Bitech Technologies Provides Quarterly Shareholder Update with Growth Plan
Costa Mesa, CA, May 16, 2022 (GLOBE NEWSWIRE) -- Bitech Technologies Corporation (formerly, Spine Injury Solutions, Inc) [OTCQB:
SPIN] (the “Company”), a global technology solution provider dedicated to providing a suite of green energy solutions with a focus in cryptocurrency mining and data centers today announces a
shareholder update after filing our Quarterly Report (Form 10-Q) with the U.S. Securities and Exchange Commission.
On May 6, the Company filed its quarterly report for the period ended March 31, 2022 where it showed a significant improvement in its current assets, shareholder’s equity and cash flow. This report can be seen at: https://www.sec.gov/ix?doc=/Archives/edgar/data/1066764/00014931522201 ...
According to the University of Cambridge Center for Alternative Finance, the United States has become the second largest bitcoin mining hub where its bitcoin production has grown from just 4% two years ago to a surprising 17% of all new bitcoins after China having banned bitcoin production due to its energy crisis caused by massive bitcoin production. As bitcoin production continues with more scarcity over the years until 2040, our core business strategy is to provide a super cost-saving solution to all bitcoin miners in the U.S. and abroad via the commercialization of our industry disruptive Tesdison technology which provides off-grid sustainable energy production, implementable at any scale.
The Company’s Board of Directors has approved a product commercialization plan with specific milestones to commercialize its Tesdison technology with a primary focus in cryptocurrency mining and data centers. The Tesdison commercialization plan includes engineering sample development for large-scale crypto miners starting with our Alpha production of 100KW Tesdison systems to be produced by a U.S.-based electrical system engineering manufacturer, followed by the deployment of these Alpha units at the test sites of our initial prospective customers. We plan to follow our Alpha unit production with the Beta unit production after the incorporation of additional learning and system update for final Beta testing at our customer sites. The Company plans to engage with a selected global manufacturer which specializes in power generation to ensure highest quality mass production of our future Tesdison systems.