CORK, REPUBLIC OF IRELAND / ACCESSWIRE / August 14, 2021 / Bullet Blockchain LTD. ("Bullet" or the "Company"), a turnkey crypto mining operation focused on efficiency, stability, transparency and scalability, announced today, that the Company has completed its reverse merger to enter the U.S. public marketplace.
While Bullet's management is excited to provide particular details regarding the reverse merger, it plans to do so on Monday, August 16th, 2021. This should give the public entity that the Company has merged with, the time needed to complete the necessary filings to formally codify the merger with the Nevada Secretary of State.
Merger documents have been executed between Bullet and an alternative reporting, OTC Markets, pink sheet company (incorporated in the State of Nevada) that is not yet current with its filings. However, management anticipates that they will be able to bring the public entity current with its filings in fairly short order; particularly because, the Public Accelerator-Incubator, Digital Asset Monetary Network, Inc. ('DigitalAMN'), had previously began assisting the target Company with this endeavor. One other important item to note, is that much care and attention is being given to how the public entity will ultimately be restructured. While it may often be customary to reorganize the capitalization table (i.e. reverse stock splits, increase to authorized shares, etc.), management is committed to protecting existing shareholders, during and after any restructuring that might occur.
This is particularly true as Management's intent is to continuously build shareholder confidence through operating a successful business and delivering on the Company's long-term value proposition. And of course this begun with the Company having already met expectations - taking possession of 3,500 ASIC Miners to solidify its initial bitcoin mining operations on time. Management believes this has allowed Bullet Blockchain to responsibly enter the U.S. public marketplace with its bitcoin miners fully operational.
For more information, please visit https://bulletblockchain.com/.
Bullet Blockchain, LTD. is a blockchain technology company in the Republic of Ireland that secures the bitcoin blockchain ledger. Bullet has secured partnerships that affords the Company access to highly coveted hardware, land, buildings, gas, generators, racks, security, etc. Bullet has secured 200 megawatts of electricity and infrastructure capacity for 6,000 petahash and has deployed an initial hardware fleet of 3,500 next generation ASIC miners-focused on bitcoin mining - with an initial hash rate capacity of 315 petahash and 12 megawatts of electricity.
Bullet is confident it can manage its bitcoin mining operations at a far lesser cost per kilowatt than industry competitors, therefore producing bitcoin at a lower cost with greater profit. Bullet is focused on efficiency, stability, transparency, and scalability, and plans to swiftly scale operations to 60,000 miners within the next 12 months.
For investor and general information, please email [email protected].
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact constitute 'forward-looking statements.' Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as 'believes,' 'belief,' 'expects,' 'expect,' 'intends,' 'intend,' 'anticipate,' 'anticipates,' 'plans,' 'plan,' to be uncertain and forward-looking. No information in this press release should be construed as any indication whatsoever of our future revenues, stock price, or results of operations.
Contact: [email protected]
SOURCE: Bullet Blockchain LTD