Vortex Brands Announces Its Revenue From Its Bitcoin Mining Operations and Quarterly Results

Rhea-AI Summary

Vortex Brands Co. (OTC: VTXB) filed its quarterly results for the period ending November 30, 2021, reporting a profit of $24,388 from bitcoin mining operations that generated $30,344 in revenue. The company invested approximately $110,000 in mining equipment and is actively expanding its operations. Vortex has established a corporate Bitcoin wallet for transparency, allowing shareholders to verify real-time transaction data. The company emphasizes that future revenue projections may be affected by various operational challenges including power prices and bitcoin market fluctuations.

Positive

• Profit of $24,388 from bitcoin mining operations.
• Generated $30,344 in revenue from bitcoin mining.
• Invested approximately $110,000 in mining equipment.
• Established a corporate Bitcoin wallet for shareholder transparency.

Negative

• Future revenue projections are uncertain due to operational risks.

DENVER, Jan. 10, 2022 /PRNewswire/ -- Vortex Brands Co. (OTC: VTXB) announces that the Company has filed its November 30, 2021 quarterly results with OTC Markets.  

The Company commenced its bitcoin mining operation on September 21, 2021, and generated a profit of $24,388 through November 30, 2021, from revenues of $30,344. The Company acquired bitcoin mining equipment for approximately $110,000 during the period ending November 30, 2021.  The Company is continuing to acquire bitcoin mining equipment and expanding its mining operations.

As promised, we will provide as much transparency as possible to our shareholders regarding our Bitcoin Mining operations. 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

Our quarterly filing can be viewed at the following link: https://www.otcmarkets.com/otcapi/company/financial-report/317132/content

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.

FAQ

What were Vortex Brands' quarterly results for November 30, 2021?

Vortex Brands reported a profit of $24,388 and total revenues of $30,344 from its bitcoin mining operations.

How much did Vortex Brands invest in bitcoin mining equipment?

Vortex Brands invested approximately $110,000 in bitcoin mining equipment.

What steps has Vortex Brands taken for transparency in its bitcoin mining operations?

Vortex Brands has created a corporate Bitcoin wallet allowing shareholders to track real-time transaction data.

What risks could affect Vortex Brands' future revenue from bitcoin mining?

Future revenue may be impacted by factors such as power pricing, mining equipment availability, and bitcoin market pricing.