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WRIT Media acquires Bison Crypto Power

Published 13 April 2018

WRIT Media Group, a diversified media and software company has acquired Bison Crypto Power (BCP) in an all-stock transaction.

BCP has been acquired for the purpose of providing strategic guidance for commodity based companies who are interested in tokenizing their projects as an alternate source of funding.

BCP will also provide infrastructure and secure locations for people interested in getting involved in the burgeoning crypto currency mining industry.

Eric Mitchell, CEO of WRIT stated, "With the price of commodities back on the rise, people and companies are looking to get back into these markets or restart legacy projects.

“However, traditional funding sources are not as readily available as they once were. As such, there is a growing opportunity for us to consult with these companies and provide guidance through some of the complexities of tokenizing their assets."  

On the infrastructure side, BCP will initially focus on locating stranded natural gas projects as a substitute to traditional power sources. The shale oil and natural gas revolution that began in 2003 caused a supply and demand imbalance leaving massive quantities of natural gas stranded with no market.

Stranded natural gas reserves are generally located in remote desert and mountain areas of the United States. These remote locations are long distances away from existing pipelines and power grids making it less attractive to gas transportation to build pipelines into the stranded natural gas fields; however this creates an opportunity for BCP.

By concentrating on stranded natural gas projects, BCP can acquire the natural gas feed stock very inexpensively and internal projections indicate that they can deliver the electricity for crypto-currency mining at approximately one-half of average market power costs.

In turn this will increase the profitability for crypto miners, while still generating strong returns for BCP.

Mitchell said: "The increasing cost of power is a real issue among cryptocurrency miners, so we acquired Bison Crypto Power Corporation to create a solution.

“The goal is on each remote BCP location there will be a 'mining camp' for crypto miners to set up their rigs and manage their operations remotely.

“We are excited to roll out both the consulting and infrastructure portion of this project and look forward to updating the market as opportunities unfold.”

Source: Company Press Release