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BFCH - BitFrontier Capital Holdings Inc News Story

$0.142 -0.0  -7.7%

Last Trade - 16/04/21

Sector
Technology
Size
Micro Cap
Market Cap £22.2m
Enterprise Value £22.3m
Revenue £n/a
Position in Universe th / 6850

BitFrontier Capital Holdings, Inc. (BFCH) Announces Electricity Has Been Turned on at Its First Cryptomining Facility

Fri 20th November, 2020 6:17pm
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Fredericksburg, VA, Nov. 20, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire
(https://www.globenewswire.com/Tracker?data=HNvElb8B1IsBRrLH3Djk5DJw5j9S0ulS_ERIGNugnMQw2pt_sjJsShjn8MmfHFLjRIfc2V0Z5WYzyxK-3yL5t0ccVXEgbHKUW8fnN2BMZbI=) --
BitFrontier Capital Holdings, Inc. (OTC: BFCH) is excited to announce that
power has now been turned on at our first facility. Pictures of the power
company installing a new pole and transformers for us can be found on our
twitter at https://twitter.com/BitFrontierInc.  We are now just awaiting
internet to be hooked up and then we will be operational! Meanwhile the
process of setting up miners on the racks has begun.

BitFrontier management has been expanding the company’s assets and equipment
as we waited for this day. We will have several important updates to follow in
the coming weeks as we begin setting up and bringing our miners online.

BitFrontier has tried to be different from the typical OTC Company since the
beginning. We started by cancelling over 12 billion shares via the courts and
have been very shareholder friendly since. We had two routes to build our
cryptomining facility. One was to go out and raise a substantial amount of
money and pay a construction company to build our facility. This would have
cost hundreds of thousands of dollars and resulted in substantial dilution to
the Company. The second option, and the route we went, was to raise minimal
money and do the majority of the work ourselves. The only aspects of the
construction process management of BFCH did not personally do was pouring the
concrete slab and installing the sheet metal on the roof. Everything else was
done in house and thus took a substantial amount of time. We wanted to keep
our share structure very shareholder friendly so we believe that although we
opted for the route which took much longer, and way longer than we initially
anticipated, it was worth it in the end and added significant shareholder
value.

Despite the delays, Bitcoin prices have cooperated quite nicely in our favor.
We look forward to getting the rest of our obligations in order as well now
that we have the main priority accomplished with a beautiful brand new Mining
facility in the USA.

Thank you to all the shareholders for their Patience and Support!

About BitFrontier Capital Holdings, Inc.:

BitFrontier Capital Holdings' business plan is to concentrate on
crypto-currency related investments and development opportunities through
crypto-currency mining, investments in private and/or public entities, joint
ventures, and acquisitions of block-chain related companies. BitFrontier
Capital Holdings has two wholly owned operating subsidiaries, BitFrontier
Capital Investments, Inc. and BitFrontier Technologies, Inc. Through the
Company's wholly owned subsidiary, BitFrontier Technologies, Inc., the Company
is currently in the final stages of construction of a warehouse specifically
designed for hosting crypto-currency mining equipment. Crypto-currency mining
(e.g. Bitcoin mining) entails running ASIC (application-specific integrated
circuit servers or other specialized servers which solve a set of prescribed
complex mathematical calculations in order to add a block to a block-chain and
thereby confirm digital asset transactions. A party which is successful in
adding a block to the block-chain is awarded a fixed number of digital assets
in return. 

For additional information please visit www.bitfrontiercapitalholdings.com

FORWARD-LOOKING STATEMENTS 

This press release may contain forward-looking statements. The words
"believe," "expect," "should," "intend," "estimate," "projects," variations of
such words and similar expressions identify forward-looking statements, but
their absence does not mean that a statement is not a forward-looking
statement. These forward-looking statements are based upon the Company's
current expectations and are subject to a number of risks, uncertainties and
assumptions. The Company undertakes no obligation to update any
forward-looking statements, whether as a result of new information, future
events or otherwise. Among the important factors that could cause actual
results to differ significantly from those expressed or implied by such
forward-looking statements are risks that are detailed in the Company's
filings on file at www.otcmarkets.com

BitFrontier Capital Holdings Investor Relations
540-736-3069
ir@bitfrontiercapitalholdings.com

(https://www.globenewswire.com/NewsRoom/AttachmentNg/ac5382d6-6114-40f4-b6e2-8754fa25a8d0)



GlobeNewswire, Inc. 2020
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