Fredericksburg, VA, Nov. 06, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — 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.
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