BitFrontier Capital Holdings Inc (OTCMKTS:BFCH) Stock In Focus After Recent News

One of the stocks that you could look into this morning is that of BitFrontier Capital Holdings Inc (OTCMKTS:BFCH) after the company made a significant new announcement yesterday. The company announced that it had started testing and deploying the first crypto miners at its facility that is situated in North Carolina.

Trading Data

On Wednesday, BFCH stock increased 1.90% to $0.0107 with 255K shares, compared to its average volume 695.23K shares. The stock moved within a range of $0.0086 – 0.0109 after opening trade at $0.0100.

BitFrontier Capital Holdings, Inc. Announces Bringing Initial Crypto Miners Online and Purchase of Additional Miners

It was also noted that by the time the announcement had been made the initial testing and power up had also been concluded. BitFrontier Capital announced that the first of the eight 125 kW ASIC mining panels that were going to be deployed at the facility had also arrived at the above mentioned facility. The panel is then going to be prepared and installed so as to bring in more miners in the immediate future.

The company further noted that internet had also been installed at the facility and a new dedicated line had also been ordered. However, once the actual mining activities commence, the immediate concern for the company is going to be the addition of more miners to the facility. BitFrontier noted that it wanted to ensure that there were no supply chain issues in the future and hence, orders for more miners have already been placed.

Key Quote

Mr. Wilkinson states, “I’m very pleased that we could provide BitFrontier Capital Holding, Inc. with a new location to Mine crypto almost immediately, what better place to build our flagship facility than in our own backyard.”

Technical Data  

BFCH stock is trading above the 50-Day and 200-Day Moving averages of $0.0089 and $0.0101 respectively. However, the stock is trading below the 200-Day moving average of $0.0108.