Fortress Technologies Inc.

Description

Fortress Technologies Inc is a Vancouver-based company that is focuses on constructing gas field containers to operate 2,160 new generation Bitcoin ASIC Miners.

The company claims to have 20 petahashes per second of bitcoin mining capacity.

The company is listed on junior trading platform TSX Venture under ticker of ‘FORT’. In April 2021, Fortress Technologies Inc partnered with Green American Mining to develop bitcoin mining containers.

Great American Mining (GAM) is a North American mining company that transform gas into mining power by following Environmental, Social, and Governance (ESG) practices. It delivers oil and gas manufacturers with mining rigs that uses converted flared or vented gas for bitcoin mining.

The company has a revenue split, wherein Great American Mining earns 15 to 40 per cent while Fortress earns 60 to 85 per cent of revenue. It says that the revenue split is further dependent on bitcoin mining economics.

The company with this venture aims to grow and expand its business in bitcoin mining. The company also focuses on reducing greenhouse emissions.

In 2020, Fortress Technologies explored for bitcoin mining through an internal project. It reportedly eyed for an alternative solution along with other ESG-related investment opportunities in bitcoin mining.

Great American Mining claims to follows a sustainable approach towards the greenhouse gas reduction process. It reportedly collects methane waste gas and transforms it to electrical energy to channelize it for the bitcoin mining business.

The firm says that all of flared or vented gas converted to electricity in the United States could yield nearly 7.6 gigawatts of unused power reportedly.

Fortress claims that Great American Mining focuses on off-grid energy production to grow its business.

The firm claims to have an experienced team. Great American Mining claims to have successfully implemented and manufactured gas conversion and electrical infrastructure associated with active PDUs and software that helps in controlling decentralized mining networks in hydrocarbon-rich fields.