Vortex Brands Officially Launches Its Bitcoin Mining Operations and Provides An Operational Update
Vortex Brands Co. (OTC: VTXB) has officially launched its Bitcoin Mining Operations, marking a significant step in its business strategy. The company has acquired mining equipment, currently operational at approximately 500 TH/s, with expectations for daily payouts shortly. An additional 1,500 – 2,000 TH/s is set to come online soon, contributing to a target of 150,000 – 200,000 TH/s within 18 months. However, challenges remain, including equipment availability and cost fluctuations in energy and Bitcoin mining, which may impact projected revenues.
- Official launch of Bitcoin Mining Operations.
- Acquired mining equipment achieving 500 TH/s online.
- Targeting 150,000 – 200,000 TH/s in mining capacity within 18 months.
- Potential risks in achieving revenue projections due to power pricing and mining difficulty.
- Dependence on availability of mining equipment may affect growth.
DENVER, Sept. 22, 2021 /PRNewswire/ -- Vortex Brands Co. (OTC: VTXB) is pleased to announce the official commencement of its Bitcoin Mining Operations. This update is intended to provide shareholders and the investment community with our current mining statistics and forward-looking metrics regarding our business.
As of today, the Company is pleased to confirm that it has acquired Bitcoin Mining Equipment. Of the equipment purchased, approximately 500 terrahash (TH/s) has already come online and is mining, we expect daily payouts in the next 48 hours. An additional 1,500 – 2,000 TH/s is scheduled to come online shortly. This represents the initial step to our goal to acquire 150,000 – 200,000 TH/s in mining capacity over the next 18 months.
Todd Higley, CEO of Vortex Brands Co.., comments: "We have been working tirelessly to launch our Bitcoin Mining Operations. Currently, there are long delivery periods for Mining equipment, but we have managed to expedite the deployment and have begun operations sooner than we initially anticipated. I am impressed with what we had been able to accomplish in a relatively short period of 40 days. Our goal is to become one of the largest U.S. based mining companies and we are working diligently to achieve it."
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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