BitFrontier Capital Holdings, Inc. (BFCH) Provides Shareholder Update

Rhea-AI Summary

BitFrontier Capital Holdings (OTC: BFCH) has announced significant progress in its mining operations and immersion cooling system. Delays due to supply chain issues have been overcome, and key components have been procured. Once operational, the system anticipates a 30% increase in efficiency and a daily revenue of $5,000 to $8,000. The company plans to expand its cooling capabilities and is in the process of selecting a new Chief Technology Officer (CTO), showcasing its commitment to shareholder value.

Positive

• Procured final components for immersion cooling system, addressing previously announced delays.
• Expected daily revenue increase to between $5,000 and $8,000 post-implementation of the immersion cooling system.
• Anticipated 30% efficiency increase from the immersion system compared to conventional cooling methods.
• Future expansion plans supported by increased cooling capacity.

Negative

• None.

FREDERICKSBURG, VA, Dec. 03, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – BitFrontier Capital Holdings, Inc. (OTC: BFCH) is excited to provide a shareholder update on mining operations and progress to its immersion cooling system.

While taking significantly longer than we had initially planned for due to supply chain issues, we were finally able to procure the final components to complete the immersion cooling system, including a significant amount of piping and immersion tanks. We are expecting the delivery of these components very shortly.

Upon completion and successful implementation, the Company forecasts a significant reduction in electricity usage, the most considerable expense for any crypto-miner. The system will also reduce the stress and fatigue of our machines, reducing their natural operating temperatures as compared to air-cooled units. As a result, we can overclock the manufacturer's specifications by at least 30%. 

After installing the immersion system for phase one, we expect to net a daily revenue between $5,000 and $8,000. We based our projection on several factors, including our total hash rate, BTC price, and the total network hash rate, which changes very rapidly, and thus our revenue numbers could quickly change.

Additionally, our total cooling capacity will be well over what we can currently utilize, allowing for very rapid expansion in the future. We will continue to strategically source additional bitcoin miners, alternative mining rigs, and support equipment.

Lastly, the board members unanimously agreed to begin interviewing and vetting a candidate to become the next Chief Technology Officer (CTO) of BitFrontier. We are confident the board will choose a candidate with invaluable skills and demonstrate unquestioning loyalty and value to our shareholders.

For additional information, please visit. 

www.bitfrontiercapitalholdings.com 

www.twitter.com/BitFrontierInc

About BitFrontier Capital Holdings, Inc.:

BitFrontier Capital Holdings' business plan concentrates on cryptocurrency-related investments and development opportunities through crypto-currency mining, private and 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 designed explicitly 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 that solve a set of prescribed complex mathematical calculations to add a block to a blockchain and confirm digital asset transactions. A party that successfully adds a block to the blockchain is awarded a fixed number of digital assets in return.

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 many risks, uncertainties, and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether due to new information, future events, or otherwise. Among the essential factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks detailed in the Company's filings on file at www.otcmarkets.com. 

BitFrontier Investor Relations
540-736-3069
IR@bitfrontiercapitalholdings.com

FAQ

What recent updates has BitFrontier Capital Holdings (BFCH) provided?

BitFrontier Capital Holdings updated shareholders on progress with its immersion cooling system, expected to improve efficiency and revenue.

How much revenue is BitFrontier Capital Holdings (BFCH) projecting from its mining operations?

The company anticipates a daily revenue of $5,000 to $8,000 after implementing the immersion cooling system.

What is the expected efficiency increase for BitFrontier Capital Holdings' (BFCH) cooling system?

The immersion cooling system is projected to increase efficiency by at least 30%.

Is BitFrontier Capital Holdings (BFCH) planning to expand its operations?

Yes, the company plans for future expansion supported by increased cooling capacity.