Leading crypto mining hosting centers and mining hardware providing company BitFrontier Capital Holdings Inc (OTCMKTS:BFCH) was in focus on Tuesday after it made an announcement with regards to a new joint venture agreement.
Trading Data
On Tuesday, BFCH stock moved up 8.18% to $0.0119 with more than 1.34 million shares, compared to volume of 868.47K shares. The stock moved within a range of $0.0100 – 0.0120 after opening trade at $0.0115.
BitFrontier Signs Multi-Year Joint Venture Agreement With C&G Management to Provide Hosting Facilities in the Great State of Louisiana
The joint venture agreement in question is a multi-year agreement and is related to the development of a huge 1.6 GW hosting facility with C&G Management, the energy partner, in the state of Louisiana. In this context, it should be noted that C&G Management is an on-prem power generation leader and deploys turbines as well as generates that run on natural gas so as to provide dependable power generation everywhere.
In this regard, it should be noted that most crypto mining operations are dependent on the capacities of their local power grids. However, the fact that C&G Management can manage to generate its own power provides BitFrontier Capital Holdings with a sort of flexibility that could prove to be a long term boon.
More importantly, the fact that the joint venture is going to generate its own electricity it is also going to be exempt from the energy tax which is being mooted by the United States government on crypto mining operations.
