Fredericksburg, VA, April 17, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- BitFrontier Capital Holdings, Inc. (OTC: BFCH) announced today that it has received permits to begin construction of its first cryptomining facility. Arrangements are now being made to expeditiously complete the building process.
The Company has been working with several contractors and has received numerous quotes for the foundation work which will begin any day now. Spencer Payne, CEO of BitFrontier Capital Holdings, stated, “With permits now in hand we can turn our focus to the pouring of the foundation. Considering the building is already on site we anticipate we will be mining in the not too distant future.” The company will be documenting the build-out process on its twitter page at https://twitter.com/BitFrontierInc
The Company is finalizing the 2018 annual report which will be posted early next week. We are also anxiously awaiting the final order from the judge for the retirement of 99% of our currently outstanding shares. We appreciate the ongoing support of shareholders as we continue to grow with the goal of becoming a leader in the cryptomining industry.
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.
BitFrontier Capital Holdings Investor Relations
540-736-3069
IR@bitfrontiercapitalholdings.com