidiary and maintain its current management. Over time, the Mining Power Group will invest funds for the expansion of the data center facilities. Additional details of the pending transaction were not disclosed.

Separately, the Company is in negotiations for a similar purchase of a majority interest in an unrelated private-held company involved in the development of products for the cryptomining industry. Results of the negotiations will be announced at a later date.

The Company sees that in the coming months and years that individual company data centers will become too costly for these companies to operate effectively and efficiently. RCGR sees a need in the market and intends to at the forefront of providing an inexpensive way for individual crypto mining companies to survive and thrive.

Crypto mining requires that specialized high performance hardware to be housed in secure data centers and can be quite costly. Crypto mining is an extremely computing intensive activity and the need for both electric and computing power increases over time. Along with the demand for this kind of specialized hardware housing, the growing demand for data centers to equip and to handle cooling of this kind of heat generating hardware is increasing. The cost of the electricity alone can be quite substantial. RCGR's centers can provide substantial savings to the third parties that house their hardware in the Company's facilities. One of the bigger savings will be the reduced cost of electricity that the Company will be able to provide.

FORBES has said: "...data centers (are evolving) to meet the need, growing in size and scale as well as energy efficiency." https://www.forbes.com/sites/christopherhelman/2018/01/16/bitcoin-mining-uses-as-much-power-as-ireland-and-why-thats-not-a-problem/

In building its own data center or rented a colocation facility, a company continues to be responsible for the data processing hardware and IT infrastructure software. It also needs "...an abundance of electrical power, internet connections, heavy-duty cooling equipment, generator and battery-based power backup systems and miles of copper and fiber-optic cables… (a company must continue to) invest heavily to keep it all operational, maintained and growing to provide enough capacity to meet growing business demands... Ultimately, most companies will ditch their own data centers and get out of the data center hardware and IT infrastructure software business altogether, because it's not core to the business. https://www.forbes.com/sites/forbestechcouncil/2018/07/05/when-do-you-decide-to-ditch-your-own-data-center/#625103b6426e

Dror Svorai, President and CEO, stated, "We are extremely excited to have put together this transaction which will firmly establish us as a major low-cost hosting service for cryptomining in the U.S. and we believe, around the world. We see a growing need for high-tech data centers with state of the art hardware housing and cooling mechanisms in the coming year."

About Mining Power Group, Inc.

Mining Power Group, Inc. was original formed as Rich Cigars to distribute, brand and market tobacco products. Following a change of control in November 2017, it changed its name and shifted its focus to became a holding company for new subsidiary operations serving the cryptomining industry. The Company trades under the symbol "RCGR") and is a fully reporting SEC company listed on the OTC market. The Company has paid the fee and is in the process of submitting its application to OTC Markets in order to uplist to the OTCQB, which it plans to accomplish by September 1, 2018. For additional information on the Company, visit, http://www.miningpowergroup.com.

Safe Harbor Statement:

This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "likely", "should", "could", "would", "may" or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, economic, competitive, and equity market conditions.

CONTACT:
Mining Power Group, Inc.
(800)304-2657

SOURCE Mining Power Group, Inc.

Mining Power Group, Inc. Returns to Current Status With SEC and Prepares for Uplisting to OTCQB


MIAMI, August 1, 2018 -- Mining Power Group, Inc. (OTC:RCGR) (the "Company" or "RCGR") announced today that it had recently filed its 10Q with the Securities and Exchange Commission ("SEC") for the period ended March 31, 2018, and is preparing its filing of its 10Q for the period ended June 30, 2018 which it anticipates to be filed prior to filing deadline. For fiscal 2018, the Company has engaged new auditors, Haynie & Company, PC, Littleton, Colorado, who are responsible for the review of the filings. Separately, the Company has paid the fee and is in the process of submitting its application to OTC Markets in order to uplist to the OTCQB, which it plans to accomplish by September 1, 2018.

