BOTS INC MOVES FORWARD TOWARDS NEW BITCOIN MINING FACILITY IN WEST VIRGINIA

Rhea-AI Summary

BOTS, Inc. (OTC: BTZI) has signed a lease for a Bitcoin mining farm to accommodate 50,000 miners, aiming to capitalize on the rapidly expanding digital robotics industry. This initiative aligns with the recent 62% revenue growth seen in Bitcoin mining, which generated $1.1 billion in January 2021. CEO Paul Rosenberg highlighted that the West Virginia location offers competitively priced electricity, enhancing profitability. Furthermore, FirstEnergy Corp.'s $200 million investment in infrastructure promises improved service reliability in the region.

Positive

• Signed a lease for a Bitcoin mining farm to support 50,000 miners.
• Positioned to benefit from a 62% revenue rise in Bitcoin mining.
• Secured a location in West Virginia for competitively priced electricity.
• Potential for profitability in accumulating Bitcoins as strategic assets.

Negative

• None.

SAN JUAN, Puerto Rico, Feb. 23, 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 announced today the signing of a lease agreement for its planned Bitcoin mining farm.  This follows the Company’s previously announced plans to develop a facility capable of housing 50,000 Bitcoin miners.

Coindesk.com reported recently that Bitcoin Miners Saw Revenue Rise 62% in January 2021 From December 2020. Bitcoin miners generated an estimated $1.1 billion in revenue in January, up 62% from December, according to on-chain data from Coin Metrics analyzed by CoinDesk. Around the world, bitcoin miners continue buying more mining machines and are beginning to receive and deploy the ASICs pre-ordered last year as they act on plans for continued expansion.

“In choosing the West Virginia location, BOTS INC will be able to secure access to some of the most competitively priced electrical energy worldwide,” -Paul Rosenberg, BOTS CEO said.  “Bitcoin Mining is a great way to accumulate Bitcoins as a strategic asset for BTZI. With the correct mining center setup, and advanced mining rigs we will be able to mine Bitcoins in a very profitable way.”

FirstEnergy Corp., the power provider in West Virginia, recently announced that the company is investing about $200 million on distribution and transmission infrastructure projects to help enhance service reliability and meet future economic growth for its customers.

Fortune magazine reports that Bitcoin Mining companies are in a position to make money and create jobs in rural areas, while also ensuring more Bitcoins—which are becoming strategic assets—end up in American hands.

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

FAQ

What is the recent development of BOTS, Inc. (BTZI) regarding Bitcoin mining?

BOTS, Inc. has signed a lease for a Bitcoin mining farm that will house 50,000 miners.

How much revenue did Bitcoin miners generate in January 2021?

Bitcoin miners generated approximately $1.1 billion in revenue in January 2021, reflecting a 62% increase from December 2020.

Why did BOTS, Inc. choose West Virginia for its mining operation?

BOTS, Inc. chose West Virginia for its mining operation due to access to competitively priced electrical energy.

What impact does FirstEnergy Corp.'s investment have on BOTS, Inc.?

FirstEnergy Corp. is investing $200 million in infrastructure, which could enhance service reliability for BOTS, Inc.'s Bitcoin mining operations in West Virginia.