BitFrontier Capital Holdings Inc has been on the rise over the past year from lows of well under half a penny to recent highs over $0.04. BFCH operates in the booming Crypto space which has gotten a huge boost lately as BTC soars on the facebook lira hype.
BitFrontier business plan is to concentrate on cryptocurrency related investments and development opportunities through cryptocurrency mining, investments in private and/or public entities, joint ventures and acquisitions of blockchain related companies. BitFrontier Capital Holdings has two wholly owned operating subsidiaries, BitFrontier Capital Investments, Inc. and BitFrontier Technologies, Inc.
Through its wholly owned subsidiary, BitFrontier Technologies, Inc., the Company is building a warehouse specifically designed for hosting cryptocurrency mining equipment. Cryptocurrency mining (e.g. bitcoin mining) entails running ASIC (application-specific integrated circuit) servers or other specialized servers which solve a set of prescribed complex mathematical calculations in order to add a block to a blockchain and thereby confirm digital asset transactions. A party which is successful in adding a block to the blockchain is awarded a fixed number of digital assets in return.
Earlier this year the Company secured permits to begin construction of its first cryptomining facility. Arrangements were made to expeditiously complete the building process. According to the Company contractors have finished construction of the foundation ahead of schedule. Pictures of the construction process and the finished slab may be found on the Company’s twitter page.The Company can begin to assemble its first prefabricated steel warehouse, which is already on site once the foundation has cured. The company expects to start construction of the warehouse towards the end of this week.
The Company has been following through on its intent to become fully SEC Reporting and has begun the application process to up list to the OTCQB. Among other requirements, this entails obtaining a 2-year audit. Earlier this year the Company cancelled a significant amount of stock bringing the share structure to 167,145,701 Common Shares
On June 14 BFCH announced a shareholder update; its outstanding share count has now been updated on OTC Markets and verified by our transfer agent to reflect the recent 12,260,000,000 share cancellation. The Company is still waiting for its float to be updated on OTC Markets.
The Company has also filed its quarterly report for the period ended March 31, 2019. These numbers reflect the acquisition of TelesisIT from January 25, 2019 through March 31, 2019. With this acquisition complete, the Company will obtain Pink Current status as well as have the shell icon removed from its’ OTC Markets profile. Additionally, the Regulation A Offering that was qualified by the SEC on June 14, 2018 is now closed. This will allow the company to reduce its authorized share count to an amount management feels will be most beneficial to its shareholders.
Spencer Payne, the CEO of BitFrontier Capital Holdings, stated,
“Our main objective is implementing changes that we believe will increase shareholder value moving forward. I believe with the recent victory of cancelling approximately 99% of the issued and outstanding shares, and the long drawn out legal hurdles that entailed, lays the precedent and shows the extent management will go to both protect and increase shareholder value both short term and long term.”
Currently trading at a $5.4 million market valuation BFCH has little on the books including very little current liabilities. The Company is making moves as it continues to build out the foundation of their first crypto mining facility and recently announced contractors have finished construction of the foundation ahead of schedule. As bitcoin continues to rise Investors have been catching on to BitFrontier and the stock is slowly waking up.
Christopher Ferraris is a third-year student at Temple University in Philadelphia. Having already completed an Associates Degree in Psychology, Christopher is now finishing his Bachelor’s degree in Finance. In preparation for working in the financial sector, Christopher is writing financial content and analysis. Every day, Christopher works on articles regarding the following topics: finance, cryptocurrency and technology.