Coin Citadel (CCTL)

[SwanSong99]

From the 2019 Financials:
The Company has built a cryptocurrency mining operation, operating ASIC specialized computers manufactured by Bitmain Tech, designed specifically to mine Bitcoin (BTC) The company initially started out as a colocation facility, hosting other company’s machines. In a slow transition over two years, it began buying its own ASIC’s and mining for itself. As of December 31, 2019, the Company owned a few hundred Bitcoin miners. Coin Citadel is also mining numerous other Crypto Currencies to include, BCH, BSV, LTC, ZEC, DASH, an d ETH

CCTL operates a recently updated cryptocurrency mining facility for the sole purpose of mining cryptocurrencies (primarily bitcoin, and to a much lesser degree litecoin and bitcoin cash). Our facility and mining platform are operating with the primary intent of accumulating bitcoin which we may sell for fiat currency from time to time depending on market conditions and management’s determination of our cash flowneeds. Our mining operation in Plattsburgh NY hosted about 1,000 ASIC miners during 2018 and 2019,wh ere we have access up to approximately 6 megawatts of power supplied to our leased facility. In 2019 we started mining with more of our own miners. Our goal is be have no co location clients and mine 100% with our own machines.The Company is currently evaluating plans for its miners previously acquired in 2017 / 2018,which are slowly being taken offline as we upgrade our miners.