SAN JUAN, Puerto Rico, April 15, 2021 (GLOBE NEWSWIRE) -- BOTS, Inc. (OTC: BTZI), a vertical integrator and an emerging innovator of products, technologies, and services for the rapidly growing digital robotics automation and manufacturing industry, today announced the increased capacity of Bitcoin and Ethereum miner rig repairs nationwide -conducted through our newly authorized repair facility. Our affiliated repair facility will be able to repair and process up to 1000 bitcoin miners per day.
The expansion comes at a time when the dramatic rise of Bitcoin price is fueling a robust appetite for bitcoin mining farms as miners begin to discover the much-needed services provided by Bots, Inc.
As reported earlier, Bitcoinmagazine.com recently wrote: "Mining equipment shortages, not just in North America but around the world, including China, are currently a big issue in the industry. As bitcoin's price continues to reach all-time highs, there is pressure on ASIC foundries and equipment manufacturers to try and meet the demand from both newly interested customers and older mining companies that need to upgrade to remain competitive. Estimated wait times for new mining equipment are at least six months, with leading manufacturers like Bitmain sold out until September 2021. There has also been a significant price increase in the secondary market for used ASICs.
Researchandmarkets.com published Global Cryptocurrency Mining Hardware Market 2020-2024 report indicated that the cryptocurrency mining hardware market is poised to grow by $ 2.80 bn during 2020-2024, progressing at a CAGR of 7% during the forecast period.
BOTS' Internal research indicates that demand for refurbished cryptocurrency mining electronic equipment in emerging nations is also a significant driver augmenting the market.
There are millions of Bitcoins and Ethereum mining rigs deployed in the USA. Bitmain customers report high failure rates occurring on leading Bitcoin mining hardware which are experiencing a 20 to 30% failure rate, creating an ever-growing demand for our repair services. U.S.-based bitcoin miner repair capacity is significantly lagging.
Bots Inc will be introducing and offering as its newest service, the first-ever bitcoin miners warranty program in North America, in the immediate future.
About BOTS, Inc.
Headquartered in San Juan, Puerto Rico, BOTS, Inc. - publicly traded on the OTC Markets under the symbol (BTZI) is a diversified company developing and servicing blockchain, cybersecurity, and robotics solutions for its clientele. The Company is committed to driving the innovations needed to shape the future of digital robotic automation management through digital technology and decentralized blockchain solutions. Management is dedicated to the strong growth of Distributed Asset Technology and Robotic Process Automation (RPA).
Shareholders, potential investors, and others should note that we announce material events and material financial information to our shareholders and the public using our website and the social media addresses listed below, as well as in our SEC filings, press releases, public conference calls, and webcasts. We also use social media to communicate with our subscribers and the public about our Company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, we encourage shareholders, the media, and others interested in our Company to review the information we post on the U.S. social media channels listed below. This list may be updated from time to time.
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Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in the Company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors, including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release, and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's website and filings.
Contact:
Paul Rosenberg
CEO
paul@bots.bz