Bullet Blockchain Provides Update on Status of Company and Operations
Bullet Blockchain, Inc. (OTCMKTS: BULT), formerly known as Britannia Mining, has officially changed its ticker from BMIN to BULT after completing a reverse stock split and corporate merger. As of December 21, 2021, the company announced its entry into the U.S. public markets, emphasizing a strategic entry into the Bitcoin mining sector with 3,500 ASIC miners. Bullet anticipates significant growth in 2022, with the potential to mine two Bitcoins daily and an increase in mining capacity to 200 megawatts, aiming for expansion up to 100,000 miners.
- Ticker change to BULT signifies completion of reverse stock split and merger.
- Plans to mine two Bitcoin daily starting in 2022.
- Access to 200 megawatts of infrastructure capacity, with potential to grow to 100,000 miners.
- Projected low operational costs compared to competitors, enhancing profitability.
- None.
Bullet Now Trades Under the Ticker OTCMKTS:BULT
RENO, NV / ACCESSWIRE / December 27, 2021 / Bullet Blockchain, Inc. ("Bullet" or the "Company"), (OTC PINK:BULT), f/k/a Britannia Mining ("Britannia"), today provided an update on the Company's corporate status and current operations.
Management announced that as of December 21st, 2021, Bullet's common stock, which previously traded under the ticker BMIN, now trades under the ticker symbol BULT, as a Current Pink Sheet, alternative filing company. For management, this symbol change formally signifies the full completion of the reverse stock split ("RSS") and corporate merger.
Imran Ellis, the Founder and CEO of Bullet Blockchain, Inc. stated, "First, we are very appreciative of the time our investors, consultants, advisors and legal professionals committed to assist us in completing our formal entry into the U.S. Public Markets."
"Unlike many of our competitors, we are entering the Bitcoin mining sector with a turnkey operation, 3,500 ASIC Miners, and access to almost immediate growth and expansion capabilities. We are excited to now be a U.S. public company, trading under the ticker symbol BULT, and look forward to building a multi-national bitcoin mining operation.
"As we move into 2022, I'd like for our shareholders to know that we intend on building confidence by strategizing and executing on a sensible and achievable model, which should result in sustainable growth and profitability."
With the assistance of the Public Accelerator-Incubator, Digital Asset Monetary Network, Inc. ("DigitalAMN"), Bullet completed its merger with Britannia during the 3rd QT of 2021 and completed a 1-for-10 reverse stock split ("RSS")-incorporating a round-up strategy to help preserve shareholder value. With the symbol change to the newly assigned OTCMKTS: BULT finally complete, management is motivated to ramp up its Bitcoin mining operations, beginning with an estimated two Bitcoin per day, and an increased value proposition for shareholders in 2022 and beyond.
Management anticipates that Bullet should have a strong performance in 2022, citing that Bullet's infrastructure partners have provided the Company with a current buildout capacity of as much as 200 megawatts; up from an initial 100 megawatts. Further, Bullet has already taken possession of 3,500 ASIC Miners with an estimated access of up to 100,000 miners during in 2022, allowing for both a solid entry into the space and ample runway for growth. Most important, however, the ‘all-in' cost of Bullet's Bitcoin mining operations is very low - believed to be nearly half of Bullet's competitors' mining costs in most cases, and even less in many others. This is partly due to an extremely competitive hash rate and Bullet's low energy costs; all contributing to Bullet's very positive anticipated rate of profitability.
For more information, please visit www.BulletBlockchain.com.
Bullet Blockchain, Inc. is a blockchain technology company that secures the bitcoin blockchain ledger. Bullet has secured partnerships that affords the Company access to highly coveted hardware, land, buildings, gas, generators, racks, security, etc. Bullet has secured 200 megawatts of electricity and infrastructure capacity for 6,000 petahash and has deployed an initial hardware fleet of 3,500 next generation ASIC miners-focused on bitcoin mining - with an initial hash rate capacity of 315 petahash and 12 megawatts of electricity.
Bullet is confident that it can manage its bitcoin mining operations at a far lesser cost per kilowatt than industry competitors, therefore producing bitcoin at a lower cost with greater profit margins. Bullet is focused on efficiency, stability, transparency, and scalability, and has set its goals to swiftly scale operations to 60,000 miners within the next 12 months.
For investor and general information, please email: contact@BulletBlockchain.com
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking.
Contact: contact@BulletBlockchain.com
SOURCE: Bullet Blockchain, Inc.
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FAQ
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