Nate’s Food Co. Announces Acquisition of 25 Additional S19j Pro Units

Rhea-AI Summary

Nate’s Food Co. (OTC: NHMD) has acquired 25 additional S19j Pro bitcoin mining machines, enhancing its bitcoin mining capabilities. These units are operational, with initial mining set to start on February 1, 2023. CEO Nate Steck highlighted the company's commitment to expanding its bitcoin mining operations as part of a broader strategy to hedge against inflation and achieve earnings targets. The company operates in two main sectors: food development and bitcoin mining, indicating a strategic diversification. However, potential challenges in achieving revenue projections due to factors like power pricing and market conditions were acknowledged.

Positive

• Acquisition of 25 S19j Pro machines enhances bitcoin mining capacity.
• Initial mining expected to commence on February 1, 2023.
• Strategic diversification into bitcoin mining aims to hedge against inflation.

Negative

• Revenue projections may be impacted by power pricing and bitcoin market volatility.
• Potential challenges in achieving operational and financial goals due to external factors.

Huntington Beach, California, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Nate’s Food Co. (OTC: NHMD) is pleased to announce that it has purchased an additional 25 S19j Pro machines for its bitcoin mining operation. These units are already installed, and the initial machines are expected to begin mining February 1, 2023.

Nate Steck, CEO of Nate’s Food Co., commented, “We are excited to announce the completion of the acquisition on new bitcoin miners. The Company is focusing on increasing its bitcoin mining operations. The first phase of our bitcoin mining plan has already begun, and we look forward to adding more miners to our portfolio to reach our earnings target on bitcoin mining. I look forward to updating shareholders about our progress and the next acquisition of bitcoin mining equipment.”

About Nate’s Food Co.

The Company operates two divisions: (1) Food development and distribution and (2) bitcoin mining. The Company’s focus is the development of food products for distribution in wholesale membership stores and into retail grocery stores.  The Company also operates a bitcoin mining division as a hedge against inflation. 

Additional information is available by visiting company's website www.natesfoodco.com or on Twitter at https://twitter.com/natesfoodco. 

Revenue related calculations. Please note that the Company believes that any revenue related calculations are accurate and based on factual information, there can be no assurance that the Company will be able to achieve all projections due to number of business-related factors, such as power pricing, mining equipment availability, bitcoin mining difficulty, bitcoin market pricing and other unforeseen issues in deploying its mining rigs.  You can view update information on Bitcoin Mining by visiting https://alloscomp.com/bitcoin/calculator.

Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.

For more information:
Nate’s Food Co.
Email: nate@nateshomemade.com
Phone: (949) 341-1834

FAQ

What is Nate's Food Co. planning with its new bitcoin miners NHMD?

Nate's Food Co. is expanding its bitcoin mining operations by adding 25 S19j Pro machines to enhance its capabilities and meet earnings targets.

When will Nate's Food Co. start mining with the new bitcoin machines NHMD?

Nate's Food Co. expects to begin mining with the new machines on February 1, 2023.

What are the risks associated with Nate's Food Co.'s bitcoin mining operations NHMD?

The company faces risks such as power pricing fluctuations and bitcoin market volatility that could affect revenue projections.

How is Nate's Food Co. diversifying its operations NHMD?

Nate's Food Co. is diversifying by developing food products while also investing in bitcoin mining, which serves as a hedge against inflation.