BitFrontier Capital Holdings, Inc. (OTC: BFCH) Makes Deposit on its First Cryptomining Facility
November 06 2018 - 7:49AM
InvestorsHub NewsWire
Fredericksburg, VA -- November 06, 2018 -- InvestorsHub NewsWire
-- BitFrontier Capital Holdings, Inc. (OTC: BFCH) is pleased to
announce a 25% down payment on its first steel warehouse which is
customized for cryptomining operations.
The Company will be submitting blueprints of the warehouse,
along with the sitemap that the engineering team is currently
drafting for final approval in the coming weeks. Once completed,
the Company will share a 3D rendering with its shareholders.
With the deposit in place, the manufacture of the warehouse will
begin fabrication and prepare it for delivery to the building site
once approvals are received . The balance will be paid once the
building arrives on site. BitFrontier CEO, Spencer Payne,
commented, “This is a very exciting time, seeing our plans and
visions for the future of the Company beginning to come to
life.”
BitFrontier Management believes that the current market
environment for cryptocurrencies is very beneficial for the
Company. The decline in Bitcoin over 2018 has reduced market demand
for services and hardware that BitFrontier will require in the
coming months. With this reduction in demand, BitFrontier will be
able to negotiate more aggressively for terms and pricing with its
suppliers.
BitFrontier Management understands implicitly that
Cryptocurrencies are volatile and believes that Cryptocurrencies
will rise in the future. Current market conditions will allow the
Company to efficiently deploy capital expenditures while it
prepares for an exciting future.
About BitFrontier Capital Holdings, Inc.
BitFrontier Capital Holdings business plan is to concentrate on
cryptocurrency related investments and development opportunities
through cryptocurrency mining, investments in private and/or public
entities, joint ventures and acquisitions of blockchain related
companies. BitFrontier Capital Holdings has two wholly owned
operating subsidiaries, BitFrontier Capital Investments, Inc. and
BitFrontier Technologies, Inc. Through the Company's wholly owned
subsidiary, BitFrontier Technologies, Inc., the Company plans to
build a warehouse specifically designed for hosting cryptocurrency
mining equipment. Cryptocurrency mining (e.g. bitcoin mining)
entails running ASIC (application-specific integrated circuit)
servers or other specialized servers which solve a set of
prescribed complex mathematical calculations in order to add a
block to a blockchain and thereby confirm digital asset
transactions. A party which is successful in adding a block to the
blockchain is awarded a fixed number of digital assets in
return.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the
matters discussed in this press release contain forward-looking
statements that involve risks and uncertainties, including those
described in the Company's reports and filings
at https://www.otcmarkets.com/
Certain statements contained in this release that are not
historical facts constitute forward-looking statements, within the
meaning of the Private Securities Litigation Reform Act of 1995,
and are intended to be covered by the safe harbors created by that
Act. Reliance should not be placed on forward-looking statements
because they involve unknown risks, uncertainties and other
factors, which may cause actual results, performance or
achievements to differ materially from those expressed or implied.
Forward-looking statements may be identified by words such as
estimates, anticipates, projects, plans, expects, intends,
believes, should and similar expressions and by the context in
which they are used. Such statements are based upon current
expectations of the Company and speak only as of the date made.
BitFrontier Capital Holdings Investor Relations 540-736-3069 IR@bitfrontiercapitalholdings.com
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