Possible Reverse Merger With U.S. Public Company May Assist Bullet Blockchain in Accelerating Anticipated 100 Megawatt Rollout Schedule
REPUBLIC OF IRELAND / ACCESSWIRE / April 26, 2021 / Bullet Blockchain LTD (‘Bullet’ or the ‘Company’), a turnkey crypto mining operation targeted on stability, transparency and scalability, introduced at this time, that for the previous three months, administration had been exploring alternatives to entry the public markets via a potential merger with a U.S. publicly traded firm, that’s both already working inside the digital expertise area, or looking for to presumably transition towards the digital expertise area
Mergers are widespread in the public markets, significantly inside the microcap area. There are many components usually thought of when figuring out which alternative will make the most complementary match. Such issues could embody (however are usually not restricted to) the goal firm’s cap desk, fundamentals, price, and total philosophy. Management indicated that they’ve reviewed a number of alternatives sourced from inside their community.
Bullet has just lately introduced the launching of a bitcoin mining operation with 3,500 ASIC miners, producing 315 petahash, consuming 12 megawatts. Management indicated that the Company invested roughly $14.5M of the whole Capex of $25M secured from its buyers. Management additionally indicated that whereas operations are slated to launch with 12 megawatts [315 petahash], the instant goal is to buildout a 100 megawatt facility, supporting a hash price capability of two,625 petahash, inside 12 months of launching their bitcoin mining operations. This is a part of the reasoning in seeking to checklist in the U.S. public markets.
Although Bullet has already plotted a course to 100 megawatts inside 12 months, if Bullet can correctly leverage the U.S. capital markets, administration anticipates that the Company could presumably have the alternative to scale barely sooner. Additionally, administration believes that as a public Company, Bullet could finally be capable of display a worth proposition that would lengthen past income technology from bitcoin mining. This would additional the potential for higher monetary viability, enterprise alternative and shareholder confidence.
With the help of the Public Accelerator-Incubator, Digital Asset Monetary Network, Inc. (‘DigitalAMN’), and supplied there are not any regulatory hindrances, Bullet plans to transition into the public markets, through a reverse merger, anticipated to happen inside the 2nd Qt of 2021.
For extra data, please go to https://bulletblockchain.com/.
About Bullet Blockchain
Bullet Blockchain, LTD is a bitcoin mining firm headquartered in the Republic of Ireland. With a Capex of $25M, Bullet has secured partnerships that afford the Company entry to extremely coveted {hardware}, land, buildings, fuel, mills, racks, safety, and so on. Bullet has secured 100 megawatts of electrical energy and infrastructure capability and can deploy an preliminary {hardware} fleet of three,500 subsequent technology ASIC miners-focused on bitcoin mining–with an preliminary hash price capability of 315 petahash consuming 12 megawatts of electrical energy.
Bullet is assured it may well handle its bitcoin mining operations at a far lesser price per kilowatt than trade opponents, due to this fact producing bitcoin at a decrease price with higher revenue. Bullet is concentrated on effectivity, stability, transparency, and scalability, and plans to swiftly scale operations inside 12 months.
For investor and common data, please e-mail [email protected].
Forward-Looking Statements
Statements on this press launch that aren’t statements of historic or present truth represent ‘forward-looking statements.’ Such forward-looking statements contain recognized and unknown dangers, uncertainties and different unknown components that would trigger the Company’s precise working outcomes to be materially completely different from any historic outcomes or from any future outcomes expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these dangers and uncertainties, readers are urged to think about statements that comprise phrases corresponding to ‘believes,’ ‘perception,’ ‘expects,’ ‘count on,’ ‘intends,’ ‘intend,’ ‘anticipate,’ ‘anticipates,’ ‘plans,’ ‘plan,’ to be unsure and forward-looking.
SOURCE: Bullet Blockchain LTD
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https://www.accesswire.com/642261/Bullet-Blockchain-Leans-Towards-Entering-the-US-Markets-With-Merger
