Vortex Brands Publishes October 2021 Results and Benefits from "HODL"
Vortex Brands Co. (OTC: VTXB) reported its mining operations performance for October 2021, achieving a total of 0.23905427 BTC mined, averaging 0.007711428 BTC per day. After expenses, the net BTC for the month was 0.18443169. The value of mined BTC appreciated by $641.59, reflecting the company's strategy to hold BTC long-term for shareholder value enhancement. Additionally, Vortex plans to increase its mining capacity from 1,400 TH/s to 1,700 TH/s. Anticipated third-quarter results may exceed 0.50 BTC mined, generating over $34,000 in gross revenue.
- Netted 0.18443169 BTC after expenses in October 2021.
- BTC mined appreciated by $641.59 relative to USD.
- Plans to increase mining capacity from 1,400 TH/s to 1,700 TH/s.
- Future revenue dependent on factors like power pricing and mining difficulty.
DENVER, Nov. 8, 2021 /PRNewswire/ -- Vortex Brands Co. (OTC: VTXB) announces results of the first full month of mining operations for October 2021, mining a total of 0.23905427 BTC averaging 0.007711428 BTC per day. The only outflows of BTC in October were mining related expenses such as electricity, and the Company netted 0.18443169 BTC after expenses for the month.
Vortex Brands is committed holding BTC long-term as a balance sheet enhancement providing additional shareholder value. October's results are a perfect example of the value generated from simply holding BTC since the value of BTC mined for the month appreciated relative to USD by
The Company commenced mining on September 21, 2021 and is currently operating 1,400 terahash (TH/s) of mining capacity, with an additional 300 TH/s planned to come online in the next few months as previously announced. At current production levels we anticipate 3rd Quarter results to include mining over 0.50 BTC and gross revenues of more than
Shareholders are encouraged to follow our progress and verify our results by viewing our corporate Bitcoin wallet address 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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