BitFrontier Capital Holdings Inc logo

BFCH - BitFrontier Capital Holdings Inc News Story

$0.11 -0.0  -6.8%

Last Trade - 22/04/21

Sector
Technology
Size
Micro Cap
Market Cap £16.9m
Enterprise Value £17.0m
Revenue £n/a
Position in Universe th / 6851

BitFrontier Capital Holdings, Inc. (BFCH) Provides Shareholder Update

Mon 8th February, 2021 7:15pm
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Fredericksburg, VA, Feb. 08, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire
(https://www.globenewswire.com/Tracker?data=eh5dSGOAdsy3M7tv4iE_CEMRa3uru6ToieVqVBcIorHO3EwAm02Xbp71tcI9aUVioji6XTB3LKdIFZiz_XkabWtMD4d4z-s_k2inORg47O8=)
-- BitFrontier Capital Holdings, Inc. (OTC: BFCH) is excited to announce that
internet service has been hooked up and mining will commence by next week.
Although we are still awaiting Comcast to install our permanent internet
service which was initially estimated to take 31 days but now has an expected
completion of early March, our wholly-owned subsidiary TelesisIT was able to
assist in obtaining a temporary solution so we can begin to power our miners
on until Comcast is completed.

While we have been awaiting internet service, we decided to get a head start
on our immersion cooling system which we estimate to cut mining costs by
approximately 60%. We have taken delivery of two 8-fan dry coolers and began
installing the necessary plumbing and tanks necessary to convert from
traditional air cooled mining to an immersion cooled mining farm. We expect to
be able to transition to a fully immersion cooled farm within a few months of
turning on our first miners.

Lastly, we have been finishing up the missing quarterly reports needed to
regain Pink Current Information with OTC Markets and will have these posted in
the near future.

We will be posting pictures of the immersion cooling system on our twitter
at https://twitter.com/BitFrontierInc

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. 2021
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