With A Capex of $25M for Mining Infrastructure and Hardware, Bullet Plots Course to 2,625 Petahash Consuming 100 Megawatts Within 12 Months
CORK, REPUBLIC OF IRELAND / ACCESSWIRE / April 18, 2021 / Bullet Blockchain LTD ("Bullet" or the "Company"), a turnkey crypto mining operation focused on stability, transparency and scalability, announced today, that the company will officially launch its bitcoin mining operations in the 3rd QT of 2021, mining bitcoin with the use of 3,500 next generation ASIC miners, having a hash rate capacity of 315 petahash, consuming 12 megawatts of electricity.
Management indicated that Bullet Blockchain has invested approximately $14.5M of the capital ($25M Total Capex) that the Company secured from investors. The money was invested into infrastructure and hardware, which consists of 3,500 A1246 miners and the buildout of the ‘off-grid' site, which supports 12 megawatts of capacity. Bullet has completed the build of the physical site and expects to take delivery of the ASIC servers by July.
Further, management has indicated that the initial 12 megawatts developed, is the first stage of a three-part buildout of a total 100 megawatt facility, supporting a hash rate capacity of 2,625 petahash. Bullet anticipates completing the next two phases of the 100 megawatt buildout within 12 months.
While Bullet is a well-capitalized upstart in the crypto mining space - initially focused on bitcoin mining, management believes that a large part of its value and viability is rooted within the ecosystem from which the Company operates. Bullet is in a ‘turnkey' environment, where the Company is aligned with well positioned infrastructure partners. This affords Bullet the benefit of immediate access to highly coveted hardware and the freedom of having significant access to land, buildings, gas, generators, racks, security, etc.
Most important, management firmly believes that it can run its bitcoin mining operations more efficiently, at far less cost than its competitors. Bullet is about efficiency, stability, transparency and scalability. Management is confident that the Company will instill confidence, and bring value, to its current and future shareholders.
Bullet Blockchain LTD looks to enter the U.S. public markets and has engaged the Public Accelerator-Incubator, Digital Asset Monetary Network, Inc. ("DigitalAMN"), to assist with this transition.
For more information, please visit https://bulletblockchain.com/.
Bullet Blockchain, LTD is a bitcoin mining company headquartered in the Republic of Ireland. With a Capex of $25M, Bullet has secured partnerships that affords the Company access to highly coveted hardware, land, buildings, gas, generators, racks, security, etc. Bullet has secured 100 megawatts of electricity and infrastructure capacity and will deploy an initial hardware fleet of 3,500 next generation ASIC miners-focused on bitcoin mining--with an initial hash rate capacity of 315 petahash consuming 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 within 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.
SOURCE: Bullet Blockchain LTD
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