Fredericksburg, VA, Nov. 20, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- 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