SAN JOSE, CA, March 30, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - BitFrontier Capital Holdings Inc (OTCMKTS: BFCH), a leading provider of crypto mining hardware and hosting centers, announces the release of Quarterly Report for Q1 of 2023.
Looking back on the 1st quarter of 2023, we at BFCH have already accomplished many of the goals we have set for ourselves on our multi-pronged path to profitability.
In this past quarter we acquired ASIC Miners US. Selling mining equipment is one of our sources of revenue. We now have that asset, knowhow and all the valuable relationships we've established along the way, we are well on our way. Still it has been a very good quarter for us and we hope to release the final numbers in the upcoming days. We have recently hired a new Sales Director to help bring in additional revenue starting in Q2.
We signed a cooperative agreement with C&G management to create hosting centers for miners on their land. Hosting centers are our second revenue stream. C&G's expertise in generating power from their natural gas business is going to give us control over the price of power. Together we have already broken ground on our first location in Louisiana and plan to continue working together at other locations they already own. Since the Louisiana site is ready to go, we are relocating our liquid immersion mining equipment that was staged in North Carolina to Louisiana. We already have 1000 mining bays and have just produced our first web commercial to help fill them. Currently at this location we have started to bring in revenues without our marketing taking place at the time of this article, we have over $100,000 a year in revenue coming from hosting, with a handful of potentially huge opportunities to bring in more hosting. Once we sell out of all slots we estimate that our earning will be over $275,000 per month in revenue. We estimate that it will take us close to 60-90 days to fill up the remaining slots. We are filling around 40-50 slots per week with several larger customers wanting over 100 slots per customer. We feel that this estimate is realistic based on the current information available.
Our third, is opportunistically mining ourselves. While Crypto-mining can be very lucrative, we are not going to put all of our eggs in one basket. We feel that mining ourselves will keep us present in the market so that we can continue to act as a resource of information to our customers whether they be purchasing ASIC miners or hosting them at our facility. We will always use mining as an additional source of income as it's a great way to speculate and bring in potentially huge rewards.
Also, BFCH has Telesis IT which will also contribute to our bottom line. Telesis IT is a technology solutions provider offering a comprehensive range of services to help small businesses achieve their goals. With over 30 years of enterprise networking experience, Telesis IT is ideally suited to help BFCH configure our mining containers, site security cameras and any IT challenges that pop-up along the way. And since Telesis IT has personnel located across the country, they are going to act as our first line of support, should we require assistance on site. Telesis IT might be the perfect partner to help you with your small business and enterprise IT solutions.
Lastly, in this past quarter, I have assumed the role of CEO. While I have a solid plan and lots of energy, I know that I can't do it alone. In the first quarter of this year, I have been building our team with some of the best talent in the industry. Tom Corker, who has taken 4 companies public plus sold another company right before IPO, has accepted the position of Chairman and we are already reaping the benefits of his many years of experience. Tom Elison, our Chief Technical Officer, has also joined and is back helping us since late February and was pivotal in getting Louisiana set up and running. Also, a good friend of Keith has joined us in Asia as our Chief Supply Officer. He is going to act as a liaison to all of the ASIC manufacturers and give us valuable visibility to our supply chain. We have hired marketing people, like Sam Clark & Matthew Tudor, web experts and none of us are currently pulling a salary. We all believe in what we are doing and agreed to work for equity - Now that's commitment.
Unlike a young startup looking to go public, we are already public and we are well on our way. Join us and grab a piece of this company as we build our way to profitability. Recap Video from our CEO
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
https://www.bfchco.com/
https://asicminersus.com/
https://www.liquidimmersionhosting.com/
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.
