Vortex Brands Expands Bitcoin Mining Operation

Rhea-AI Summary

Vortex Brands Co. (OTC: VTXB) announced the purchase of three Antminer S19j Pro miners, enhancing its bitcoin mining capacity to 2,200 TH/s. This strategic move aims to scale operations and accumulate bitcoin ahead of the next halving event, which historically has driven price increases. The company emphasizes transparency in its operations and will continue to update shareholders on progress. While revenue projections are based on factual data, the company acknowledges potential risks including power pricing, equipment availability, and market fluctuations, which could impact its business outcomes.

Positive

• Acquisition of three Antminer S19j Pro miners increases mining capacity to 2,200 TH/s.
• Focus on accumulating bitcoin before the next halving event, potentially leading to price spikes.

Negative

• Potential risks include power pricing, mining equipment availability, and bitcoin market fluctuations.

DENVER, Jan. 31, 2023 /PRNewswire/ -- Vortex Brands Co. (OTC: VTXB) announces that the company has purchased three new Antminer S19j Pro miners which will come online in the next few weeks at a hosting facility in Texas. This acquisition expands the company's bitcoin mining operation up to 2,200 TH/s. We anticipate continuing to scale up mining operations consistently each month as we are now able to focus all of our resources solely on building and expanding our bitcoin mining operation. The goal of expanding our bitcoin mining operation is to accumulate bitcoin before the next halving event which previously has caused large spikes in the price of bitcoin. We will continue to provide updates to our shareholders when feasible.

As always, the Company seeks to provide as much transparency about it bitcoin mining operation as possible, here is the link to our wallet which can be viewed by shareholders: 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://minerstat.com/coin/BTC 

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 recent acquisition did Vortex Brands Co. (VTXB) make for its bitcoin mining operation?

Vortex Brands Co. purchased three Antminer S19j Pro miners.

What is Vortex Brands Co.'s new bitcoin mining capacity?

The company now has a bitcoin mining capacity of 2,200 TH/s.

Why is Vortex Brands Co. expanding its bitcoin mining operation now?

The company aims to accumulate bitcoin before the next halving event, which may cause price increases.

What risks does Vortex Brands Co. face in its bitcoin mining operations?

Risks include power pricing, mining equipment availability, and fluctuating bitcoin market prices.

How will Vortex Brands Co. keep its shareholders informed about mining operations?

The company plans to provide updates to shareholders when feasible.