BOTS, INC. Enters Into Profit Sharing Agreement to House Up to Two Thousand Bitcoin and Ethereum Miners
SAN JUAN, PR, Jan. 20, 2022 (GLOBE NEWSWIRE) -- via – BOTS, Inc. (OTC: BTZI), ("BOTS" or "The Company"), a global technology conglomerate specialized in Blockchain-based solutions including decentralized finance applications, cybersecurity, crypto generation, mining equipment repair, extended warranty contracts, and its upcoming proprietary Metaverse based on the terrestrial Las Vegas, () today announced its wholly-owned subsidiary TekX Mining and Gaming PC Solutions, LLC has entered into a strategic partnership with Empire Blockchain Corp. The partnership will primarily engage in research and development of blockchain platforms, cryptocurrency mining, and establishing a resilient supply chain for cryptocurrency mining repairs. The agreement includes an initial supply by Empire Blockchain of 2,000 Bitcoin and ETH mining machines worth approximately US$12.5 million. TekX also has an option to host additional miners upon an expansion of their hosting infrastructure.
Mr. S. Rubin, Interim CEO of BTZI, commented, "We are pleased to partner with Empire Blockchain to continue developing blockchain-powered platforms that integrate technology, hardware, and service. Our research indicates growing demand for newer advanced performance hardware and related mining equipment and repair services. This partnership will advance our position in the cryptocurrency mining industry in the USA. Looking forward, we are convinced in our capacity to help national mining farms to run their operations without interruptions, enabling their success in the growing cryptocurrency industry while enhancing our shareholder's value."
TekX will deploy up to 2,000 Bitmain and ETH miners throughout the partnership expansion plans for 2022. First, TekX will deploy 500 S19 Bitmain AntMiners that currently mine about 100 BTC per year, according to NiceHash's calculations. After deploying all 2,000 miners, the Company expects to generate approximately 200 BTC per year. In addition, TekX's advanced repairs technology will enable the deployed Bitmain miners to operate more efficiently, resulting in less downtime - meaning mining rates could increase. Combining those advantages with an experienced team, it is evident that this partnership creates an opportunity to mine significant numbers of Bitcoin at high-profit margins.
Recent research published by Absolute Reports, titled, Cryptocurrency Mining and Software Market 2022: Global Size, Prominent Players, Business Growth, Explosive Growth Opportunity, and Forecast to 2026: estimates the global Cryptocurrency Mining size to be USD 4,502.4 million in 2026 from USD 4,050.5 million in 2020. The global Cryptocurrency Mining market size is expected to grow at a CAGR of 2.7% for the next five years. The top leading firms in the market are mainly concentrated on new ideas associated with the invention and supply of Cryptocurrency Mining. These policies will let the key players extend their business limits and increase their position in the market.
The addition of Bitcoin Mining capacity will prove to be a strategic advantage to TekX's Mining Repair and its other Cryptocurrency service business sectors.
About BOTS, Inc.
BOTS, Inc. is a global technology company specialized in Blockchain-based solutions, including decentralized finance applications cybersecurity solutions, and owns a portfolio of digital assets and crypto-related businesses such as BeadSwap, a decentralized crypto exchange, Bitcoin ATM machines, and corresponding U.S. patents and Cyber Security Group LLC, an ISO/IEC 27001:2013 Information Security Management System certified company. The Company also provides crypto mining consulting, optimization, and crypto mining equipment repair and insurance.
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Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in the Company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors, including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release, and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's website and filings.
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