Web Global Holdings Announces New Cryptocurrency Mining Operation in Partnership with Bitex, LLC
September 10 2018 - 8:00AM
InvestorsHub NewsWire
Web Global Holdings
Announces New Cryptocurrency Mining Operation in Partnership with
Bitex, LLC
Studio City, CA -- September 10,
2018 -- InvestorsHub NewsWire
-- Web
Global
Holdings, Inc. (OTC:
WEBB) a
diversified cryptocurrency holding company specializing in media
and data mining operations announced today that it has entered a
partnership with cryptocurrency mining operator,
Bitex,
LLC, one
of the most successful cryptocurrency mining operations in the
country.
Under
the agreement,
Bitex
will
establish the company's
new
cryptocurrency mining operation within
the next 30 days. The
Bitex
platform,
provides a low-risk and affordable way for interested parties to
enter the cryptocurrency market. Through its unique approach to
crypto mining, Bitex
offers
customers a return on investment well above other mining companies
in the space. Bitex
Chief
Executive Officer James Wolfgramm
will
also join the company as a
content advisor and networking resource.
As
part of the partnership agreement, Bitex
will
manage the mining operation for the company and provide the Web
Global Holdings team with first-hand knowledge and hands-on
experience in cryptocurrency and blockchain data mining.
Additionally, Bitex
will
provide a vast network of connections in the cryptocurrency and
fintech industry that the company anticipates will help to increase
exposure for Web Global Holdings and its CryptoCake
news
channel, as well as support the growth of its advertising revenues
over the intermediate and long-term. BitGen
Mining
will be the operating entity for Web Global Holdings for the
agreement with Bitex.
BitGen
Mining
is
wholly owned
subsidiary of Web Global Holdings.
"The
synergies are off the charts for both parties involved," said
Steve Slome,
CEO of Web Global Holdings, Inc. "Initially, a data mining
operation seemed like a distraction from our focus on broadcast
programming and production, but after just a few hours of looking a
little deeper, we found that this partnership aligns very well with
our long-term goals of creating a robust holding company within the
burgeoning cryptocurrency marketplace. We are excited about the
revenue generation opportunities this partnership will create and
believe that this is a step in the right direction to becoming an
established cryptocurrency conglomerate."
"I am
very excited about this partnership with Web Global Holdings, as
well as the opportunity it creates for Bitex
to
join the publicly traded space," said James Wolfgramm,
CEO, Bitex,
LLC. "We are excited to be working with their team as they continue
to build out their crypto news channel. By
some estimates, the cryptocurrency industry
is poised to reach a
trillion
dollar market
cap by 2020 and the
timing of this channel could not be better."
Wolfgramm
continued:
"It's a testament to Steve, Lee and their team that they've
committed to a mining operation of their own which, to me shows
their integrity and commitment to staying on the forefront of the
industry and actually 'engaging' where they can. I
would wager that this attitude and approach will be reflected in
their programming and will translate onto the screen and filter
down to its viewers."
Web
Global Holdings is currently in production developing quality
programming content for its CryptoCake
streaming
news channel. CryptoCake
will
be the first 24-hour
OTT news
channel solely dedicated to reporting news and informative
content for
the
cryptocurrency, blockchain, and fintech industry.
ABOUT WEB
GLOBAL HOLDINGS, INC.
Web
Global Holdings, Inc. is a
California-Headquartered, publicly traded company
(OTC: WEBB) incorporated
in the state of Colorado. We are a diversified
holdings company that creates growth through asset acquisition and
development to produce long-term
cash flow and favorable returns for stakeholders. Web Global
Holdings has a diverse array of operating subsidiaries specializing
in both traditional television production, internet, streaming
media along with crypto, blockchain and the FinTech
space.
Webb
is currently building out OTT streaming channels, reality
television productions, online videos, and scripted television
around the rapidly expanding crypto and blockchain universe. Web
Global Holdings' largest operating subsidies are CryptoCake,
BitGen
Mining,
and Allocation
Media Entertainment.
To
learn more, please visit the company website at http://webglobalholdings.com/
Notice Regarding
Forward-Looking Statements in this press
release which are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Actual results
could differ from those projected in any forward-looking statements
due to numerous factors. These forward-looking statements are made
as of the date of this news release, and we assume no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those projected in the
forward-looking statements. Although we believe that any beliefs,
plans, expectations and intentions contained in this press release
are reasonable, there can be no assurance that any such beliefs,
plans, expectations or intentions will prove to be
accurate.
Public
Relations Contact:
Tory Patterson, CMW
Media
Tory@cmwmedia.com
www.cmwmedia.com
http://bitexmining.com
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