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Gold Mining Company’s Shares Jump 1,300% After Switch to Bitcoin

Rake through

With the exponential growth in bitcoin’s price this year and ‘blockchain technology’ appropriate the hottest buzzword in the business world it is not surprising that investors are betting on the whole kit crypto-related. The allure of capitalizing on this attraction is so strong, now even uniform mining operators are jumping in – and even succeeding in rebranding themselves as bitcoin proprietorships.

Also read: Reports of Israeli ICO Ban Are Fake News, Entrepreneurs Look to Bring into being ‘Crypto Nation’

Gold Mining Company's Shares Jump 1,300% After Switch to Bitcoin

Gold Mining Company's Shares Jump 1,300% After Switch to Bitcoin

Natural Resource Holdings is a little-known company whose investments so far consist mostly of property and mineral assets of gold, silver, zinc, and lead deposits.

The proprietorship’s shares, which are publicly traded on the Tel Aviv Stock Exchange, be struck by jumped about 1,300% in price since the company announced it is refocusing on blockchain and cryptocurrencies unbiased a month and a half ago.

Now it appears that the company actually has a plan how to heterogeneity into bitcoin mining and it is not just all hype. According to reports today in the Israeli pecuniary media, Natural Resource has revealed its first step towards presenting the market: acquiring a Canadian bitcoin mining farm.

Mining Is Bourgeoning

The company has announced that it is in negotiations with BACKBONE Hosting Discoveries, operating under the commercial brand Bitfarms, to buy 75% of its shares in switch for 75% its own stocks. In response to the report, investors have poured in, moving the relatively small company the tenth most traded on the TASE by aggregate.

Gold Mining Company's Shares Jump 1,300% After Switch to Bitcoin

Gold Mining Company's Shares Jump 1,300% After Switch to Bitcoin

The Canadian company is said to have 4 server farms in the province of Quebec, take precaution services for mining bitcoin, ethereum, bitcoin cash and litecoin. It is also mean to have two more server farms under construction that choose come online early next year. The company supposedly brings in across $8.3 million a month, at an operational cost of just 12%.

According to its own website, Buttress started operating in 2016 with a primary focus to offer expenditure effective mining hardware hosting solutions for cryptocurrency hobbyists and whizes. Boasting an ‘eco-friendly’ operation, the company says its power is generated from an hydro-electrical herb located close to the facility and that it benefits from being in a Tundra Ambience where cooling is not an issue 10 months a year.

Should investors buy quotas in a bitcoin mining company or simply mine by themselves? Tell us what you expect in the comments section below.


Images courtesy of Shutterstock, Tel Aviv Pile up Exchange.


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