NEWPORT BEACH, Calif., Nov. 2, 2022 -- Bitech Technologies Corporation (OTCQB: BTTC) (the "Company"), a green energy technology provider, today announces it has completed the FPGA (Field Programable Gate Array) design for its Intellisys-8 chip and is now proceeding with field testing. In parallel, the Company has initiated ASIC production initiatives for its Intellisys-8, a 5 nanometer ASIC chip for bitcoin mining and data centers, through partnerships in Vietnam.

The Bitech Intellisys-8 development achievements include the ASIC chip code and FPGA components that will be used to complete the next phase of ASIC production after the completion of testing and tape-out. With this ASIC, the Company's goal is to develop an energy efficient immersion-cooled bitcoin mining system that utilizes less than 50% of energy consumed by conventional air-cooled systems. These bitcoin mining systems currently make up over 90% of the global bitcoin mining fleet.

"This latest achievement of a 5 nanometer ASIC chip prototype from our Intellisys-8 project is a significant technological milestone that enhances our intellectual property portfolio," stated Roy Bao, Chief Technology Officer of the Company.

"We plan to hire qualified and talented ASIC engineers in Vietnam, one of the fastest growing countries in the burgeoning Southeast Asian region where the cost of intellectual labor will be our greatest advantage for the development of an emersion-cooled mining solution for larger mining operations," commented Dr. Benjamin Tran, CEO of the Company.

As a technology company, the Company constantly strives to expand its renewable energy technology portfolio via in-house R&D, licensing and acquisitions of innovative technologies around battery storage, flywheel energy, heat-to-energy, hydrogen power, and other renewable energy technologies to resolve the high cost of power in cryptocurrency mining, with a plan to expand to other industries outside of cryptocurrency mining in the future.

About Bitech Technologies Corporation

Bitech Technologies Corporation (OTCQB: BTTC), is an independent power provider with a core business in developing and operating Battery Energy Storage Systems (BESS) to enhance grid stability and produce consistent revenues. We also offer technological innovations with smart energy solutions including microgrids, advanced Energy Management System (EMS) for homes, buildings, campuses, cities, and renewable infrastructure. For more information, please visit www.bitech.tech.

Cautionary Note Regarding Forward-Looking Statements

This press release may include, and oral statements made from time to time by representatives of the Company may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filing with the Securities and Exchange Commission (“SEC”). All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s filings with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:

Bitech Technologies Corporation
Tel: 1.855.777.0888
Email: info@bitech.tech

External Investor Relations:

Chris Tyson, Executive Vice President & Partner
MZ Group - MZ North America
949-491-8235
BTTC@mzgroup.us
www.mzgroup.us