SAN ANTONIO, April 01, 2021 (GLOBE NEWSWIRE) — Ecoark Holdings, Inc. (“Ecoark” or the “Company”) (OTC: ZEST) announces that it expects to begin beta testing an environmentally conscious cryptocurrency mining approach in May 2021 as a part of the Company’s environmental, social, and governance (“ESG”) strategy.
Ecoark established a strategic initiatives team in February 2021 to focus on and analyze innovative and valuable ways to deploy capital. This team is led by Brad Hoagland, Chief Financial Officer of Ecoark, and includes senior leaders from across the Company. As its first initiative, the team focused on opportunities related to ESG technologies for hydrocarbon emissions and reductions in energy waste. The Company formulated an approach to pursue regionally constrained energy that is otherwise lost due to a lack of commercial infrastructure to economically process and/or transport the natural gas to market.
This approach is expected to drive significant molecule value through the energy intensive process of cryptocurrency mining. Ecoark’s strategy is anticipated to incubate green energy project development and growth by balancing regional power grid demands during times of heightened use, including during the recent Texas winter storm that left millions without power. We expect that Ecoark’s modularized infrastructure approach will allow the Company to become an industry first, “Spot Midstream” company, allowing for the creation of a mobile natural gas market hub anywhere in the world, within weeks of deployment.
“By redirecting power back to the grid