FREDERICKSBURG, VA -- January 30, 2018 -- InvestorsHub
NewsWire -- Purio, Inc. (OTC PINK: PURO) announces its 2018
roadmap for the development and buildout of its cryptocurrency
mining facilities. We are in the final stages of finishing the
Regulation A offering which will provide the Company the funds
it needs to effectively implement its business plan.
We have designed a 7,500 square foot warehouse with 1,250 square
feet in the back to store electrical equipment and transformers to
operate the mining equipment. The middle 5,000 square feet will
consist of a hot aisle venting exhaust through the roof and a cold
aisle which will pull in fresh air from the outside, eliminating
the need for costly AC equipment, lowering the overall electrical
cost to host and operate the mining equipment. The equipment will
be stored in 112 network server racks, with 18 miners in each rack
for a total of 2,016 miners per facility. The remaining 1,250
square feet up front will be for maintenance of the mining
equipment which we plan to do on site, keeping the miners online
and producing revenue with as little downtime as possible.
The current plot of industrial land we are looking to purchase
will be able to accommodate 5 of these facilities. If we are able
to raise the maximum amount of the Regulation A offering, we will
be able to complete four out of the five facilities, with the
remaining facility being built soon after with the revenue of the
1st four facilities.
As each facility will be able to accommodate 2,016 miners, our
total hash rate per facility will be 28,224 TH/s (Tera Hashes) or
14 TH/s per miner with approximate power usage of 3 MW (Megawatts).
With all five facilities built, will be able to host 10,080 miners
for a total hash rate of 141,120 TH/s consuming approximately 15 MW
of electricity.
With all five facilities at full capacity, the Company will be
able to generate revenues of approximately 51 million per year,
mining close to 5,000 Bitcoin annually. These numbers are current
only as of the date of this press release and will depend upon a
number of factors including the price of Bitcoin, electricity
costs, the total network hash rate and the block reward. See the
disclosure at the end of this press release to see the exact
numbers used in this calculation. The Company is currently working
on implementing a cryptocurrency mining profitability calculator on
its website where investors will be able to calculate the
profitability in real time.
The 12 Month Milestones stated below encompass what management
believes the Company needs to accomplish to be successful and is
broken down by quarters.
Quarterly Milestones:
A. 0-3 Months
· Purchase
land to build our first cryptocurrency mining facility.
· Hire the
necessary contractors to build the facility, as well as hire
electricians to install the necessary equipment for our
cryptocurrency mining facilities.
· Once the
facility has been built, begin the buildout including installing
server racks, network components, servers, power distribution units
and mining
rigs.
· Begin
offering a hosting service for outside miners owned by other
individuals or companies in exchange for a management/hosting
fee.
· We
anticipate starting to generate revenue during this quarter from
our cryptocurrency mining operations.
· Complete
accounting including the quarter ended March 31, 2018.
B. 4-6 Months
· Begin the
buildout of our second and third cryptocurrency mining
facilities.
· Evaluate the
profitability of additional cryptocurrencies involving the use of
GPU based miners, and potentially start to deploy them if
profitable.
· Initiate
search for additional key personnel with the goal of hiring entry
level technicians to maintain the day to day operations at each
facility.
· Complete
accounting including the quarter ended June 30, 2018.
· Appoint
1-2 additional independent Board members.
C. 7-9 Months
· Begin the
buildout of our fourth cryptocurrency mining facility.
· Identify
entities with technologies that we believe to be valuable in the
blockchain space, with an emphasis on finding strategic
technologies that we can deploy in our mining farms.
· Complete
accounting including the quarter ended September 30, 2018.
· Thorough
evaluation of the Company’s business plan to date with a focus on
profitability and sustainability.
· Begin to
evaluate renewable energy options to power our facilities.
D. 10-12 Months
· Begin the
buildout of our fifth cryptocurrency mining facility.
· Continue
to seek strategic acquisitions, or if one was previously found,
begin to implement the technology in the mining facilities.
· Review
the mining operations as needed, and make sure they are operating
at full capacity effectively.
· Begin
searching for additional land to continue expanding our mining farm
operations. We will be looking for areas with an overall cool
climate and cheap electricity.
· Complete
accounting including the year ended December 31, 2018.
· Develop
business plan for years two and three.
Additionally, the Company has been working with FINRA to
complete its name and ticker change. We have responded to all
requests for additional information and are currently waiting for
FINRA to set an effective date for the name and ticker change. We
are also still working with our securities attorney regarding the
approximately 12 billion restricted shares of Common Stock issued
to previous management. We will provide additional updates for both
as soon as we have them.
Additional information about BitFrontier Capital
Holdings will be available soon on the Company's website
at https://bitfrontiercapitalholdings.com and current
updates are posted regularly on Twitter
at https://twitter.com/BitFrontierInc. ;
About BitFrontier Capital Holdings,
Inc. fka Purio, Inc.
BitFrontier Capital Holdings is a blockchain-oriented Company
focused on the cryptocurrency markets. We plan on expanding
operations in the Bitcoin mining industry and see great potential
in this rapidly expanding sector. Bitcoin mining is the process by
which transactions are verified and added to the public ledger,
known as the blockchain, and also the means through which new
Bitcoins are released.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the
matters discussed in this press release contain forward-looking
statements that involve risks and uncertainties, including those
described in the Company's reports and filings at
http://otcmarkets.com.
Certain statements contained in this release that are not
historical facts constitute forward-looking statements, within the
meaning of the Private Securities Litigation Reform Act of 1995,
and are intended to be covered by the safe harbors created by that
Act. Reliance should not be placed on forward-looking statements
because they involve unknown risks, uncertainties and other
factors, which may cause actual results, performance or
achievements to differ materially from those expressed or implied.
Forward-looking statements may be identified by words such as
estimates, anticipates, projects, plans, expects, intends,
believes, should and similar expressions and by the context in
which they are used. Such statements are based upon current
expectations of the Company and speak only as of the date made.
Disclosure: Mining metrics are calculated based on a network
hash rate of 18,633,837,452 GH/s and using a BTC - USD exchange
rate of 1 BTC = $ 10,326.24. These figures vary based on the total
network hash rate and on the BTC to USD conversion rate. Block
reward is fixed at 12.5 BTC and future block reward reductions are
not taken into account. The average block time used in the
calculation is 600 seconds. The electricity price used in
generating these metrics is $ .0653 per kWh. Network hash rate
varies over time, this is just an estimation based on current
values.
Contact:BitFrontier Capital Holdings
Investor Relations: IR@bitfrontiercapitalholdings.com
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