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Southwest Airlines, the carrier that has for years used its free peanut snacks as a marketing gimmick, will stop serving nuts on flights starting Aug. 1.
The Dallas-based low-cost carrier cited concerns over passengers with peanut allergies as a key reason why its flight attendants will switch…
With the exponential growth in bitcoin’s price this year and ‘blockchain technology’ becoming the hottest buzzword in 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 jumping in – and even succeeding in rebranding themselves as 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 jumped about 1,300% in price since the company announced it is refocusing on blockchain and cryptocurrencies just a month and a half ago.
Now it appears that the company actually has a plan how to diversity into bitcoin mining and it is not just all hype. According to reports today in the Israeli financial media, Natural Resource has revealed its first step towards entering the market: acquiring a Canadian bitcoin mining farm.
Mining Is Booming
The company has announced that it is in negotiations with BACKBONE Hosting Solutions, operating under the commercial brand Bitfarms, to buy 75% of its shares in exchange for 75% its own stocks. In response to the report, investors have poured in, making the relatively small company the tenth most traded on the TASE by volume.
The Canadian company is said to have 4 server farms in the province of Quebec, providing services for mining bitcoin, ethereum, bitcoin cash 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 in over $ 8.3 million a month, at an operational cost of just 12%.
According to its own website, BACKBONE started operating in 2016 with a primary focus to offer 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 in a Tundra Climate where cooling is not an issue 10 months a year.
Should investors buy shares in a bitcoin mining company or simply mine by themselves? Tell us what you think in the comments section below.
Images courtesy of Shutterstock, Tel Aviv Stock Exchange.
Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.
The post Gold Mining Company’s Shares Jump 1,300% After Switch to Bitcoin appeared first on Bitcoin News.
Volvo will become the first major auto maker to abandon the conventional car engine—technology that has powered the industry for more than a century. All new Volvo models from 2019 would be either fully electric or a hybrid.
WSJ.com: US Business
A New Hampshire man who was injured in a house explosion is thanking Siri for saving his life. Christopher Beaucher says he was checking on his mother’s vacant cottage in Wilmot on May 1 when he saw something suspicious and went inside, per the AP . He tells WMUR-TV when he…
Scientists in Germany flipped the switch Thursday on what’s being described as “the world’s largest artificial sun” and which they hope will help shed light on new ways of making climate-friendly hydrogen fuel. The giant honeycomb-like setup of 149 spotlights—officially known as “Synlight”—in Juelich, west of Cologne, uses…
Railroad veteran Hunter Harrison tried twice to take over rival CSX Corp. and failed. But investors cheered Thursday the idea of letting him run CSX himself.
WSJ.com: US Business
Nintendo said it would introduce its next-generation game console Switch world-wide on March 3 at $ 299.99.
WSJ.com: What’s News Asia
India’s PM, Narendra Modi, surprised and even shocked many when he announced that Rs 500 and 1,000 notes would no longer be legal currency. This is some 86% of the entire cash money supply of the country. There would be a pause and obviously no little chaos as replacement notes […]
Forbes Real Time
On the first day of Obamacare open enrollment, a consumer group sued Anthem Blue Cross for attempting to automatically renew policies that no longer cover out-of-network costs for hundreds of thousands of Californians.
A lawyer for Consumer Watchdog said Tuesday that Anthem was “railroading existing…