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This was from 10/25/18 press release (Summary: They will collect mgmt fees from 3rd party clients who want to mine in their new buildings, and they will buy some miners themselves):
...
With construction of the first facility nearing, the Company has announced plans to provide a hosting service for third party clients that wish to enter the cryptomining industry without the capacity to build a specialized facility or have the equipment/personnel to maintain one. BitFrontier will offer highly specialized data center services for cryptomining, including hosting, electricity, cooling, maintenance, setup and security, and more, including especially low rates for electricity, which reduces client costs and is a major competitive advantage in the marketplace.
In addition to the above strategy, the Company will still be purchasing and operating its own miners as well, however with the vast amount of datacenter space soon available, this will provide additional revenue for the Company with minimal additional capital outlay.
If they have the funds, then a PR should be coming very soon saying that they have purchased new miners (since it will take a few months until they actually receive them). Meanwhile, they can get the building ready while waiting. I have not seen these type of PR's yet and it is a bit troubling. I don't know if they need to raise more money with an offering or debt. Wish they would clarify soon.
Spencer is going all in on this mining business plan. He is thinking long term, many years, 5 buildings mining and bitcoin profits to come. I just hope he HODL's most of the coins for years, and for much larger price gains (and share book value gains as well). GLTA longs :)
So then wait 2 months then. No big deal...
I called them, got a receptionist who transferred me to a voicemail line for the CEO. I left a message but he never called back. :(
How much cash does BFCH have to purchase miners?
How many months from when the order is placed until they receive them?
How long to hook up and start mining once received?
Over 0.03 not soon. Maybe in a couple of months.
Well at least someone (or some algorithm) is buying 10's of millions of shares. Overall, less amount will be available for us plain folks to buy, thereby increasing the price in the longer term. Overall good!
Large spread too.
Supernova yes. But over many months, not quickly.
Not a lot of people do their DD. Also, not well known yet... CEO is delivering as promised as time has gone by.
Not confused, but extremely unsure and impatient. Just wait one year - yeah it is not a short term flip, but long term big gainer.
We are going to wait months for this thing to move up. Still have to finish the first of five buildings. Longer term hold, not a quick trade. Patience will be rewarded 10X and more as the many months go by.
Slow and steady wins the race. Sit back, accumulate as the months go by, and enjoy. Just wait and see where we are by end of July 2020 -- New miners working already, uplisted to OTCQB and profitable.
Then sell and move on to something else. Don't waste anyone's time, including yours.
Still wrong thinking.
As for your "it will be over" statement, please go ahead and short bitcoin so you will make lots of money. I am amazed at your Oracle ability. Lol.
Wrong thinking
Mine bitcoin at 10K, 11K, etc. Then BFCH can hold onto it for years, thereby increasing its book value more and more as the years go by... No need to mine bitcoin and immediately convert to USD. BFCH can HODL too.
BFCH Market Cap only $3.8 Million.
https://www.otcmarkets.com/stock/BFCH/security
Nice to see the naked shorts get spanked.
From Twitter:
BitFrontier Capital Holdings
@BitFrontierInc
·
17h
$BFCH The AS reduction has been posted to OTC Markets by our transfer agent. In addition, the “shell” status has been removed and replaced with “shell risk” which will be removed with the filing of our next annual report.
https://mobile.twitter.com/BitFrontierInc
Large spread and not too much volume except for the 300k buy. Somebody want in...
After they mine bitcoin, they really don't have to convert to USD. They can just keep the bitcoin and it will go up in value as time goes by ... making the stock more valuable as time goes by (book/asset value for the stock will just keep going up).
Remember the bitcoin halving will be in May 2020. At that point bitcoin will be at 40,000+. BFCH will be mining before then and will still show profits and be growing. Bitcoin to 100,000 and beyond as the years go by.
Right now the company is growing, informing us, building, and proceeding down the path to profits.
GLTA
Looking ugly lately. How low will she go?
Perhaps BFCH will consider purchasing the latest miners when the building is complete.
New miners, such as the Bitmain Antminer S17, promise over twice the computing power for the same electrical consumption, allowing each MW to translate into nearly 20 Ph/s in mining power.
I did hold. Looking good. Looking for more of the same with BFCH.
