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Bitfrontier Capital Holdings, Inc. (BFCH) Provides 2021 Recap and Outlook For 2022
Bitfrontier Capital Holdings, Inc. (BFCH) Provides 2021 Recap and Outlook For 2022.
About this update from Bitfrontier Capital Holdings, Inc.
[{"type":"text","content":"\n Fredericksburg, VA, Dec. 21, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- BitFrontier Capital Holdings, Inc. (OTC: BFCH) is excited to provide a 2021 year-end recap and expansion plans for 2022. Fiscal Year 21' marked the most challenging year of operation for the team at BitFrontier. We are incredibly proud of the team's unprecedented commitment and dedication to overcoming the many obstacles to driving the company forward. Earlier this year, we finalized the purchase of the 1.32-acre lot of land our mining facility occupies. This purchase brings our portfolio to three debt-free properties, currently assessed at a value of $1,071,300.  As many are aware, with recent amendments to SEC Rule 15c2-11 staying current and up to date on financials is now more important than ever. BitFrontier brought in fresh talent and made strategic changes to the management structure and procedures, strengthening its existing management structure. With the help of our newly appointed Chief Financial Officer (CFO), John D. Allen, the company filed all past due financial reports and compliance documents with OTC Markets Group, bringing the company current in its reporting obligations.  We were also able to secure the final components to finish the buildout of our immersion cooling system, which we expect to be fully operational in Q1 of 2022. Finally, we want to give special recognition to Ronnie Williams and the TelesisIT team for the incredible expansion they have achieved. Ronnie Williams, Managing Director of TelesisIT adds, “For Fiscal Year 2020, we had a 101.3% increase in recurring cloud services sales and a 19.2% increase in product sales compared to Fiscal Year 2019. For the same period of Q1 through Q2 2021, we had a 40.1% increase in recurring cloud services sales and a 65.1% increase in product sales. “During the pandemic of 2020, we saw an increase in cloud services sales due to the increased number of businesses requiring their employees to work from home. Although many large businesses were well positioned for this transition, many in the SMB sector had not fully committed. Our expertise with cloud infrastructure allowed us to help existing and new customers to embrace this move.  We continue to see growth in cloud services in 2021 as many businesses who have made the move are continuing to move t...