Hong Kong, Oct. 02, 2023 (GLOBE NEWSWIRE) -- Moxian (BVI) Inc. (NASDAQ: MOXC), is proud to announce the launch of its subsidiary, ABit USA's, groundbreaking bitcoin self mining site. As a fully owned subsidiary of Moxian, ABit USA has established itself as a key player in the cryptocurrency mining industry, and this latest venture marks a significant milestone in the company's growth and innovation.
In April 2023, ABit USA secured a prime piece of land in Duff, Tennessee, to construct a state-of-the-art digital data center. After months of meticulous planning and construction, the facility is now nearing completion and is set to commence operations on October 2.
This remarkable site represents the first bitcoin self mining endeavor for Moxian (BVI) Inc. The cutting-edge facility has been purposefully built with the new generation of hydro mining facilities, powered by a new generation of hydro system.
On October 1st, the first fleet of hydro miners will be activated, marking the beginning of an exciting new chapter for MOXC. Over the following months, the remaining mining fleets, with a combined capacity of up to 10MV, will be fully deployed on-site, solidifying the company's position as a prominent player in the cryptocurrency mining sector.
By leveraging these advanced hydro miners and employing an efficient hydro system, MOXC is proud to maximize productivity while minimizing their environmental impact. With a power consumption of only 20.8J hydro machine and relatively reasonable electricity costs, the Company anticipates a remarkable 65% gross profit even when the Bitcoin price stands at $26,000 USD.
This milestone achievement underscores Moxian (BVI) Inc.'s commitment to innovation, sustainability, and the pursuit of excellence within the cryptocurrency mining industry. As the global demand for cryptocurrencies continues to soar, ABit USA's cutting-edge bitcoin self mining site is poised to make a significant income for the Company.
About Moxian (BVI) Inc.:
Moxian (BVI) Inc. (NASDAQ: MOXC) is a U.S. based provider of next-gen digital data centers with self-mining operations.
Forward-Looking Statements
This announcement contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934 as amended. These forward-looking statements are based on the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and may be governed by terms such as “will,” “expect,” “anticipate,” “future,” “intend,” “plan,” Believe, “estimate”, “potential”, “continue”, “in progress”, “goal”, “guidance expectations” and similar statements are identified. The company may also include in its periodic reports to the US Securities and Exchange Commission (“SEC”), annual reports to shareholders, press releases and other written materials, as well as oral statements from third parties to the company’s management, directors or employees. Oral forward-looking statements. Any statements that are not historical facts, including statements about the company’s philosophy and expectations, are forward-looking statements that involve factors, risks, and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These factors and risks include, but are not limited to, the following: company’s goals and strategies; future business development; financial status and operating results; expected growth of China’s credit industry, especially the expected growth of China’s online lending platform; market-oriented and credit products and The demand and acceptance of services; and the ability of credit to attract and retain borrowers and lenders in the market; the relationship between the company and strategic partners; industry competition; and policies and regulations related to the company’s structure, business and industry. More detailed information about these and other risks and uncertainties is included in the company’s filings with the Securities and Exchange Commission. All information provided in the company’s introduction is the latest information as of the date of publication of the company. Except as provided by applicable law, the company is not obligated to update such information.
For further information, please contact:
Wanhong Tan
Chief Financial Officer
+852 9855 6575
yf@abitgrp.com