Also, BFCH does not have to convert all the bitcoin they will mine. They can keep a lot in their inventory and let it appreciate over time. Bitcoin at the end of 2021 could be $100,000 a coin. What a nice return (sort of like GBTC, but one that keeps its assets growing along with the price as it continues to mine more and more).
Hey 420man, do you have the address where the mining buildings are being built? Any pictures lately of the progress?
BitFrontier Capital Holdings, Inc. Completes Acquisition of TelesisITPress Release | 01/31/2019
Fredericksburg, VA, Jan. 31, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- BitFrontier Capital Holdings, Inc. (OTC: BFCH) announced today that it has signed an acquisition agreement to acquire all of the issued and outstanding shares in TelesisIT, LLC ("TelesisIT"). A copy of the acquisition agreement has been posted to the company’s OTC Markets page.
The transaction includes all assets owned by TelesisIT that are used in, related to, or necessary for operation of the business. This includes associated trademarks, trade names, brand names, goodwill, customer lists, contracts, warranties, leases, rights, arrangements, and other assets. TelesisIT produced annual revenue of $550,797.97 in 2016 and $542,181.11 in 2017 while producing a net profit annually.
Spencer Payne, CEO of BitFrontier Capital Holdings, states, “The acquisition of TelesisIT is a huge step forward for the Company. TelesisIT will not only add significant revenue and assets to the books, it will provide an opportunity to rapidly expand into the blockchain software industry through existing clients of TelesisIT. We are excited about the opportunity to expand into this huge potential growth industry with experienced professionals who understand how to implement blockchain into their operations.” According to IDC worldwide blockchain spending is anticipated to grow to $9.7B in 2021.
TelesisIT will continue to operate in the same fashion that has made it profitable annually with current management running the business while operating under the BitFrontier umbrella. We will be looking to further expand our portfolio of companies over the coming months with the ambition of building out a solid core of companies. All transactions will be vetted with our shareholders’ interests in mind and with the goal of rapid growth for BitFrontier in 2019.
Latest tweet:
BitFrontier Capital Holdings
@BitFrontierInc
·
$BFCH Several filings have been posted to OTC Markets regarding the AS reduction and elimination of Series A and B Preferred Shares. Non-Shell Designation request also submitted to OTC Markets.
Boring now. Waiting for the next Twitter update.
https://mobile.twitter.com/BitFrontierInc
When they have all five facilities up and running, they should create ~5000 bitcoin a year (per the other sticky note).
Assuming that the profit margin is $1000 per coin (just a guess) after costs, that would equate to $5 million in earnings per year. If the market cap is ~$5 million now, then the forward P/E = 1.
Furthermore, the outstanding shares are only 167,145,701 shares now.
New BFCH market cap is $4,847,225 (or less than $5 Million) based on the 0.029 close today.
Fredericksburg, VA -- June 11, 2019 -- InvestorsHub NewsWire -- BitFrontier Capital Holdings, Inc. (OTC: BFCH) announced today that its transfer agent has processed the share cancellation announced last week.
The Company has posted a supplemental filing to OTC Markets showing the shares that were cancelled, which can be found at: https://backend.otcmarkets.com/otcapi/company/financial-report/223003/content
The Company’s new share structure is 167,145,701 Common Shares outstanding with a float of 164,073,146. These changes have been submitted to OTC Markets by our Transfer Agent and should be reflected very soon. The Company can proceed with a substantial Authorized Share reduction once its share structure updates on OTC Markets.
Additionally, the Company plans to become fully SEC Reporting and has begun the application process to up list to the OTCQB. Among other requirements, this entails obtaining a 2-year audit.
Looks like this new facility is located very near Thompson Tire in Pulaski Virginia.
72 1st St NE, Pulaski, VA 24301
Can anyone else confirm this, or am I way off?
Thanks in advance.
I emailed the company. I will call them on Monday. I suggest others do the same...
1320 Central Park Blvd. Suite 200
Fredericksburg, VA 22401
bitfrontiercapitalholdings.com
540-736-3069
IR@bitfrontiercapitalholdings.com
When is the next quarterly report due out?
Also, nothing on Twitter since the one foundation was poured. Should see building/framing by now.
BFCH website is not kept up to date.
Why?
http://bitfrontiercapitalholdings.com/
Does anyone have any latest pictures of the first facility?