Vortex Brands Announces Increase In Mining Capacity And Provides An Operational Update
Vortex Brands Co. (OTC: VTXB) announced a significant increase in its Bitcoin mining capacity, now totaling 1,000 terrahash per second (TH/s), with plans to expand up to 200,000 TH/s in 18 months. The company has mined 0.0227 BTC from September 21 to 24, averaging 850 TH/s. Vortex aims to maintain transparency by providing weekly updates and a public Bitcoin wallet for shareholders to verify transactions. However, they caution that future projections are subject to various risks, including equipment availability and Bitcoin market fluctuations.
- Increased mining capacity to 1,000 TH/s, with plans to reach 200,000 TH/s in the next 18 months.
- Successful mining of 0.0227 BTC within initial operational days.
- Projections are subject to various risks including power pricing and mining difficulty, which may impact performance.
DENVER, Sept. 27, 2021 /PRNewswire/ -- Vortex Brands Co. (OTC: VTXB) announces that an approximately additional 500 terrahash (TH/s) came online last week. This increases the Company's total mining capacity to 1,000 TH/s (or 1 PH/s). An additional 1,000 – 2,000 TH/s (1-2 PH/s) is scheduled to come online shortly. These increases will continue as we continue towards our goal of acquiring 150,000 – 200,000 TH/s in mining capacity over the next 18 months. The Company's commenced mining on September 21, 2021. From Tuesday, September 21, 2021, through Friday, September 24, 2021, the Company has mined a total of 0.0227 BTC with a daily average of 850 TH/s.
As promised, we will provide as much transparency as possible to our shareholders regarding our Bitcoin Mining operations. As part of this, we will provide weekly updates from the mining results to provide our shareholders with up-to-date information instead of making them wait until quarterly filings are made. Additionally, the company has set up a corporate Bitcoin wallet address. This will allow shareholders to see in real time our transaction (including the daily mining deposits) and balance. Thereby, allowing our shareholders to be able to independently verify our updates on the blockchain at their convenience.
The wallet can be viewed by shareholders at:
https://www.blockchain.com/btc/address/38xnQP3mbWoDQTqLZy3GFMZyd2bwigvwCp
About Vortex Brands Co.: The Company operates as Technology Holdings Company that focuses on cryptocurrency sector, particularly Bitcoin Mining. Additional information is available by visiting company's website at www.vortexbrands.us or on twitter at https://twitter.com/Vortexbrands.
*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.
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SOURCE Vortex Brands Co.
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