(NewsDirect)
Code Green ApparelCorp. (OTC: CGAC), a Bitcoin mining company, announces the successful$894,325 purchase of 412 Antminer S19 Pro+ (Bitcoin miners) machines,bringing CGAC’s total fleet of miners to cumulative 517 miners. The412 Antminer S19 Pro+ will begin production in two weeks. CGAC usedfunds in the private sale of a first tranche of secured promissorynotes, with a maximum possible funding of $5,000,000.
Logan Rice, CGAC’sCEO, stated, “We are thrilled to unveil the initial results of ourrecently established finance program aimed at expanding our fleet ofmachines. This initial phase of our funding program aims to raise$5,000,000 in long-term debt. The financing package will includeissuing restricted shares for no more than 4.99% of our stock.” Mr.Rice continued, “The company is dedicated to protecting its treasuryand will issue shares sensibly to capitalize on the fleet of machineswe plan to build. This move reflects Code Green's commitment togrowth and expansion in the industry while maintaining responsiblefinancial practices.”
CGAC has partnered with ASICMiners.us and Liquid ImmersionWorldwide, Inc., wholly owned subsidiaries of Bit Frontier CapitalHoldings (OTC: BFCH), to increase production of the Antminer S19 Pro+by 50%. This arrangement will allow CGAC to overclock these machinesin a specially engineered Liquid Immersion tank produced by LiquidImmersion Worldwide, Inc.
"The purchase of these Antminer S19 Pro+machines also represent a strategic move for us, as the LiquidImmersion will allow us to increase our production capabilitiessignificantly, resulting in higher operating efficiency, a better rateof return, and, as we stay true to our commitment to low overhead, abetter chance for our shareholders to receive cash dividends, which isout stated objective," added Mr. Rice
The Antminer S19 Pro+ is one of the mostreliable Bitcoin mining machines available, producing a stock 122 t/hout of the box. With this strategic partnership, CGAC is poised toincrease its Bitcoin mining capabilities and profitabilitysignificantly.
About CGAC:
Code Green Apparel Corp. is a Bitcoin miningcompany uniquely positioned within the OTC space. CGAC will treat itsmined Bitcoin as a traditional commodity, like a gold mining company.CGAC will mine Bitcoin, then sell the mined Bitcoin for cash, and (3)regularly declare and distribute dividends concerning Available Cash(established by our Board of Directors)
To our shareholders. CGAC’s primarybusiness objective is to continually increase its Bitcoin miningcapacity and increase cash available for distribution as a dividend toits shareholders.
CGAC completa la comprade $894,325 de 412 mineros de Bitcoin, Operaciones mineras enmarcha
Forward-Looking Statements:
This current press release contains“forward-looking statements,” as that term is defined in Section27A of the United States Securities Act of 1933, as amended, andSection 21E of the Securities Exchange Act of 1934. Statements in thispress release that are not purely historical are forward-lookingstatements and include any statements regarding beliefs, plans,expectations, or intentions regarding the future, including but notlimited to any products sold or cash flow from operations.
Actual results coulddiffer from those projected in any forward-looking statements due tonumerous factors. Such factors include, among others, the inherentuncertainties associated with distribution and difficulties associatedwith obtaining financing on acceptable terms. These forward-lookingstatements are made as of the date of this news release. We assume noobligation to update the forward-looking statements or the reasons whyactual results could differ from those projected in theforward-looking statements. Although we believe that the beliefs,plans, expectations, and intentions contained in this press releaseare reasonable, there can be no assurance that such beliefs, plans,expectations, or intentions will prove accurate. Investors shouldconsult all of the information set forth herein. They should alsorefer to our most recent annual report for our last fiscal year,quarterly reports, and other periodic reports filed occasionally withthe Securities and Exchange Commission.
Contact:
Name: Logan William Rice
Title Chief ExecutiveOfficer
Telephone612-889-2418
Website: https://www.thenewcgac.co
Twitter:
Instagram: @TheNewCGAC
Email Address: codegreenapparelcorporation@gmail.com
SOURCE: CodeGreen Apparel Corp.
Contact Details
Code GreenApparel Corp.
codegreenapparelcorporation@gmail.com
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