Also, per the Company's filings, the Company has a new corporate headquarters address:

Mining Power Group, Inc.
20200 Dixie Highway, Suite 906
Miami, FL 33180

Yaniv Nahon, stated, "We believe that we are building a strong 21st century technology company based on the cutting edge use of blockchain technology, and are confident that this new strategy will add to shareholder value." He added, "Moreover, we are continuing our search for new officers and directors skilled in this area, and opportunities that will expand this enterprise." He added, "Also we are awaiting completion of the corporate action with FINRA in order to update our trading name and stock symbol."

About Mining Power Group, Inc.

Mining Power Group, Inc. was originally formed as Rich Cigars, Inc. a Florida corporation, in order to distribute, brand and market tobacco products. As a result of the November 2017 change of control, it became a holding company for new subsidiary operations under a change of focus.

Mining Power Group, Inc. is in the process of forming subsidiaries to invest in the development of unique cryptocurrency mining businesses which will operate on a 24/7 basis.

Safe Harbor Statement:

This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "likely", "should", "could", "would", "may" or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, economic, competitive, and equity market conditions.

Contact:
Mining Power Group, Inc.
(800)304-2657

SOURCE Mining Power Group, Inc.

Mining Power Group, Inc. and Vapor Group, Inc. Announce Dividend of Shares, and Rights Offering for, Simple Cork, Inc. in Connection to its Spin-off/IPO


MIAMI, July 11, 2018 -- Mining Power Group, Inc. (OTC:RCGR) (the "Company" or "RCGR") and Vapor Group, Inc. (OTC PINK: VPOR), and a not yet publicly trading company, Simple Cork, Inc. (collectively, the "Companies", or individually, a "Company"), jointly announced today that they had reached a settlement and resolution pertaining to that certain Asset Purchase Agreement, dated January 31, 2018, (the "Asset Purchase Agreement") by and between the Companies and announced on February 13, 2018, wherein RCGR had agreed to purchase the intellectual property assets of Simple Cork, Inc. ("SCI"), a wholly-owned subsidiary of VPOR which assets were independently appraised at a fair value of $12,440,000.

Yaniv Nahon, the president of VPOR, stated, "Our primary mission was to make this as fair as possible and as beneficial as possible to the shareholders of each Company. We felt that the best way to accomplish this was through an initial public offering by Simple Cork, Inc., accompanied by a dividend of the shares of Simple Cork, Inc., pro rata, to the shareholders of each of Mining Power Group, Inc. and Vapor Group, Inc. In order to provide further benefits to such shareholders and enable them to avoid dilution, they will be entitled to rights to purchase additional shares at a discount to the contemplated market price of the Simple Cork, Inc. stock."

The Asset Purchase Agreement in its entirety is rescinded ab initio. Instead, a share dividend of common stock of SCI, which is being spun-off pursuant to the provisions of a Tier 2 Regulation A filing with the Securities and Exchange Commission not later than by Friday, September 14, 2018, which date has been set as the ex-dividend date or the issuance date for shareholders of record of either Company. In other words, all such shareholders as of September 14, 2018, shall receive shares of SCI based on their shareholdings of Mining Power Group, Inc. and of Vapor Group, Inc. The ratio of the quantity of shares of SCI to be issued per shares held of either of the other Companies will be announced at a later date.

In addition, each shareholder of each Company shall receive rights to acquire additional shares of SCI as the spun-off company at a 50% discount to the IPO price as set in the Reg A+ filing for new shareholders. The new SCI shareholders, not shareholders of Mining Power Group, Inc. and of Vapor Group, Inc., shall not be entitled to such rights. Instead, they will have to pay the full IPO price.

The result is that neither Mining Power Group, Inc. or Vapor Group, Inc. will own the intellectual property assets of SCI. Instead, SCI, as a separate public entity, will own such intellectual property rights and SCI will in turn be owned, separately, by the shareholders of SCI. SCI shall separately assume responsibility for the development of "Simple Cork™" a new, multi-nationally patented combination wine bottle cork/opener (www.simplecork.com), which represents a faster and easier way to get a cork out of a bottle of wine without the use of a corkscrew.

