Fredericksburg, VA, Sept. 16, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- BitFrontier Capital Holdings, Inc. (OTC: BFCH) is excited to provide a shareholder update as the Company nears completion of its first Cryptomining facility.
With the exterior shell of the Cryptomining facility already complete, the Company has been working on the interior of the first facility to begin mining as soon as possible. We are on track to be mining by the fourth quarter of 2019.
All interior framing has now been completed with insulation and drywall commencing later this week. The Company has met with several electrical contractors and will be having the facility wired in the coming days to accommodate the miners that have already been ordered.
Aside from the electrician wiring the first facility, the only remaining tasks to be completed before mining commences is the installation of the doors, intake fans, and exhaust fans, all of which are onsite.
Construction has been progressing smoothly and the Company is very pleased with progress made thus far. Mining operations are right around the corner. Pictures will be posted to our Twitter account in the coming days.
The Company would also like to recap on several major highlights from 2019:
- 1/31/19: The Company acquired all of the issued and outstanding shares in TelesisIT, LLC. TelesisIT produced annual revenue of $550,797.97 in 2016 and $542,181.11 in 2017 while producing a net profit annually.
- 3/29/19: The Company received its first Cryptomining facility. Each facility will consume roughly 3 MW’s of electricity. Pictures of the facility arriving can be found on the Company’s twitter page.
- 4/17/19: The Company received permits to begin construction.
- 5/13/19: The Company signed a contract to have a 7,500 square foot foundation poured with a completion date of 5/27/19.
- 5/28/19: The Company announced the foundation was completed and construction on the facility has started.
- 5/31/19: The Company won its court case to cancel 99% of its outstanding Common Stock totaling 12,260,000,000 shares as well as all the Series A and Series B Preferred Stock.
- 6/11/19: The Company’s transfer agent processed the cancellation of shares and updated the outstanding share count on OTC Markets.
- 6/24/19: The Company filed an Amendment to its Articles of Incorporation with the State of Wyoming to reduce its Authorized Common Shares from 17,500,000,000 (17.5 Billion) to 495,000,000 (495 Million) and reduce its Authorized Preferred Stock from 50,000,000 (50 Million) to 15,000,000 (15 Million).
- 8/5/19: The Company announced that it had completed its first bulk order of Cryptominers with its first facility nearing completion.
- 8/13/19: The Company announced the revocation of the cease trade order (“CTO”) issued by the British Columbia Securities Commission (“BCSC”) on May 10, 2011 following the Company's application for a revocation of the CTO and the BCSC having completed a review in compliance with National Policy 12-202.
More information about all of these events can be found on the Company’s OTC Markets page under the “News” tab.
Updates will continue to be posted on our twitter account 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.
BitFrontier Capital Holdings Investor Relations
540-736-3069
ir@bitfrontiercapitalholdings.com