Generation Hemp Announces Collaboration With Bitcoin Provider To Use “Green Energy” Hemp Raw Material

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DALLAS, Jan. 18, 2022–(BUSINESS WIRE)–Generation Hemp, Inc., a Dallas/Fort Worth-based pure play hemp company (OTCQB: GENH), today announced the collaboration with a leading player in the field of cryptocurrencies, Crypt Solutions, Inc., to build “green energy” factories and Bitcoin mining complexes that will use the raw material of hemp as a fuel source to power mining equipment. Plans for this complex also include Generation Hemp’s additional hemp drying and processing facilities.

With the prolific adoption and integration of cryptocurrency into traditional channels and throughout the global economy, there has been a huge draw on the energy grid to power the necessary data processing equipment. to maintain these cryptocurrency mining systems 24/7. Generation Hemp, Inc. and Crypt Solutions, Inc. have begun assembling the necessary parts of a “green energy” factory to create an independent power source with the primary purpose of powering Bitcoin mining in the purpose of solving any additional pressure on electricity. Grid. Ecologically sustainable hemp, a green raw material, will be used for the generation of Btu. As the site of Generation Hemp’s second hemp drying and processing outpost, the team also plans to explore harnessing the high levels of heat generated by data processing operations produced from the bitcoin mining equipment and redistribute that heat as additional Btus to dry the hemp.

As a renewable energy source with the use of hemp feedstock as fuel, all steps will be taken to register the current facility under development for Renewable Energy Credits (RECs) upon completion and operational. Bringing “green power” renewables into the overall power grid will help electricity providers stay compliant with state initiatives that require a certain percentage of their electricity to come from renewables, which helps to foster and develop renewable energy infrastructure and implementation. These CERs also have the potential to become a valuable asset to the project, as the CERs can be sold in the market to companies in need of credit for their respective activities.

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With Generation Hemp’s current hemp supply, which is the largest in the United States, the company’s access to hemp-grown acreage, as well as its expertise in operating facilities, the company provides essential elements for the success of this collaboration. Generation Hemp, Inc. President and CEO Gary C. Evans previously owned and operated multiple biomass plants, bringing significant expertise to the project as a whole. Crypt Solutions, Inc. brings years of expertise in cryptocurrency, specifically cryptocurrency mining, a deep understanding of equipment and operations, and an outstanding reputation and well-established relationships to worldwide.

Gary C. Evans, President and CEO of Generation Hemp, Inc., said, “We continue to see incredible reception for hemp in many different industries. As companies recognize hemp’s ability to replace current materials in a sustainable manner and farmers begin to see the adoption of hemp by industries to create a reliable product market to support hemp acreage, past methods who deplete resources to support become just that – a thing of the past. an industry that will soon touch every other industry and is already greedily devouring energy sources just to operate Collaborating to power mining using eco-friendly hemp with an organization that we have an established relationship with and that is a long-time and full-fledged player in cryptocurrency, makes perfect sense for everyone involved. It is elegant, responsible and efficient.

Patty Stefanelli, Chief Operating Officer of Crypt Solutions, Inc., said, “As a pioneer in cryptocurrency, we have witnessed and been a vital part of innovation and developments in the mining sector that are taking place at a remarkable pace. Our point of view has also made us very aware of the obstacles that could arise and how to ensure agility if necessary. The energy demand for mining will only increase, and we fully recognize the need to sustainable solutions to keep bitcoin adoption going. We look forward to being part of the search for solutions, and we believe that the construction of a “Green Energy” power plant, powered by an environmentally sustainable material like hemp, is the perfect opportunity.”

Joseph Stefanelli, Founder and CEO of Crypt Solutions, Inc., said, “When you look at groundbreaking technology like Bitcoin, which challenges the foundational institutions that have built society as we know it, relying on institutions similar as conventional utilities. is a contradiction to the decentralized, permissionless nature of Bitcoin and everything that makes it revolutionary. We believe that building independent, environmentally friendly and dedicated power plants will become an essential part of the Bitcoin ecosystem. Through our relationship with Generation Hemp, we have found a source of “green energy” that will facilitate the independence we need in cryptocurrency, alleviating the reliance on the grid and energy sources that are not environmentally sustainable.”

About Generation Hemp, Inc.

Generation Hemp, Inc. is a Dallas/Fort Worth based hemp company that operates in the midstream. With operations in Hopkinsville, Kentucky and Denver, Colorado, the company uses its proprietary technology to dry, clean, process and store hemp. In addition, Generation Hemp also owns and leases real estate to businesses in need of seed storage facilities located in the greater Denver area.

About Crypt Solutions, Inc.

Crypt Solutions, Inc. (DBA Cryptech Solutions) is a private entity headquartered in South Hadley, Massachusetts, involved in the blockchain/cryptocurrency hardware resale industry. Crypt Solutions, Inc. is the largest volume reseller of ASICS in North America. They have managed to establish a solid and high market presence with a clientele of large publicly traded and private miners, in addition to strong relationships with international vendors. They have a long-standing, trusted reputation in the mining community and are committed to the success of their clients. Cryptech’s sister company, DELV Innovation, designs some of the most secure, highest quality cryptocurrency mining infrastructure and offers one of the only fully UL-listed mobile data centers on the market, as well as a fully integrated, UL listed indoor shelving solution for miners.

Forward-looking statements

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The use of words such as “believes”, “expects”, “anticipates”, “intends” , “plans”, “estimates”, “projects”, “forecasts”, “proposes”, “should”, “likely” or similar expressions indicate a forward-looking statement. These statements and any projections contained in this press release are subject to risks and uncertainties and are based on management’s beliefs and assumptions, as well as information currently available to management. Actual results could differ materially from any conclusion, forecast or projection in the forward-looking information. The identification in this press release of factors that may affect the company’s future performance and the accuracy of forward-looking statements is intended to be illustrative and by no means exhaustive.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220118005237/en/

contacts

Melissa M. PagenGeneration Hemp, Inc. Phone: (310) 628-2062 Email: [email protected]

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