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

Rhea-AI Summary

BitFrontier Capital Holdings (OTC: BFCH) has announced progress in its mining operations. Internet service has been temporarily established, allowing mining to start while awaiting permanent installation from Comcast, expected by early March. The company is also implementing an immersion cooling system, projected to reduce mining costs by around 60%. Furthermore, BitFrontier is finalizing its missing quarterly reports to regain Pink Current Information status with OTC Markets, to be released soon.

Positive

• Temporary internet service allows immediate start of mining operations.
• Implementation of immersion cooling system expected to cut mining costs by 60%.
• Efforts to regain Pink Current Information status with OTC Markets are underway.

Negative

• Dependence on Comcast for permanent internet service, delaying full operational capability.

Fredericksburg, VA, Feb. 08, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- BitFrontier Capital Holdings, Inc. (OTC: BFCH) is excited to announce that internet service has been hooked up and mining will commence by next week. Although we are still awaiting Comcast to install our permanent internet service which was initially estimated to take 31 days but now has an expected completion of early March, our wholly-owned subsidiary TelesisIT was able to assist in obtaining a temporary solution so we can begin to power our miners on until Comcast is completed.

While we have been awaiting internet service, we decided to get a head start on our immersion cooling system which we estimate to cut mining costs by approximately 60%. We have taken delivery of two 8-fan dry coolers and began installing the necessary plumbing and tanks necessary to convert from traditional air cooled mining to an immersion cooled mining farm. We expect to be able to transition to a fully immersion cooled farm within a few months of turning on our first miners.

Lastly, we have been finishing up the missing quarterly reports needed to regain Pink Current Information with OTC Markets and will have these posted in the near future.

We will be posting pictures of the immersion cooling system on our twitter at https://twitter.com/BitFrontierInc

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

FAQ

What recent updates has BitFrontier Capital Holdings made regarding its mining operations?

BitFrontier has initiated temporary internet service for mining and is implementing an immersion cooling system to reduce costs by 60%.

What is the expected timeline for BitFrontier's permanent internet service installation?

Comcast is expected to complete the installation by early March.

How is BitFrontier Capital Holdings planning to reduce mining costs?

The company is transitioning to an immersion cooling system, estimated to decrease costs by approximately 60%.

What steps is BitFrontier taking to regain its Pink Current Information status?

BitFrontier is finalizing its missing quarterly reports to submit to OTC Markets.