Business
BitFrontier Capital Holdings, Inc. Announces Signing of Lease for New Crypto Mining Facility
BitFrontier Capital Holdings, Inc. Announces Signing of Lease for New Crypto Mining Facility.
About this update from Bitfrontier Capital Holdings, Inc.
[{"type":"text","content":"\n CRESTVIEW, FL, Feb. 02, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – BitFrontier Capital Holdings, Inc. (OTC: BFCH) is pleased to announce it has signed a one-year lease agreement with the intent to purchase at a fixed price the property in 2024. BFCH current and future shareholders, As we conclude a very busy first month of the 2023 year, we have several updates for shareholders on all fronts. Just last week we were able to locate, and lock down a new property for BFCH that currently has a pre-existing 2000 Sq ft building. On behalf of BitFrontier, Current President Bryan Wilkinson has personally prepaid a 1 Year Lease to the property owner and negotiated a fixed price owner financing deal of 5 years to follow starting in the 2024 year. This building, sitting on .7 acres, is perfectly positioned next to a major substation which gives us virtually endless possibilities. The new property allows us to access more power than at our current facility, with plenty of room for growth and at a faster pace than we could achieve at our current mining facility. At our current location, without a major investment in electrical upgrades, we are capped at 1 Megawatts, however at our new location we are projecting to have a minimum of 4 Megawatt available to us according to our initial talks with Duke Energy. There are also 2 adjacent parcels of land, one of which is identical, available for purchase if we want to expand further. “To date in the last 30 days, we have doubled our company miner count at our current facility and have had several customers contact us about hosting. We now can host 4x the miners in this new facility compared to the one we are in now, and have expedited the power upgrade process according to Duke Energy from Q4 to Q2 of this year with the new facility,” states Mr. Wilkinson. The acquisition of ASIC Miners US is proceeding according to plan and we are in final reviews. As previously mentioned, ASIC Miners US is one of the largest ASIC resellers in the US with over $6 million in revenue generated in 2022. We expect to have all signatures and 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. Wilkinson switching to the COO seat and heading up BitFrontier Capital Investments ...