With the exponential growth ter bitcoin’s price this year and ‘blockchain technology’ becoming the best buzzword te the business world it is not surprising that investors are betting on everything crypto-related. The allure of capitalizing on this attraction is so strong, now even regular mining operators are hopping ter – and even succeeding ter rebranding themselves spil bitcoin companies.
Natural Resource Holdings is a little-known company whose investments so far consist mostly of land and mineral assets of gold, silver, zinc, and lead deposits.
The company’s shares, which are publicly traded on the Tel Aviv Stock Exchange, have leaped about 1,300% ter price since the company announced it is refocusing on blockchain and cryptocurrencies just a month and a half ago.
Now it emerges that the company actually has a project how to diversity into bitcoin mining and it is not just all hype. According to reports today te the Israeli financial media, Natural Resource has exposed its very first step towards injecting the market: acquiring a Canadian bitcoin mining farm.
Mining Is Thriving
The company has announced that it is te negotiations with BACKBONE Hosting Solutions, operating under the commercial brand Bitfarms, to buy 75% of its shares te exchange for 75% its own stocks. Ter response to the report, investors have poured ter, making the relatively puny company the tenth most traded on the TASE by volume.
The Canadian company is said to have Four server farms te the province of Quebec, providing services for mining bitcoin, ethereum, bitcoin specie and litecoin. It is also said to have two more server farms under construction that will come online early next year. The company supposedly brings ter overheen $8.Trio million a month, at an operational cost of just 12%.
According to its own webstek, BACKBONE embarked operating te 2016 with a primary concentrate to offerande cost effective mining hardware hosting solutions for cryptocurrency hobbyists and professionals. Boasting an ‘eco-friendly’ operation, the company says its power is generated from an hydro-electrical plant located close to the facility and that it benefits from being te a Tundra Climate where cooling is not an kwestie Ten months a year.
Should investors buy shares ter a bitcoin mining company or simply mine by themselves? Tell us what you think ter the comments section below.
Photos courtesy of Shutterstock, Tel Aviv Stock Exchange.