Evergreen Sustainable Enterprises, Inc. Announces Commencement of Hydroelectric Bitcoin Mining Operations for Costa Rican Subsidiary

DALLAS, TX / ACCESSWIRE / June 22, 2023 / Evergreen Sustainable Enterprises, Inc., a Dallas/Fort Worth based company (OTCQB:EGSE), today announced the commencement of mining operations for its 240 new Bitmain S19J Pro+ ASIC miners. Approximately ½ or 106 miners went into operation last Friday, June 16 in the first container. The remainder were turned operational in the second container today. The miners are powered by the company's fully sustainable, green energy hydroelectric dam, located approximately 25 miles outside San Jose, Costa Rica, where power is generated at approximately $0.02 per kWh.

With a hash rate of 122TH/s and a power efficiency of 27.5 J/TH, these miners are among the newest model and are deemed the most powerful and energy efficient on the marketplace today. At these hashrate efficiency levels, coupled with the low cost of power from this hydroelectric site, the Company's financial models indicate a break-even marker of a BTC market price as low as $10,145. The recent BTC market price has hovered in the range of $30,000, creating a net margin of almost $20,000 per BTC.

During the period leading up to the activation of its bitcoin miners, the Company and its partner has performed comprehensive maintenance and refurbishment of the dam, generators, internet, and operating facilities.

Gary C. Evans, Chairman and CEO of Evergreen Sustainable Enterprises, Inc. commented, "This is an exciting development and milestone for our Company and our Costa Rican partner. Timing is perfect as it relates to the rainy season in Costa Rica with plenty of hydro power available for our operations. Additionally, we acquired these machines back in January when BTC was hovering around $16,000. Management continues to seek similar low-cost power opportunities both in Costa Rica and certain states within the USA where stranded power assets exist."

About Evergreen Sustainable Enterprises, Inc.

Evergreen Sustainable Enterprises, Inc. is a Dallas/Fort Worth based sustainable [green energy] asset company with operations in both the Bitcoin mining industry and the hemp industry. Bitcoin operations are located in Costa Rica, with future development plans in Arkansas and Kentucky and other Costa Rica locations. Hemp operations are located in western Kentucky and Denver, Colorado. In the hemp industry, the company uses its proprietary technology to dry, clean, process and store hemp. In addition, Evergreen Sustainable Enterprises also owns and leases real estate to companies needing seed storage facilities located within the greater Denver area.

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, indicates a forward-looking statement. These statements and all the projections in this press release are subject to risks and uncertainties and are based on the beliefs and assumptions of management, and information currently available to management. The actual results could differ materially from a 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 meant to be illustrative and by no means exhaustive.

Contact:

Melissa M. Pagen
Evergreen Sustainable Enterprises, Inc.
Phone: (310) 628-2062
Email: mpagen@egsustainable.com

SOURCE: Evergreen Sustainable Enterprises, Inc.