BOTS INC NOW OFFERS BITCOIN MINING RIG REPAIRS AND REMOTE DIAGNOSTIC SERVICES TO SERVICE MOSTLY UNTAPPED MARKET IN THE USA

Rhea-AI Summary

BOTS, Inc. (OTC: BTZI) announced the launch of a nationwide Bitcoin and Ethereum miner rig repair service through an authorized facility. Amidst global equipment shortages and high demand for cryptocurrency mining rigs, the company aims to address the significant failure rates (20-30%) reported by Bitmain customers. This local repair center will support North American mining farms, enhancing their operational efficiency. The company emphasizes the growing appeal of digital assets among institutional investors, with nearly 80% expressing interest in incorporating them into their portfolios.

Positive

• Launch of nationwide Bitcoin and Ethereum miner rig repair service.
• Addresses 20-30% failure rate of Bitmain mining hardware.
• Supports North American mining farms, enhancing competitiveness.
• Growing institutional interest in digital assets, with 80% finding them appealing.

Negative

• High failure rates of Bitcoin mining hardware could impact profitability.
• Global equipment shortages create challenges for meeting demand.

SAN JUAN, Puerto Rico, March 15, 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 availability of Bitcoin and Ethereum miner rig repairs nationwide conducted through our newly authorized repair facility.

Bitcoinmagazine.com recently reported: “Mining equipment shortages, not just in North America but around the world, including in China, is currently a big issue in the industry. As the price of bitcoin continues to reach all-time highs, there is pressure on ASIC foundries and equipment manufacturers to try and meet the demand from both newly interested customers and older mining companies that need to upgrade to remain competitive. Estimated wait times for new mining equipment are at least six months, with leading manufacturers like Bitmain sold out until September 2021. There has also been a significant price increase in the secondary market for used ASICs.”

The following companies as the key players in the global cryptocurrency mining hardware market: Advanced Micro Devices Inc., ASICminer Co., Baikal Miner, Bitfury Group Ltd., BitMain Technologies Holding Co., Canaan Inc., Cynosure Technologies Co. Ltd., Halong Mining, INNOSILICON Technology Ltd., and Shenzhen MicroBT Electronics Technology Co. Ltd.

BOTS’ affiliated repair center offers Bitmain manufactured repairs only but will gradually add other manufactures repairs capabilities as replacement parts become available.

According to research conducted by Fidelity Digital Assets and Greenwich Associates, nearly 80 percent of institutional investors find something appealing about digital assets, and more than six in ten institutions believe that digital assets have a place in their investment portfolios.

BOTS’ Internal research indicates that demand for refurbished cryptocurrency mining electronic equipment in emerging nations is also a major driver augmenting the market.

There are millions of Bitcoin and Ethereum mining rigs deployed in the USA.  Bitmain customers report high failure rates occurring on leading Bitcoin mining hardware which are experiencing a 20 to 30% failure rate.  US based bitcoin miner repair capacity is significantly lagging.

 “As more crypto mining equipment from Asian manufacturers is being deployed in North America to respond to rising institutional demand, Bitcoin mining farms need help to promptly diagnose mechanical failure and other problems and repair equipment with original parts to maintain competitive operations. Having a local repair center with remote diagnostic capabilities and overnight repairs to miners will allow North American mining farms to remain competitive and profitable,”- commented Paul Rosenberg, Bots Inc., CEO

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.

Track BTZI news on Facebook @ https://www.facebook.com/Bots.Bz/

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Find BTZI news at http://www.bots.bz

Bots, Inc. has been featured in media nationwide, including CNBC, Bloomberg, TheStreet.com.

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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 BOTS, Inc. (BTZI) doing about miner rig repairs?

BOTS, Inc. has launched a nationwide repair service for Bitcoin and Ethereum miner rigs through an authorized facility to address the high failure rates of mining hardware.

What challenges is BTZI facing in the mining equipment market?

BOTS, Inc. faces challenges due to global equipment shortages and high failure rates of Bitcoin mining hardware which are reported at 20-30%.

How is the demand for digital assets influencing BTZI?

Demand for digital assets is increasing, with nearly 80% of institutional investors finding them appealing, which supports BTZI's focus on cryptocurrency solutions.

What is the significance of the new repair center for BTZI?

The new repair center will allow North American mining farms to address mechanical failures promptly, thereby maintaining competitive operations.