Kona Gold Solutions, Inc's Wholly Owned Subsidiary, BitHive Mining, Brings First Crypto Currency Mining Rig Online
April 06 2018 - 9:00AM
InvestorsHub NewsWire
Kona
Gold Solutions, Inc’s Wholly Owned Subsidiary, BitHive Mining,
Brings First Crypto Currency Mining Rig
Online
Rockledge, FL -- April 06, 2018
-- InvestorsHub
NewsWire -- Kona Gold Solutions, Inc. (OTC Pink:
KGKG), a hemp lifestyle brand focused on product development in
the functional beverage sector, has announced its wholly owned
subsidiary, BitHive Mining, has brought its first crypto currency
mining rig online. The
Company established BitHive Mining, LLC in 2018 as a vehicle to
allow the company to branch off and get involved with crypto
currency mining. BitHive Mining’s first mining rig was brought
online earlier this week and is mining a specific crypto currency
around the clock and will continue to do so, 24 hours a day, 7 days
a week. The company
plans to bring 8-10 mining rigs online this year, with ROI
projections in the range of 6-8 months from the date of the mining
rigs coming online.
At this time, BitHive
Mining is not disclosing what crypto currencies they are currently
or will be mining or specifics on hardware.
BitHive Mining’s initial plans were
to aggressively pursue mining of crypto currencies, but with the
worldwide GPU shortages, along with new GPU architecture being
released this year, the Company will take a methodical approach in
order to capitalize on shorter ROI projections, thus creating
stronger revenues from mining.
“We are very excited
to be able to bring our first mining rig online and see it in
action, even with the current GPU hardware shortage,” stated Robert
Clark, CEO of Kona Gold Solutions, Inc. “We’ve worked with experts in the field to build
our first proper mining rig that is generating revenue and is a
successful proof-of-concept for the company.
The Company was able to successfully
procure hardware at fair prices, which is very challenging with
today’s current market shortage and price inflation.
Once we move into our new Corporate
headquarters, next month, we will be ready to build additional
mining rigs in our purpose-built server
room.”
The company is
currently working on building out BitHive Mining’s website, which
will be a resource for shareholders and potential investors to
learn more about the company and its
initiatives.
Kona Gold Solutions,
Inc. will be posting its annual CEO Letter, which will recap the
Company’s accomplishments in 2017 and lay out its strategy and
goals for 2018.
For more information
regarding Kona Gold Solutions, please
visit:
http://www.konagoldhemp.com
https://www.facebook.com/konagoldhemp
https://twitter.com/konagoldhemp
https://www.instagram.com/konagoldhemp/
For more information
regarding HighDrate, please visit:
http://www.highdrateme.com
https://www.facebook.com/HighDrateMe/
https://twitter.com/highdrateme
https://www.instagram.com/highdrateme/
Kona Gold Solutions,
Inc.:
Kona Gold Solutions,
Inc., a Delaware Corporation, has created wholly owned
subsidiaries, Kona Gold LLC, HighDrate, LLC, and BitHive Mining,
LLC. Kona Gold, LLC has
developed a premium Hemp Infused Energy Drink line, Energy shots,
and Apparel; please visit the Company’s website
at www.konagoldhemp.com.
HighDrate, LLC has developed the
beverage industry’s first CBD Energy Water, available in 4
delicious flavors; please visit the Company’s website
at www.highdrateme.com.
BitHive Mining, LLC will be solely
focused on mining cryptocurrencies via custom built mining
hardware. The Companies
are located on the east coast of Florida in Rockledge,
FL.
Safe Harbor
Statement:
The information posted
in this release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
You can identify these statements by use of the words "may,"
"will," "should," "plans," "expects," "anticipates," "continue,"
"estimate," "project," "intend," and similar expressions.
Forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those
projected or anticipated. These risks and uncertainties include,
but are not limited to, general economic and business conditions,
effects of continued geopolitical unrest and regional conflicts,
competition, changes in technology and methods of marketing, delays
in completing various engineering and manufacturing programs,
changes in customer order patterns, changes in product mix,
continued success in technological advances and delivering
technological innovations, shortages in components, production
delays due to performance quality issues with outsourced
components, and various other factors beyond the Company's control.
Investor Relations
Contact:
investorrelations@konagoldhemp.com
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