STOCK TITAN

BitFrontier Releases Q2 Quarterly Progress Report to Investors

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
BitFrontier Capital Holdings, Inc. (OTCMKTS: BFCH) has released its Quarterly Report for Q2 of 2023. The company achieved $1,715,180.83 in revenue from ASIC Miner sales, which is consistent with Q1. Their hosting facility has been relocated to Texas and is expected to be operational in September 2023. Telesis IT, their technical solution provider division, contributed $156,868.55 to their bottom line. The company aims to generate revenue of $2M per quarter and reach $12M this year. They plan to uplist to the OTCQB in the Fall of 2024.
Positive
  • None.
Negative
  • None.

SAN JOSE, CA, Aug. 17, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – BitFrontier Capital Holdings, Inc. (OTCMKTS: BFCH), a leading provider of crypto mining hardware and hosting centers, today announces the release of Quarterly Report for Q2 of 2023.

Looking back on the 2nd quarter of 2023, we at BFCH have already accomplished many of the goals we have set for ourselves on our multi-pronged path to profitability.

ASIC Miner Sales - Our ASICMinersUS sales accounted for $1,715,180.83 in revenue for Q2 which is on par with the $1,719,801.90 in revenue we reported in Q1.

Hosting - Our hosting facility has been relocated to Texas and is currently being built out in west Texas where energy prices are renown for being some of the lowest in the country. Cement pads are being poured and we are anticipating being on-line in September 2023. Miner Hosting is an important part of our story because it enables us to be a trusted one-stop shop for sales, hosting and continued support services including overclocking and liquid immersion.

Telesis IT - Is our technical solution provider division supplying remote support for our Hosting Centers. This quarter Telesis IT continues to contribute to our bottom line, bringing in $156,868.55

Mining - We feel that it is important that we keep our finger on the pulse of the crypto market we serve, so that we can continue to act as a knowledgeable resource for our customers. As the market changes, we will be ready to opportunistically mine and report revenue in the coming quarters.

Onwards and upwards - This next quarter is already looking bright with continued ASIC Miner sales which will be joined with long-term recurring revenue from the hosting side. With our 2nd quarter behind us, we have demonstrated that we can repeatedly generate revenue approaching $2M per quarter and are on target to meet our goal of $12M this year as we continue our march toward uplisting to the OTCQB in the Fall of 2024!  Join us.

A video message from our CEO, Andrew Gilton

About BitFrontier Capital Holdings, Inc.

BitFrontier Capital Holdings, Inc. is a leading provider of Crypto Mining Hardware and Hosting Centers. Consisting of ASIC Miners US, Inc. and Liquid Immersion Worldwide, Inc., BitFrontier is a one stop shop for purchasing the very latest mining equipment and strategically located hosting centers throughout the US.

To keep up with further announcements in between our scheduled press releases, please follow our new twitter account https://twitter.com/bfchco

https://www.bfchco.com/

https://asicminersus.com/

https://www.liquidimmersionhosting.com/

Contact- PR@bfchco.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 respective filings at www.otcmarkets.com.


FAQ

What is the company name mentioned in the press release?

The company mentioned in the press release is BitFrontier Capital Holdings, Inc.

What is the revenue generated from ASIC Miner sales in Q2 of 2023?

The revenue generated from ASIC Miner sales in Q2 of 2023 is $1,715,180.83.

Where has the hosting facility of BitFrontier Capital Holdings been relocated?

The hosting facility of BitFrontier Capital Holdings has been relocated to Texas.

When is the hosting facility expected to be operational?

The hosting facility is expected to be operational in September 2023.

What is the contribution of Telesis IT to the company's bottom line in Q2 of 2023?

Telesis IT contributed $156,868.55 to the company's bottom line in Q2 of 2023.

What is the company's revenue goal for this year?

The company aims to generate revenue of $12M this year.

When does the company plan to uplist to the OTCQB?

The company plans to uplist to the OTCQB in the Fall of 2024.

BITFRONTIER CAPITAL HLDGS

OTC:BFCH

BFCH Rankings

BFCH Latest News

BFCH Stock Data

933.24k
Capital Markets
Financial Services
Link
United States of America
Crestview