Bullet Secured 3,500 ASIC Miners in July As Anticipated; Exceeding Expectations with an Increased Capacity Totaling 200 Megawatts for 6,000 Petahash Over the Next 12 Months
CORK, REPUBLIC OF IRELAND / ACCESSWIRE / August 2, 2021 / Bullet Blockchain LTD ('Bullet' or the 'Company'), a turnkey crypto mining operation focused on efficiency, stability, transparency and scalability, announced today, that as of July 29th, 2021, the Company took possession of 3,500 ASIC Miners-solidifying its bitcoin mining operations. Further, through Bullet's infrastructure partners, management increased its ‘year-one' anticipated buildout capacity up to a 200 megawatt facility (vs. the 100 megawatts that were originally anticipated), for a hash rate capacity of 6,000 petahash.
In a previous press release, the Company announced that management anticipated securing 3,500 next generation ASIC miners by July 2021, and launching its bitcoin mining operations during the 3rd QT of 2021. Management is happy to have met its initial expectations of securing the bitcoin miners timely-equally as pleased that the Company will begin its bitcoin mining operations on schedule, and excited to have exceeded capacity expectations by adding an additional 100 megawatts to the 12-month buildout plan of the facility, for nearly 2.3x more petahash.
Management continues to assert that Bullet is a well-capitalized upstart in the crypto mining space, with a large part of its value and viability being, that the Company is well insulated within the ecosystem created by its infrastructure partners. Management believes that it is this relationship that will help support a successful entry into the U.S. Public Markets.
Management has indicated, that with the assistance of the Public Accelerator-Incubator, Digital Asset Monetary Network, Inc. ('DigitalAMN'), the attention has now turned toward completing a merger with a U.S. publicly traded company trading via the OTC Markets. Management believes that DigitalAMN's efforts will yield the intended results, completing Bullet's contemplated merger within the next 90 days.
For more information, please visit https://bulletblockchain.com/.
Bullet Blockchain, LTD is a blockchain technology company in the Republic of Ireland that secures the bitcoin blockchain ledger. Bullet has secured partnerships that affords the Company access to highly coveted hardware, land, buildings, gas, generators, racks, security, etc. Bullet has secured 200 megawatts of electricity and infrastructure capacity for 6,000 petahash and has deployed an initial hardware fleet of 3,500 next generation ASIC miners-focused on bitcoin mining--with an initial hash rate capacity of 315 petahash and 12 megawatts of electricity.
Bullet is confident it can manage its bitcoin mining operations at a far lesser cost per kilowatt than industry competitors, therefore producing bitcoin at a lower cost with greater profit. Bullet is focused on efficiency, stability, transparency, and scalability, and plans to swiftly scale operations to 60,000 miners within the next 12 months.
For investor and general information, please email contact@BulletBlockchain.com.
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact constitute 'forward-looking statements.' Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as 'believes,' 'belief,' 'expects,' 'expect,' 'intends,' 'intend,' 'anticipate,' 'anticipates,' 'plans,' 'plan,' to be uncertain and forward-looking. No information in this press release should be construed as any indication whatsoever of our future revenues, stock price, or results of operations.
SOURCE: Bullet Blockchain LTD
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