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TRON Group Inc. Purchases Thai Cryptocurrency Mining Assets

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TRON Group Inc. Purchases Thai Cryptocurrency Mining Assets

July 01
16:06 2021
TRON Group Inc. Purchases Thai Cryptocurrency Mining Assets

Eagle, Idaho – Jul 1, 2021 – TRON Group, Inc. (OTC: TGRP), a global holding company specializing in technology investments, announced today the acquisition of a cryptocurrency mining operation in Bangkok, Thailand.  The acquisition includes an established Filecoin and Bitcoin mining infrastructure network with sufficient broadband to accommodate a large-scale cryptocurrency mining operation.

Mr. Jacob Nguyen, CEO of TRON, stated, “Our Board of Directors decided on the Thailand acquisition for several reasons that can be of strong value for our shareholders.  First, we believe in the ascendance of Filecoin (FIL) as a credible long-term cryptocurrency. Filecoin offers a decentralized storage method through which users offer up their unused hard drive space to store data, which can be retrieved locally at lightning-fast speeds.  It is a direct, more secure, cheaper, and faster alternative to centralized data cloud storage companies such as Amazon’s (NASDAQ: AMZN) S3, Google/Alphabet’s (NASDAQ: GOOG and GOOGL) Google Cloud, and Microsoft’s (NASDAQ: MSFT) Azure. 

These Big Three have a market cap of around US$1.5 Trillion and, combined, store an aggregate of less than a Zettabyte of global data.  A consortium of Filecoin leaders, called the IPFS Union, recently announced a US$1.3 Billion investment in Filecoin mining infrastructure that they believe can add over a Zettabyte of storage capacity for global usage.  Since FIL is decentralized, storage prices are agreed upon directly between buyers and sellers, with some deals being as little as 3% the cost of using AWS. TRON believes there is massive potential for market disruption in the cloud storage space and we aren’t the only ones; Filecoin’s Initial Coin Offering (ICO) in 2017 raised over $250 Million in investments from the likes of Sequoia Capital, Andreesen Horowitz, Y Combinator, Naval Ravikant, and Winklevoss Capital.

Second, Thailand is a growing geographic market for cryptocurrency mining.  There is a young and tech-savvy population and the cost of electricity is low, the equivalent of US$0.121/kWh for businesses which includes all components of the electricity bill such as the cost of power, distribution and taxes (compared to US rates of US$$3.751/kWh within the continental US). The Bangkok facility’s three-story leased building has sufficient space for a full mining operation of both Filecoin and Bitcoin, a full warehouse, and offices. Along with the Filecoin operation, there are fifty Bitcoin mining machines to start a full bitcoin mining farm to augment the FIL operation.  We look forward to rapid business expansion of our footprint in the Thai cryptocurrency marketspace.”

About TRON Group Inc.

TRON Group Inc. is a holding company acquiring operating companies and assets in growing industries.  The company’s intent is to grow them by providing management and technical support under its public company umbrella.

Forward-Looking Statements:

Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties.  Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management.  Forward looking statements are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “aims”, “potential”, “goal”, “objective”, “prospective”, and similar expressions or that events or conditions “will”, “would”, “may”, “can”, “could” or “should” occur.  Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company.  It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, the Company’s ability to raise financing for operations, breach by parties with whom we have contracted, and the possible inability to maintain qualified employees or consultants.

Media Contact
Company Name: TRON Group
Contact Person: Jacob Nguyen
Email: Send Email
Phone: (310) 450-9100
Address:99 East State Street, Ste. 202
City: Eagle
State: ID 83616
Country: United States
Website: tron-group.com