## Sysorex Completes Full Ownership of Major Ethereum Mining Hub, Expands GPU Arsenal to 11,000 Units

The U.S. publicly traded cryptocurrency mining firm Sysorex has finalized its takeover of the remaining half-stake in Up North Hosting LLC, a data center facility located in upstate New York. This strategic move consolidates complete control over the primary infrastructure supporting the company's extensive Ethereum mining operations.

**Capacity Expansion and Financial Position**

The acquisition brought approximately 1,000 additional graphics processing units into Sysorex's operational fleet, pushing total GPU deployment to roughly 11,000 units. These processors collectively generate approximately 500 Gigahash of computing power, now operating at full capacity to validate and secure Ethereum blockchain transactions while generating ETH tokens continuously.

At the time of the original announcement with Ethereum trading above $4,500, Sysorex's treasury accumulated more than $5.5 million worth of mined Ethereum. The company projects monthly production exceeding 300 ETH units, translating to approximately $1.35 million in monthly additions at historical pricing levels. Current ETH valuation sits at $2.98K, reflecting market volatility over recent periods.

**Deal Structure and Ownership**

Sysorex compensated the co-owner for the remaining 50% stake through a combination payment: $1,000,000 in cash plus 1,000,000 shares of restricted common stock. Up North Hosting was previously jointly held by business entities controlled by Sysorex's Chief Technology Officer Brian Raymond—a seasoned veteran in the digital asset sector—and Sysorex itself.

**Operational Advantages**

Brian Raymond, the CTO, highlighted the facility's competitive positioning: "With consolidated control, we benefit from industry-leading operational cost structure. The location provides excellent cooling conditions and our renewable energy contracts offer pricing advantages. We now possess immediate capacity to scale mining operations with minimal infrastructure constraints, and the flexibility exists to diversify across other blockchain ecosystems beyond Ethereum."

CEO Wayne Wasserberg emphasized the strategic benefits: "This acquisition strengthens our treasury position significantly. We now operate a completely proprietary mining campus with nearly 11,000 GPUs under direct ownership. The facility removes operational friction and positions us for meaningful capacity additions in coming quarters."

**Industry Context**

The move reflects broader trends in cryptocurrency mining consolidation, where fully-owned infrastructure enables companies to optimize power costs and operational efficiency—two critical variables determining mining profitability margins. By eliminating joint ownership structures, Sysorex gains direct control over expansion decisions and maintenance protocols.

The company maintains Sysorex Government Services as a subsidiary, continuing to provide technology solutions to federal, state and local government agencies, though Ethereum mining now represents the primary business focus following its merger with TTM Digital Assets & Technologies.