With a capex of $ 25 million for mining infrastructure and equipment, Bullet sets course at 2,625 Petahash consuming 100 megawatts in 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, today announced that the company will officially launch its mining operations bitcoins in the 3rd QT of 2021, mining bitcoin with the use of 3,500 next-generation ASIC miners, having hash rate capacity of 315 petahash, consuming 12 megawatts of electricity.
Management reported that Bullet Blockchain has invested around $ 14.5 million of the capital ($ 25 million total Capex) that the company has secured from investors. The money has been invested in infrastructure and hardware, which includes 3,500 A1246 miners and the construction of the “ off-grid ” site, which supports 12 megawatts of capacity. Bullet has completed construction of the physical site and plans to take delivery of the ASIC servers by July.
In addition, management has indicated that the initial 12 megawatts developed is the first step in a three-part construction of a total 100 megawatt facility, supporting a hash throughput capacity of 2,625 petahash. Bullet plans to complete the next two phases of the 100-megawatt construction within 12 months.
While Bullet is a well-capitalized upstart in the crypto mining space – initially focused on bitcoin mining, management believes that much of its value and viability is rooted in the ecosystem from which the company operates. Bullet is in a “turnkey” environment, where the company is aligned with well-positioned infrastructure partners. This allows Bullet to have immediate access to highly coveted hardware and the freedom to have meaningful access to land, buildings, gas, generators, racks, security, and more.
More importantly, management firmly believes that it can run its bitcoin mining operations more efficiently, at a much lower cost than its competitors. Bullet stands for efficiency, stability, transparency and scalability. Management is confident that the company will instill confidence and add value to its current and future shareholders.
Bullet Blockchain LTD is seeking to enter US government 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/.
About Bullet Blockchain
Bullet Blockchain, LTD is a Bitcoin mining company based in the Republic of Ireland. With a Capex of $ 25M, Bullet has secured partnerships that allow it to access equipment, land, buildings, gas, generators, racks, security systems, and more. highly coveted. Bullet has secured 100 megawatts of electricity and infrastructure capacity and will deploy an initial fleet of 3,500 next-generation ASIC miner hardware focused on bitcoin mining – with an initial hash rate capacity of 315 petahash consuming 12 megawatts electricity.
Bullet is confident that it can run its bitcoin mining operations at a much lower cost per kilowatt than its industry competitors, thereby producing bitcoin at a lower cost with greater profit. Bullet focuses on efficiency, stability, transparency and scalability, and plans to scale operations rapidly within 12 months.
For investors and general information, please send an email to [email protected]
Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements”. These forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company’s actual operating results to differ materially from any historical results or from any future results expressed or implied in these. forward-looking statements. In addition to statements which explicitly describe these risks and uncertainties, readers are cautioned to consider statements containing terms such as “believes”, “belief”, “expects”, “expects”, “has the” intention “,” intends “,” anticipates, “” anticipates “,” plans “,” plans “, uncertain and forward-looking.
SOURCE: Bullet Blockchain LTD
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