FRUITLAND, ID, March 5, 2021 – XTRA Bitcoin Inc, (OTC Pink: CBTC) announces today to received 37 new ASIC T17 55 TH/s miners at their RINK facility in Manitoba, Canada in April 2020. Due to Covid-19 pandemic, Canada closed the border and XTRA’s American staff was unable to enter Canada to perform installation and deployment. As this was originally seen as a temporary measure, XTRA waited. When Canada extended the restrictions to the 3rd and 4th Quarters of 2020, with no end in sight, XTRA arranged to have their miners hosted in a third-party facility. XTRA signed a 6-month hosting agreement and paid the electrical deposit in December 2020. Host installed the miners and began mining on December 21, 2020.
Initial Testing of new miners revealed 4 defective miners, each containing 3 failed hash boards. Initial hash rate achieved was 1.673 PH/s with ongoing chip and power supply equipment failures reducing performance to 1.0215 PH/s by February 25, 2021. XTRA is sourcing replacement power supply units (psu) to restore performance.
Bitcoin revenue for 2 months of mining thru February 25, 2021 is 0.612325 bitcoin.
XTRA is working to raise capital and increasing its mining capacity. We will be engaging an attorney, accountant, and auditor to prepare a Reg A offering to raise funding to develop our facilities and increase our mining hash-power. We expect attorney letter to be completed next week to bring OTC to PINK current reporting.
XTRA Bitcoin Inc has moved its office to 912 Bobwhite Street, Fruitland, Idaho 83619 and installed a new telephone number: 1-208-452-4566.
Our discussion may include predictions, estimates or other information that might be considered forward-looking. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this presentation. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. You should also review our most recent filings for a more particular discussion of these factors and other risks, particularly under the heading “Risk Factors”.
SOURCE: XTRA Bitcoin Inc.