FREDERICKSBURG, VA, Jan. 30, 2018 (GLOBE 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.
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.
BitFrontier Capital Holdings
Source: Purio, Inc.
© 2018 GlobeNewswire, Inc.
The original Press Release can be found here.