Cuentas Partners with Power Upp for West Texas Bitcoin Mining Operation
Cuentas, Inc. (OTCQB: CUEN) has announced a strategic partnership with Power Upp USA, Inc. to develop a West Texas Bitcoin mining operation.
The project aims to capture and utilize methane and associated gas produced in connection with oil-field operations, reducing reliance on conventional utility power while putting an underutilized energy resource to productive use.
According to the company, Phase 1 of the project is expected to generate approximately 1.5 BTC per month, yielding revenue of around $130,000 at current Bitcoin prices. The PaaS Colocation project will also provide lower-cost power than many conventional Bitcoin mining operations, contributing to monthly profits of up to $43,000.
Cuentas plans to use these profits to subsidize and/or reward its customers with enhanced mobile services, cyber-security & VPN. The company is developing Bitcoin Mobile, a next-generation mobile service designed to combine high-quality nationwide wireless connectivity with subsidies and/or Bitcoin rewards.