BFCH - BitFrontier Capital Holdings Inc announces signing of lease for new crypto mining facility
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McapMediaWire --BitFrontier Capital Holdings, Inc. (OTC: BFCH ) is pleased toannounce it has signed a one-year lease agreement with the intent topurchase at a fixed price the property in 2024.
BFCH current and futureshareholders,
Aswe conclude a very busy first month of the 2023 year, we have severalupdates for shareholders on all fronts. Just last week we were able tolocate and lock down a new property for BFCH that currently has apre-existing 2000 Sq ft building. On behalf of BitFrontier, CurrentPresident Bryan Wilkinson has personally prepaid a 1 Year Lease to theproperty owner and negotiated a fixed price owner financing deal of 5years to follow starting in the 2024 year. This building, sitting on.7 acres, is perfectly positioned next to a major substation whichgives us virtually endless possibilities. The new property allows usto access more power than at our current facility, with plenty of roomfor growth and at a faster pace than we could achieve at our currentmining facility. At our current location, without a major investmentin electrical upgrades, we are capped at 1 Megawatts, however at ournew location we are projecting to have a minimum of 4 Megawattavailable to us according to our initial talks with Duke Energy. Thereare also 2 adjacent parcels of land, one of which is identical,available for purchase if we want to expand further. “To date in thelast 30 days, we have doubled our company miner count at our currentfacility and have had several customers contacts us about hosting. Wenow can host 4x the miners in this new facility compared to the one weare in now and have expedited the power upgrade process according toDuke Energy from Q4 to Q2 of this year with the new facility.”states Mr. Wilkinson.
The acquisition of ASIC Miners US is proceeding according toplan, and we are in final reviews. As previously mentioned, ASICMiners US is one of the largest ASIC resellers in the US with over $6million in revenue generated in 2022. We expect to have all signaturesand the deal wrapped up by Friday Feb 10 , 2023. Mr.Wilkinson plans to discharge from custodian in the month of February,and the company plans on naming Andrew Gilton CEO, with Mr. Wilkinsonswitching to the COO seat and heading up BitFrontier CapitalInvestments NC operations which will be our mining & hostingfacilities for Liquid Immersion Worldwide Inc customers, and minersowned by BitFrontier. “There has been a worldwide delay from Bitmainproducts, so we’ve begun utilizing connections through ASIC MinersUS to lockdown additional miners while we wait, which have beengetting delivered weekly” states Mr. Wilkinson.
Telesis IT closed thelast day of the 2022 calendar year with 140k contract that will bereflected on the 4 th Quarter financials which will beposted very soon. 2022 was a record year for total revenue since theinception of the company. They operate completely debt free and havebeen since 2020. They have added several cloud and hosting agreementsin the 2022 year which will increase their total monthly revenue goingforward. With their primary business model of selling and managingcloud infrastructure and compliant email solutions, leveragingMicrosoft 365 and Azure platforms, they expect to see even biggergrowth this year.
Tom Ellison has taken a leave of absence for personal reasons,and his responsibilities have been temporarily distributed among theother executives and we look forward to Tom’s return later thisyear. The company website is set to be released very soon as we arefinishing the final touches on it now and would like to apologize forthe brief delay. To keep up on further announcements in-between ourscheduled press releases, please follow our new Twitter account:
Forward-LookingStatements:
This press release may contain forward-looking statements. Thewords "believe," "expect," "should,""intend," "estimate," "projects," variationsof such words and similar expressions identify forward-lookingstatements, but their absence does not mean that a statement is not aforward-looking statement. These forward-looking statements are basedupon the Company's current expectations and are subject to anumber of risks, uncertainties and assumptions. The Company undertakesno obligation to update any forward-looking statements, whether as aresult of new information, future events or otherwise. Among theimportant factors that could cause actual results to differsignificantly from those expressed or implied by such forward-lookingstatements are risks that are detailed in the Company's respectivefilings at www.otcmarkets.com
Contact:
Bryan Wilkinson
972-928-5078
Contact Details
BitFrontierCapital Holdings Inc
+1 972-928-5078
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