SAN JUAN, Puerto Rico, March 15, 2021 (GLOBE NEWSWIRE) – BOTS, Inc. (OTC: BTZI), a vertical integrator and emerging innovator of products, technologies and services for the rapidly growing automation and manufacturing industry for digital robotics, announced Known today, the nationwide availability of repairs to Bitcoin and Ethereum mining rigs is being made through our newly authorized repair facility.
Bitcoinmagazine.com recently reported, “The shortage of mining equipment, not just in North America but around the world, including China, is a major problem in the industry right now. As the price of Bitcoin continues to hit an all-time high, ASIC foundries and device makers are under pressure to meet demand from both newly interested customers and older mining companies who need to upgrade to stay competitive. The estimated waiting times for new mining equipment are at least six months. Leading manufacturers like Bitmain were sold out by September 2021. There has also been a significant price increase in the secondary market for used ASICs. ”
The following companies are the major players in the global Cryptocurrency Mining Hardware Market: Advanced Micro Devices Inc., ASICminer Co., Baikal Miner, Bitfury Group Ltd., BitMain Technologies Holding Co., Canaan Inc., Cynosure Technologies Co. Ltd ., Halong Mining, INNOSILICON Technology Ltd. and Shenzhen MicroBT Electronics Technology Co. Ltd.
The repair center affiliated with BOTS only offers repairs made by Bitmain, but will gradually add repair options from other manufacturers as spare parts become available.
According to a study by Fidelity Digital Assets and Greenwich Associates, nearly 80 percent of institutional investors find digital assets attractive, and more than six in ten institutions believe digital assets have a place in their investment portfolios.
Internal research by BOTS shows that the demand for obsolete electronic devices for cryptocurrency mining in emerging markets is also a major driver for the market.
There are millions of Bitcoin and Ethereum mining equipment in use in the US. Bitmain customers report high failure rates for leading Bitcoin mining hardware with a failure rate of 20 to 30%. The repair capacity for bitcoin miners in the US has lagged significantly.
“As North America continues to deploy crypto-mining equipment from Asian manufacturers to respond to rising institutional demand, bitcoin mining farms need help quickly diagnosing mechanical failures and other problems, and repairing equipment with genuine parts in order to maintain competition. By having a local repair center with remote diagnostics and overnight repairs to miners, North American mining operations can remain competitive and profitable, “commented Paul Rosenberg, CEO of Bots Inc.
About BOTS, Inc.
Publicly traded on the OTC markets under the symbol (BTZI), BOTS, Inc., headquartered in San Juan, Puerto Rico, is a diversified company that develops and services blockchain, cybersecurity and robotics solutions for its customers. The company is committed to driving the innovations required to shape the future of managing digital robotic automation through digital technology and decentralized blockchain solutions. The management is dedicated to the strong growth of Distributed Asset Technology and Robotic Process Automation (RPA).
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