Sacramento, CA, Sept. 14, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Spotlight Growth has published new content on BitFrontier Capital Holdings, Inc. (OTC PINK: BFCH). BitFrontier Capital Holdings operates as a cryptocurrency holding company, which currently has two wholly-owned subsidiaries: BitFrontier Capital Investments, Inc. and BitFrontier Technologies, Inc. The Capital Investments division will focus on making investments into public/private companies, acquiring blockchain companies, joint ventures, and more. The Technologies division will house the company’s cryptomining operations and facilities.
The report provides an overview of BitFrontier Capital Holdings, its subsidiaries, the history of Bitcoin crashes, analysis of current cryptocurrency climate, and more.
Tom Lee: Bitcoin Could Still Possibly Hit $25,000 By End of 2018
Fundstrat CEO Tom Lee is a very notable Bitcoin bull that is often featured on CNBC for his insight and history of handful of successful predictions in crypto space. In January 2018, Lee initially predicted that Bitcoin would hit $25,000 by the end of 2018. However, a few months later, the Wall Street analyst cut his end-year price target to $22,000.
Just in the past week, Tom Lee told CNBC that he “still thinks it’s possible” that Bitcoin could hit the $25,000 mark by the end of 2018. Lee noted the strong correlation between the underlying price of Bitcoin and the emerging markets sector.
“Both really essentially peaked early this year, and they both have been in a downward trend… Until emerging markets begin to turn, I think in some ways that correlation is going to hold and tell us that sort of the risk on mentality is those buyers aren’t buying Bitcoin,” says Tom Lee.
It is also important to mention that Bitcoin has seen its fair share of crashes and bull-runs over its 10-year history. According to HowMuch.net, Bitcoin has suffered at least thirteen different crashes that resulted in losses of 30% or greater.
The worst Bitcoin crash took place between November 30, 2013 and January 14, 2015, in which the cryptocurrency saw prices dive from $1,163 to $152.40. This drop represented a loss of 87% over a 411-day period.
The second worst Bitcoin crash came during April 10, 2013 to April 12, 2013, when prices collapsed 83% over a three-day period. Bitcoin’s price dropped from $259.34 to $45.00 during the “flash collapse.”
Bitcoin’s history of crash and recovery is well-documented, yet many people seem to question if something is different this time around. There is no doubt that Bitcoin and cryptocurrency, in general, has some serious volatility concerns, but adoption and public interest has only continued to explode over the past decade.
BFCH: About to Begin Construction of First Cryptomining Facility, Hires Special Counsel to Cancel 12.26 Billion Shares of Common Stock
BitFrontier Capital Holdings continues to be extremely focused on progressing on its cryptomining facility, which is located on 1.3 acres of industrial land in Virginia. Management notes that the site has been cleared and the next stages of the process are currently underway. Over the Summer, management has been extremely active with obtaining all the necessary permits, paperwork, utilities, and other government approval in order to properly construct and run the mining facility.
Once construction is complete, the warehouse will be able to store around 112 network server racks, which will hold 18 miners per rack for a total of 2,016 mining machines per facility. Management currently plans to construct as many as five total cryptomining facilities, which would be able to hold around 10,080 total cryptomining machines.
In recent news:
20th- BitFrontier Capital Holdings, Inc. announced that its Regulation A offering had been officially qualified by the Securities and Exchange Commission (SEC). This allowed the company to effectively begin collecting on its Reg A offering in order to secure funding for construction, mining machine purchases, etc.
29th- BitFrontier Capital Holdings announced that it had signed a ground lease for 1.3 acres of industrial land in Virginia. About 1 acre of the total land will be fenced in and secured from outside entry.
“This building site was selected over other potential locations for several key factors:
- The average cost of industrial electricity in the area is 6.53c/kWh. With industrial rates in in the U.S. ranging from 4.13c/kWh to 30.82c/kWh, we are well under the national average cost of industrial electricity in the U.S. providing greater profit margins for our mining operations,
- The average temperature is approximately 53°F, which is more than optimal for operating mining equipment. We will not be required to run costly air-conditioning equipment for the miners, and instead will have an evaporative cooling system, which will cut the electrical costs for cooling the miners significantly compared to traditional air-conditioning,
- It is large enough to accommodate four of our mining facilities,
- It has already been approved for industrial operations, which should facilitate easy access to building and operating permits,
- And the leasing entity has expressed interest in selling the property to us in ten years when the lease expires.”
7th- The company announced that it had retained Hathaway & Kunz, LLP to be the company’s special counsel with regards to cancelling over 12 billion shares of BitFrontier’s common share count. Specifically, management is looking to cancel 12.26 billion shares of BFCH (which makes up nearly 99% of total outstanding shares), which was allegedly “improperly issued shares by former management.” The special counsel is expected to file a Complaint for Declaratory Judgement to cancel the 12.26 billion shares with the court system shortly.
BitFrontier Capital Holdings was also recently featured on an episode on our online web-series, Spotlight Growth Live. To view the video, please visit: http://spotlightgrowth.com/index.php/video/
For more information on BitFrontier Capital Holdings, please visit https://bitfrontiercapitalholdings.com and http://spotlightgrowth.com/index.php/2018/09/13/bitfrontier-capital-holdings-inc-otc-pink-bfch-an-up-and-coming-diversified-cryptocurrency-mining-company/
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