Nate’s Food Co. Provides Corporate Update
Nate’s Food Co. (OTC: NHMD) has announced plans to acquire additional bitcoin mining equipment within the next 30 days after pausing purchases to assess market conditions.
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Rhea-AI Summary
Nate’s Food Co. (OTC: NHMD) has announced plans to acquire additional bitcoin mining equipment within the next 30 days after pausing purchases to assess market conditions. CEO Nate Steck emphasized the opportunity to build a sustainable model amidst current market conditions. The company is also expanding its Nate’s Homemade brand through a partnership with ABCO Labs, offering food product development services including concept development and nutritional valuations. Although the company aims for growth in these areas, it acknowledges potential risks related to mining operations, including market pricing and equipment availability.
Positive
- Initiation of additional bitcoin mining equipment acquisition.
- Expansion of Nate’s Homemade brand through a partnership with ABCO Labs.
- Diverse consulting services for food product development.
Negative
- Risks and uncertainties associated with bitcoin mining profitability.
- Dependence on market conditions for mining equipment pricing.
Details
News Market Reaction – NHMD
The recorded move for NHMD in the trading session of this news was +50.00%.
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Huntington Beach, California, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Nate’s Food Co. (OTC: NHMD) is pleased to provide a corporate update. The Company will begin acquiring additional bitcoin mining equipment in the next 30 days. “We had previously paused acquiring additional bitcoin mining equipment as we wanted to wait to see where the pricing for mining units would bottom as the market consolidated over the summer. We are pleased to announce we are ready to begin acquiring additional units beginning this month. Our focus is on building a sustainable model while taking advantage of the unprecedented opportunities to acquire bitcoin mining equipment in this current market. We will provide updates as we acquire the new units”, said Nate Steck, CEO of Nate’s Food Co.
Additionally, we will also expand our Nate’s Homemade brand through our relationship with ABCO Labs (www.abcolabs.com). Through this partnership, we will provide product development and consulting services within the food industry.
This change in focus to consulting on food product development allows the company to work on multiple projects at once. The services we provide include:
- Concept development
- Package Design
- Lab and Microbiology Testing
- Sourcing ingredients
- Shelf Testing
- Nutritional valuations
- Pricing models
- Manufacturing capacity through ABCO
About Nate’s Food Co.
The Company operates two divisions: (1) Food development and distribution and (2) bitcoin mining. The Company’s focus is the development of food products for distribution in wholesale membership stores and into retail grocery stores. The Company also operates a bitcoin mining division as a hedge against inflation.
Additional information is available by visiting company's website www.natesfoodco.com or on twitter at https://twitter.com/natesfoodco.
Revenue related calculations. Please note that the Company believes that any revenue related calculations are accurate and based on factual information, there can be no assurance that the Company will be able to achieve all projections due to number of business-related factors, such as power pricing, mining equipment availability, bitcoin mining difficulty, bitcoin market pricing and other unforeseen issues in deploying its mining rigs. You can view update information on Bitcoin Mining by visiting https://alloscomp.com/bitcoin/calculator.
Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.
For more information:
Nate’s Food Co.
Email: nate@nateshomemade.com
Phone: (949) 341-1834
FAQ
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