ACCESS Newswire
25 Nov 2021, 07:25 GMT+10
RENO, NV / ACCESSWIRE / November 24, 2021 / Bullet Blockchain, Inc. ('Bullet' or the 'Company'), (OTC PINK:BMIND), which completed a merger with Britannia Mining, Inc. ('Britannia')-to pivot Britannia into the crypto mining industry, with an initial focus on Bitcoin mining-provided an update on the anticipated stock Round-Up.
As part of the 1-for-10 reverse stock split ('RSS') that the Company recently completed, management implemented a round-up strategy to help preserve shareholder value after the RSS. In this case, shareholders who held less than 4,440 shares of the Company's common stock prior to the RSS, will be rounded up to 444 shares of common stock, post RSS (the 'Round-Up').
Round-Ups can take as long as seven business days to complete. During this time, there is a coordinated process that the Company undergoes with its Transfer Agent and the Depository Trust and Clearing Corporation ('DTCC'). The Company's RSS however, occurred during a holiday week, which tends to be a shorter workweek. Management anticipates that the Round-Up should be completed shortly after the Thanksgiving holiday. At that time, any shareholder that was holding between 1 and 4,440 shares of the Company's common stock prior to the RSS, will see an adjustment in their holdings, reflecting 444 shares of Bullet's common stock.
Lastly, management also reminds its shareholders that the Company's common stock will trade under the symbol BMIND for 20 business days from the completion date of the RSS. Thereafter, the trading symbol will be updated to reflect BULT.
For more information, please visit www.BulletBlockchain.com.
About Bullet Blockchain, Inc. (f/k/a Britannia Mining)
Bullet Blockchain, Inc. is a blockchain technology company 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 that 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 margins. Bullet is focused on efficiency, stability, transparency, and scalability, and has set its goals 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.
Contact: [email protected]
SOURCE: Bullet Blockchain, Inc.
Get a daily dose of Raleigh Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Raleigh Times.
More InformationNEW YORK CITY, New York: Bitcoin surged to a new all-time high this week, buoyed by growing institutional interest and a wave of pro-crypto...
SHENZHEN, China: As global chip competition intensifies, Huawei Technologies is exploring new markets in the Middle East and Southeast...
LONDON/NEW YORK CITY: American grocery bills may be headed higher as coffee and orange juice prices face upward pressure from new tariffs...
BATTLE CREEK, Michigan: In a major consolidation of iconic food brands, WK Kellogg has agreed to be acquired by the owner of Ferrero...
WASHINGTON, D.C.: Filmmaker Peter Jackson's lifelong fascination with the extinct giant New Zealand flightless bird called the moa...
NEW DELHI, India: India has submitted a revised proposal to the World Trade Organization (WTO) in Geneva to implement retaliatory tariffs...
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
(Photo credit: Darren Yamashita-Imagn Images) The American League and National League announced their lineups for Tuesday's All-Star...
(Photo credit: Rick Osentoski-Imagn Images) Pinch-hitter Jorge Polanco and Cole Young hit back-to-back homers in the top of the ninth,...
(Photo credit: Eric Canha-Imagn Images) In his 51st career start, Garrett Crochet accomplished two feats in one dominant outing:...
(Photo credit: Brad Mills-Imagn Images) The Detroit Tigers will head into the All-Star break with the best record in the majors,...
(Photo credit: Rick Osentoski-Imagn Images) Randy Arozarena had three hits, including a two-run homer, and scored four runs as the...