(NewMediaWire) - May 6, 2024 - BitFrontier Capital Holdings, Inc. (OTCMKTS: BFCH), a leading provider of crypto mining hardware and liquid immersion hosting centers, today announces a strategic pivot and commitment to success.Our primary hosting facility encountered significant challenges coming on line and current plans need to be scrapped. Our partner, NetZero, rescues trapped natural gas deposits and has used them for power generation. Natural Gas power gave us a great pricing advantage and flexibility for locating hosting sites. We both thought that such deposits could be used to provide reliable power to support the needs of our hosting facility. For several weeks, both teams labored to make this a reality, but the demands of a data center have proven too great for natural gas to be used as a primary power source.
After extensive deliberation with our Board of Directors, it has been concluded that while Natural Gas generated power is an innovative approach that can help reduce costs, it cannot be relied upon as the sole power source for our hosting facilities. Unfortunately, this decision means that our current hosting site is no longer viable, and a new site must be found.
We are actively looking to locate a more suitable site with ample power for our needs and only look to natural gas produced power as a possible cost reduction in the future. While it is expected that this transition may temporarily impact our balance sheet, BFCH has been working on “disruptive mining technologies” that we are now ready to announce.
BFCH is pleased to announce a new revenue stream, for the past several months we’ve been developing mining pool technology to mine alternative coins. In the background, we have been working on a powerful server platform utilizing ASIC/GPU to mine alternative coins orchestrated as a mining pool. We have completed Proof of Concept mining the Kaspa token and our results far exceed competitive pools. This pool runs on a powerful server which we are now strategically relocating to the Detroit Internet Exchange and has a current location in Louisiana. This move positions us closer to major internet providers, significantly reducing latency and enhancing the overall efficiency of our mining operations. This enhancement is crucial as we prepare to expand our offerings and position this platform as a premier alternative coin pool.
With the Bitcoin halving event, many miners have been focused on AltCoin Pool: with a focus on alternative cryptocurrencies beyond traditional Bitcoin mining. Our pool creates an alternative and gives our users an opportunity to diversify their mining activities, potentially increasing profitability while reducing risk.
Despite the challenges acknowledged today, BFCH recognizes revenue from a variety of sources including: ASIC Miner Sales, Mining, Telesis IT and Hosting. ASIC Miner Sales have been good quarter after and Telesi IT has maintained profitability. Our new Mining pool of Alt Coin looks to be a well-timed pivot given Bitcoin has become harder to mine.
We acknowledge the frustration and disappointment of this setback, and our silence has negatively affected our stock price in the past few weeks. We believe that the market has over-punished this event and now may be the best time to join us in our mission to create an American source of ASIC miners, hosting facilities and alt coin mining.
As CEO, I am confident that we will navigate these challenges as a team and continue to achieve our objectives. While the journey ahead may be challenging, we believe that success is on the horizon.
Thank you for your continued dedication and support.
Warm regards,
Andrew GIlton
CEO, BFCH
About BitFrontier Capital Holdings, Inc.
BitFrontier Capital Holdings, Inc. is a leading provider of Crypto Mining Hardware and Hosting Centers. Consisting of ASIC Miners US, Inc. and Liquid Immersion Worldwide, Inc., BitFrontier is a one stop shop for purchasing the very latest mining equipment and strategically located hosting centers throughout the US.
To keep up with further announcements in between our scheduled press releases, please follow our new twitter account https://twitter.com/bfchco
Contact- PR@bfchco.com
Forward-Looking Statements.
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's respective filings at www.otcmarkets.com.
