The OLB Group, Inc. Signs Long Term Lease for 10,000 Square Foot Cryptocurrency Mining Facility in Bradford, PA
January 11, 2022 at 06:15 pm IST
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The OLB Group, Inc. has announced the company has signed a long term lease on a 10,000 square foot mining operation with capacity for up to 2,000 Antminer S19j PRO machines. Located in an industrial park adjacent to the Bradford Regional Airport in Bradford, Pennsylvania to eliminate potential noise complaints, the facility is in the process of being converted into a cryptocurrency mining data center powered on the local power grid in tandem with natural gas power. The Company anticipates utilizing debt financing for the capital investment necessary for additional crypto mining machines.
The OLB Group, Inc. is a diversified Fintech eCommerce merchant services provider. Its eCommerce platform delivers cloud-based merchant services for a digital commerce solution to thousands of merchants in all 50 states. It seeks to provide merchants with a range of products and services through its various online platforms, including financial and transaction processing services. Its business functions through three subsidiaries: eVance, Inc. (eVance), OmniSoft.io, Inc. (OmniSoft), and CrowdPay.Us, Inc. (CrowdPay). OmniSoft operates a cloud-based business management platform that provides turnkey solutions for merchants to enable them to build and manage their retail businesses. eVance provides competitive payment processing solutions to merchants, which enable merchants to process credit and debit card-based Internet payments for sales of their products. CrowdPay operates a white label capital raising platform that targets small and midsized businesses seeking to raise capital.