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SAN JUAN, Puerto Rico, Nov. 05, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – 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, and warranties announced today announced that our first class of 14 students graduated from the basic Bitmain miners' repairs training course, conducted by the Company's Subsidiary TekX Mining & Gaming PC Solutions LLC. Graduates are now able to provide maintenance services and repair Bitmain mining rigs using original parts in a timely and efficient manner. TekX certified, trained, and experienced electronics engineers will also assist graduates to remotely diagnose miner malfunctions providing professional advice while helping with repair equipment as we supply original parts for the repairs. TekX graduates will be repairing the majority of Bitmain's Antminer brand models, including S17, S17 Pro, S17+, T17, T17e, S19 - 90TH, S19 - 95TH, S19 Pro - 105TH, S19 Pro - 110TH.
BOTS, Inc. announced earlier that the Company would offer its TekX Accelerated Training at its Parkersburg campus. Those 2-week advanced programs will provide students with knowledge of Bitcoin mining repairs technology and state-of-the-industry miner diagnostics, electrical, and mining technologies.
In addition to providing high-tech training, TekX is conducting research on cutting-edge immersion-cooling mining technologies. Immersion-cooling is a revolutionary technology where Bitcoin mining rigs are submerged in a specialized liquid that is circulated, keeping the hash-boards integrated circuits cooler and operating at lower temperatures. Based on industry data immersion-cooling test results, an estimated 25% -30% increase in hash rate is expected from lower temperatures.
TekX is utilizing the most advanced technologies such as ultrasonic cleaners, clean rooms, automated soldering gear, and other state-of-the-art equipment in order to ensure that customers' rigs are operating without interruption and generating the maximum ROI.
Cryptocurrency mining has become very popular in the past years as investors embrace the crypto asset to diversify their wealth in addition to the traditional stock market.
As previously announced, BTZI is the first public company to offer bitcoin miner warranties to operators in North America. The extended miner warranty program will initially be covering Bitmain manufactured miners, but soon, BTZI will add coverage for Canaan Inc miners, MicroBT Whatsminer, and other leading bitcoin miner manufacturers. The Company announced earlier the availability of bitcoin mining repairs through an authorized national bitcoin miners' repair center, which is now fully operational through our new subsidiary.
Around 3,000,000 bitcoin miners are in operation in the U.S. and about 2,000,000 in Canada.
BTZI estimates the extended bitcoin miners' warranty market size could quickly exceed $1.2 billion in the U.S.
BOTS, Inc. has under consideration a $1 million investment from a past supportive investor regarding a private, restrictive placement which will enable greater expansion of its operations upon favorable terms being successfully completed. BTZI is also developing a 10MW self-mining facility in WV.
BOTS, Inc. is the first to build an approach to the bitcoin miners' extended warranties — providing a cost-effective and efficient way for Bitcoin mining farm operators to buy warranty 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 rig, including the availability of remote monitoring services, mining rig hardware coverage, and racking systems.
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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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.