Fredericksburg, VA, March 29, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- BitFrontier Capital Holdings, Inc. (OTC: BFCH) announced today that it has received its first Cryptomining facility and plans to start construction in the near future.
The prefabricated steel warehouse is now onsite and ready to be built. The sitemap for the land development has already been approved and we are awaiting building permits from the city to start construction.
The Company has already met with several foundation contractors and is awaiting quotes to have the concrete slab poured as soon as the building permits are obtained from the city, which is expected any day now.
Spencer Payne, CEO of BitFrontier Capital Holdings, states, “This is a very exciting time for the Company with the building arriving and construction starting any day. We expect to be operational during Q2 of 2019.”
Upon full buildout of the Company’s first Cryptomining facility, we will be able to house 2,016 Bitmain s9j mining rigs per facility consuming roughly 3 MW’s of electricity per facility.
The company will be posting pictures of the building, along with proof of payment of the facility on its twitter page at https://twitter.com/BitFrontierInc
About BitFrontier Capital Holdings, Inc.
BitFrontier Capital Holdings business plan is to concentrate on cryptocurrency related investments and development opportunities through cryptocurrency mining, investments in private and/or public entities, joint ventures and acquisitions of blockchain 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 plans to build a warehouse specifically designed for hosting cryptocurrency mining equipment. Cryptocurrency 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 blockchain and thereby confirm digital asset transactions. A party which is successful in adding a block to the blockchain is awarded a fixed number of digital assets in return.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's reports and filings at https://www.otcmarkets.com/
Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.