About Mining Power Group, Inc.

The Company was original formed as Rich Cigars, Inc. a Florida corporation, in order to distribute, brand and market tobacco products. As a result of the November 2017 change of control and corporate reorganization, the Company has been renamed "Mining Power Group" and becomes a holding company for new subsidiary operations.

Mining Power Group, Inc. is in the process of forming subsidiaries to invest in the development of a unique cryptocurrency mining business for Bitcoin and other cryptocurrencies which will operate on a 24/7 basis.

About Vapor Group, Inc.

Vapor Group, www.vaporgroup.com, is a holding company for several wholly-owned subsidiaries: Total Vapor, Inc., the worldwide distributor of the revolutionary, hand-held automatic Easy Grinder™; CryptoTechCurrency, Inc. which specializes in cryptocurrency mining on a 24/7 basis of digital currencies such as Bitcoin, Litecoin and others; Vapor 123, Inc., an e-cigarette, vaporizer and e-liquid company; and Royal CBD, Inc., a marketer of hemp-based CBD oil products.

About Simple Cork, Inc. Inc.

Simple Cork, Inc., www.simplecork.com, a wholly-owned subsidiary of Vapor Group, Inc., is the owner and developer of "Simple Cork™" a new, multi-nationally patented combination wine bottle cork/opener being prepared for market entry. The device is protected under a French patent awarded in 2017 and eight patents pending in eight other countries including the United States. On November 29, 2017, VPOR received an independent CPA appraisal using the "relief-from-royalty method" for the estimated "fair value" of the intellectual property ("IP") specific to Simple Cork™ once in market. (The "Appraisal") The valuation used in the Appraisal was performed in conformity with the "Statement of Standards for Valuation Services No. 1" of the American Institute of Certified Public Accountants ("AICPA"). The standard of value used was" fair value", which per the Financial Accounting Standards Boards ("FASB") is defined as "the price that would be received to sell as asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date." AICPA also finds the definition of "fair market value" in Revenue Ruling 59-60 consistent with the definition of "fair value" as defined by FASB. As of the date of the Appraisal, the IP specific to Simple Cork™ was estimated to have a "fair value" of $12,440,000 (U.S.) subject to the Company's execution of its business plan.

Safe Harbor Statement:

This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "likely", "should", "could", "would", "may" or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, economic, competitive, and equity market conditions.

CONTACT:
Mining Power Group, Inc.
(800)304-2657
SOURCE Mining Power Group, Inc.

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About Mining Power Group, Inc.:

Our Knowledge and Mining Power is UNMATCHED

At Mining Power Group, we are working to integrate both hardware and software to achieve great results when it comes to ROI of Bitcoin Mining. We have the solutions to obstacles miners face when attempting to start as a solo operation.

We are turning results where every customer receives daily returns because of our capabilities and expertise.

WHY MINE WITH MINING POWER GROUP?

Mining Power Group will own subsidiary companies that provide products and services to the blockchain industry, including the operation of data centers to provide low-cost hosting services to cryptocurrency miners from around the world. Each MPG data center will have the capacity to host thousands of cryptomining machines at a highly efficient cost to the miners.

Since crypto mining requires specialized high performance hardware housed in secure data centers and is an extremely intense activity that consumes both increasing electric power and computing capacity over time, it can be quite costly. Moreover, the cost of the electricity alone can be quite substantial. Overall, Mining Power Group’s strategy is to provide data center hosting facilities that will provide substantial savings to the third parties that house their hardware with us while providing a secure, heat-controlled environment for the machines. One of the bigger savings will be the reduced cost of electricity that the Company will be able to provide by negotiated power company contracts.

Mining Power Group sees and understands the need in the marketplace and intends to be at the forefront of providing an inexpensive way for individual crypto mining companies to survive and thrive.

Separately, The Company plans to also invest in the development of proprietary cryptomining hardware and software which will be sold to miners in multiple countries.


SOURCE: http://www.miningpowergroup.com/

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