BTZI provides an update on its guarantee program for minors
San Juan, Puerto Rico, October 18, 2021 (GLOBE NEWSWIRE) – via NewMediaWire – BOTS, Inc. (OTC: BTZI), (“BOTS” or “The Company”), a global technology company specializing in blockchain solutions, including including decentralized financial applications, cybersecurity, crypto mining, mining equipment repair and warranties announced today that its subsidiary and an authorized miner repair center, TekX Mining and Gaming PC Solutions LLC, have launched at their new TekX Training Academy based in Parkersburg, West Virginia (TTA). The TekX Training Academy will offer Bitcoin miner operations, maintenance and repair training courses with activities designed for individuals and employees of North American-based bitcoin mining farms.
BOTS, Inc. will release related list of Bitcoin mining employee training programs soon. The first training will take place during the last week of October 2021. However, due to considerable interest, BOTS has reported an oversubscribed course request. As a result, training courses will be provided monthly.
According to a Training Magazine report, U.S. companies spend an average of $ 4.5 billion on training and development programs for their employees.
BTZI is the first public company to offer bitcoin miner guarantees to operators in North America.
BOTS, Inc. has developed a whole new approach to extended warranties for bitcoin miners – providing a cost effective and efficient way for Bitcoin mining farm operators to purchase collateral contracts and file claims against them – which allows Bitcoin miners in North America to take their mining business to the next level. The warranty covers labor on all components of the bitcoin mining platform, including the availability of remote monitoring services, mining platform hardware coverage, and racking systems.
“Same day coverage, buy it now and pay later and other tools are now available on our e-commerce site,” said Dr Oleksandr Gordieiev, CEO. “We introduced extended service contracts to this industry for the first time in North America, and the industry has just realized that. No one has seen this before.
The extended minors warranty program will initially cover miners manufactured by Bitmain, and soon BTZI will add coverage for miners from Canaan Inc, MicroBT Whatsminer, and other major bitcoin miner manufacturers. The company earlier announced the availability of bitcoin mining repairs through a nationwide authorized Bitcoin miner repair center, which is now fully operational thanks to our new subsidiary.
About 3,000,000 bitcoin miners are active in the United States and about 2,000,000 in Canada.
BTZI Estimates Bitcoin Miner Extended Warranty Market Size Could Quickly Surpass $ 1.2 Billion in US
As the sole warranty extension provider for bitcoin miners, BOTS, Inc. is now positioned to capture this unserved market. The Company plans to expand this service quickly in Canada and then around the world.
Research and Markets estimates that the extended warranties segment will reach $ 50.2 billion by 2026.
A recently published article by Coindesk titled Crypto miners ‘literally print money’ said Wall Street Firm DA Davidson, which explains the Wall Street Research and Investment Bank, launched research coverage on bitcoin mining companies Core Scientific, Marathon Digital, Riot Blockchain and Hut 8 Mining with purchase quotes for all of these stocks.
DA Davidson analyst Christopher Brendler sees a “huge opportunity” for domestic miners, following the sustained rally in bitcoin and sweeping crypto bans in China. “Combined with improved access to capital that keeps their lead (and ‘HODL’), we expected these stocks to revalue much higher as earnings estimates crush short-term estimates, even as bitcoin goes down. consolidates, ”Brendler wrote.
“With US miners gaining market share after China’s bans and with bitcoins over $ 55,000, companies are literally ‘printing money.’
“Miners’ actions, which are strongly correlated with the price of bitcoin, have seen a relentless rally this year as the price of the largest cryptocurrency more than doubled. Meanwhile, the Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF, or RIGZ, which has high exposure to miners and was launched in July, gained 47%.
“Bitcoin mining stocks are strongly (~ 70%) correlated to bitcoin prices with good reason since BTC not only directly generates reported income, but all four are also trying to hold as many newly minted bitcoins as possible on their balance sheets. “, the analyst wrote.
“Brendler expects ‘massive’ earnings growth across the mining industry.”
The Company is in the process of updating its documents with the Securities and Exchange Commission and expects to complete this process within 30 days.
About BOTS, Inc.
BOTS, Inc. is a global technology company specializing in Blockchain-based solutions, including decentralized financial applications, cybersecurity solutions, and has a portfolio of digital assets and crypto-related businesses such as BeadSwap, a decentralized crypto exchange, Bitcoin ATMs 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 consulting, optimization and repair and insurance services for crypto-mining equipment.
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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 relate directly to historical or current fact. Actual results may differ materially from those indicated in these forward-looking statements due to various important factors that may be disclosed in documents filed by the Company. In addition to these factors, actual performance, results and future results may differ materially due to more general factors including (but not limited to) general industry and market conditions and growth rates. , economic conditions and changes in government and public policy. The forward-looking statements included in this press release represent the opinions of the Company as of the date of this press release, and those opinions are subject to change. However, although the Company may choose to update these forward-looking statements at some time in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be taken as representing the views of the Company as of a date subsequent to the date of the press release. These forward-looking statements are risks which are detailed on the Company’s website and documents.