Nate's Food Co. Purchases S19j Pros For Its Bitcoin Mining Operation

Rhea-AI Summary

Nate's Food Co. (OTC: NHMD) has announced the acquisition of 6 additional S19j Pro (100 TH/s) bitcoin mining machines, set for delivery in December and installation in January 2022. This expansion will increase the company's mining capacity from 1,500 TH/s to a projected 25,000 per month, generating $25,000 in monthly revenue. The hosting cost for the new units will be approximately $220 each per month. However, the company warns that revenue projections are subject to various uncertainties, including market volatility and operational challenges.

Positive

• Acquisition of 6 additional S19j Pro mining machines.
• Projected revenue increase from $18,000 to $25,000 per month.

Negative

• Revenue projections are subject to power pricing and bitcoin market fluctuations.
• Uncertainty in achieving projected growth due to external factors.

HUNTINGTON BEACH, Calif., Nov. 12, 2021 /PRNewswire/ -- Nate's Food Co. (OTC: NHMD) is pleased announce that it has purchased 6 additional S19j Pro (100 TH/s) machines for its bitcoin mining operation. This new equipment is scheduled for December delivery and is expected to be installed in January 2022. The cost to host the units is expected to be approximately $220 per unit per month.

The company currently has 1,500 TH/s mining which is expected to generate revenues of approximately $18,000 per month. The added units would increase the Company's revenue to approximately $25,000 per month which is in-line with their projected growth and build out of their mining operation.

About The Nate's Food Co.
The Company operates a Bitcoin Mining Company. Additional information is available by visiting company's website at www.natesmining.com or on twitter at https://twitter.com/natesmining. 

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://novablock.com/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

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SOURCE Nate's Food Co.

FAQ

What is Nate's Food Co. planning for its bitcoin mining operation in December 2021?

Nate's Food Co. plans to acquire 6 additional S19j Pro bitcoin mining machines for its operations, with delivery scheduled for December 2021.

How much revenue is Nate's Food Co. expected to generate from its bitcoin mining after the new machines are installed?

After the installation of the new machines, Nate's Food Co. expects to generate approximately $25,000 in monthly revenue.

What is the hosting cost for the new bitcoin mining machines purchased by Nate's Food Co.?

The hosting cost for the new S19j Pro machines is expected to be around $220 per unit per month.

When are the new bitcoin mining machines scheduled for installation?

The installation of the new bitcoin mining machines is scheduled for January 2022.

What risks does Nate's Food Co. mention regarding its revenue projections?

Nate's Food Co. indicates that its revenue projections are subject to risks such as power pricing, bitcoin mining difficulty, and market pricing fluctuations.