BitFrontier Capital Holdings, Inc. Proceeds With Upgrades to Its 1st Mining Facility in North Carolina
BitFrontier Capital Holdings (OTC: BFCH) has announced the ordering of components for its Liquid Immersion Cooling system from Engineered Fluids Inc., which includes 10 SLIC tanks and associated equipment. The first five tanks and a 1 Megawatt cooler are expected by the end of December 2022. To support its growing facility, BFCH aims to enhance its mining capabilities by ordering additional ASIC Mining power panels and a two-megawatt transformer. Additionally, the company has formed a wholly owned subsidiary, Liquid Immersion Worldwide LLC, based in Wyoming.
- Ordering components for a Liquid Immersion Cooling system, enhancing mining efficiency.
- Expecting to receive cooling equipment by the end of December, enabling quick installation.
- Formation of a new subsidiary, Liquid Immersion Worldwide LLC, indicating business expansion.
- None.
CRESTVIEW, FL, Dec. 13, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – BitFrontier Capital Holdings, Inc. (OTC: BFCH) Is pleased to announce that the remaining parts for our Liquid Immersion Cooling system have been ordered from Engineered Fluids Inc. (https://www.engineeredfluids.com/ ), including 10 SLIC tanks (Each SLIC tank will house 30 Miners), 1 30 HP pump, and Bitcool Dielectric Coolant. For those not familiar with this process, our miners will be cooled by being placed in the tanks which are filled with the Dielectric Coolant. Dielectric Coolant does not conduct electricity and therefore the miners operate as they would in the open air but are cooled much more efficiently allowing us to run them at maximum clock speeds without overheating and also cut power cost.
We expect to receive the first 5 tanks, our 1 Megawatt cooler, and enough Bitcool fluid to accommodate those first 5 tanks by the end of the month. This will allow us to begin installation as soon as possible while waiting on the rest of the order which should be delivered by mid-January.
We have also identified vendors to provide us with other pieces needed for the cooling system such as Hi-TEMP CPVC and will be ordering those pieces in the next few weeks.
To accommodate our growing facility, we determined that we need more of the ASIC Mining power panels ( https://asicminingpanels.com/ ) and have placed an order for 4 additional panels in addition to the 1 we already have in our mining facility. We anticipate that we will need another 5 panels and will order those when we have utilized the first ones to nearly full capacity.
We recently met with an engineer from Duke Energy to review our site plans and finalize what electrical support we will need. It was determined that a two-megawatt transformer would be needed to support our facility to start with. We have ordered a transformer that will meet our needs and also can be upgraded if we require additional load capacity in the future.
Our goal is to make this first facility a state of the art, best in class mining facility which will pay off for us and our shareholders. In preparation for the installation of our electrical transformer and facility cooling system, last week we removed the old warehouse structure that was located adjacent to our mining facility. The site has been prepped and we will have two concrete pads for cooler & transformer poured later this week.
Lastly, we want to announce the formation of Liquid Immersion Worldwide LLC In Wyoming, which will be a wholly owned subsidiary of BFCH. More detailed plans will be revealed in the annual shareholder letter as well as additional info on our growth plan & road map.
To keep up on further announcements in-between our scheduled press releases, please follow our new twitter account https://twitter.com/bfchstock
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 respective filings at www.otcmarkets.com.
Bryan Wilkinson
Bryan@bfchco.com
FAQ
What is BitFrontier Capital Holdings planning with its Liquid Immersion Cooling system?
When will BitFrontier Capital receive the first components of its cooling system?
What new subsidiary has BitFrontier Capital formed?
What additional equipment is BitFrontier Capital planning to order?
