STUDIO CITY, Calif., Sept. 10, 2018 (GLOBE NEWSWIRE) — via OTC PR WIRE–Web Global Holdings, Inc. (OTC: WEBB) a diversified cryptocurrency holding company specializing in media and data mining operations announced today that it has entered a partnership with cryptocurrency mining operator, Bitex, LLC, one of the most successful cryptocurrency mining operations in the country.
Under the agreement, Bitex will establish the company’s new cryptocurrency mining operation within the next 30 days. The Bitex platform, provides a low-risk and affordable way for interested parties to enter the cryptocurrency market. Through its unique approach to crypto mining, Bitex offers customers a return on investment well above other mining companies in the space. Bitex Chief Executive Officer James Wolfgramm will also join the company as a content advisor and networking resource.
As part of the partnership agreement, Bitex will manage the mining operation for the company and provide the Web Global Holdings team with first-hand knowledge and hands-on experience in cryptocurrency and blockchain data mining. Additionally, Bitex will provide a vast network of connections in the cryptocurrency and fintech industry that the company anticipates will help to increase exposure for Web Global Holdings and its CryptoCake news channel, as well as support the growth of its advertising revenues over the intermediate and long-term. BitGen Mining will be the operating entity for Web Global Holdings for the agreement with Bitex. BitGen Mining is wholly owned subsidiary of Web Global Holdings.
"The synergies are off the charts for both parties involved," said Steve Slome, CEO of Web Global Holdings, Inc. "Initially, a data mining operation seemed like a distraction from our focus on broadcast programming and production, but after just a few hours of looking a little deeper, we found that this partnership aligns very well with our long-term goals of creating a robust holding company within the burgeoning cryptocurrency marketplace. We are excited about the revenue generation opportunities this partnership will create and believe that this is a step in the right direction to becoming an established cryptocurrency conglomerate."
"I am very excited about this partnership with Web Global Holdings, as well as the opportunity it creates for Bitex to join the publicly traded space," said James Wolfgramm, CEO, Bitex, LLC. "We are excited to be working with their team as they continue to build out their crypto news channel. By some estimates, the cryptocurrency industry is poised to reach a trillion dollar market cap by 2020 and the timing of this channel could not be better."
Wolfgramm continued: "It’s a testament to Steve, Lee and their team that they’ve committed to a mining operation of their own which, to me shows their integrity and commitment to staying on the forefront of the industry and actually ‘engaging’ where they can. I would wager that this attitude and approach will be reflected in their programming and will translate onto the screen and filter down to its viewers."
Web Global Holdings is currently in production developing quality programming content for its CryptoCake streaming news channel. CryptoCake will be the first 24-hour OTT news channel solely dedicated to reporting news and informative content for the cryptocurrency, blockchain, and fintech industry.
ABOUT WEB GLOBAL HOLDINGS, INC.
Web Global Holdings, Inc. is a California-Headquartered, publicly traded company (OTC: WEBB) incorporated in the state of Colorado. We are a diversified holdings company that creates growth through asset acquisition and development to produce long-term cash flow and favorable returns for stakeholders. Web Global Holdings has a diverse array of operating subsidiaries specializing in both traditional television production, internet, streaming media along with crypto, blockchain and the FinTech space. Webb is currently building out OTT streaming channels, reality television productions, online videos, and scripted television around the rapidly expanding crypto and blockchain universe. Web Global Holdings’ largest operating subsidies are CryptoCake, BitGen Mining, and Allocation Media Entertainment.
To learn more, please visit the company website at http://webglobalholdings.com/
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Public Relations Contact:
Tory Patterson, CMW Media