We will all see soon enough. Re read this PR from a year ago. The last couple paragraphs are my favourite!
CGAC Completes $894,325 Purchase of 412 Bitcoin Miners, Mining Operations Underway
Dripping Spring, TX -- April 28, 2023 -- InvestorsHub NewsWire -- Code Green Apparel Corp. (OTC: CGAC), a Bitcoin mining company, announces the successful $894,325 purchase of 412 Antminer S19 Pro+ (Bitcoin miners) machines, bringing CGAC's total fleet of miners to cumulative 517 miners. The 412 Antminer S19 Pro+ will begin production in two weeks. CGAC used funds in the private sale of a first tranche of secured promissory notes, with a maximum possible funding of $5,000,000.
Logan Rice, CGAC's CEO, stated, "We are thrilled to unveil the initial results of our recently established finance program aimed at expanding our fleet of machines. This initial phase of our funding program aims to raise $5,000,000 in long-term debt. The financing package will include issuing restricted shares for no more than 4.99% of our stock." Mr. Rice continued, "The company is dedicated to protecting its treasury and will issue shares sensibly to capitalize on the fleet of machines we plan to build. This move reflects Code Green's commitment to growth and expansion in the industry while maintaining responsible financial practices."
CGAC has partnered with ASICMiners.us and Liquid Immersion Worldwide, Inc., wholly owned subsidiaries of Bit Frontier Capital Holdings (OTC: BFCH), to increase production of the Antminer S19 Pro+ by 50%. This arrangement will allow CGAC to overclock these machines in a specially engineered Liquid Immersion tank produced by Liquid Immersion Worldwide, Inc.
"The purchase of these Antminer S19 Pro+ machines also represent a strategic move for us, as the Liquid Immersion will allow us to increase our production capabilities significantly, resulting in higher operating efficiency, a better rate of return, and, as we stay true to our commitment to low overhead, a better chance for our shareholders to receive cash dividends, which is out stated objective," added Mr. Rice
The Antminer S19 Pro+ is one of the most reliable Bitcoin mining machines available, producing a stock 122 t/h out of the box. With this strategic partnership, CGAC is poised to increase its Bitcoin mining capabilities and profitability significantly.
About CGAC:
Code Green Apparel Corp. is a Bitcoin mining company uniquely positioned within the OTC space. CGAC will treat its mined Bitcoin as a traditional commodity, like a gold mining company. CGAC will mine Bitcoin, then sell the mined Bitcoin for cash, and (3) regularly declare and distribute dividends concerning Available Cash (established by our Board of Directors)
To our shareholders. CGAC's primary business objective is to continually increase its Bitcoin mining capacity and increase cash available for distribution as a dividend to its shareholders.
Bullish
