shares surged in pre-market trading on the back of today’s announcement, Coindesk says.
Powerbridge Technologies, a Nasdaq-listed technology company, plans to expand into Bitcoin and Ether
The Zhuhai, China-based tech company offers software-as-a-service products and blockchain applications. It now intends to expand into BTC and ETH
mining, with plans to build a global network based on clean energy, the company announced in press release today.
The company says it has assembled a team of industry veterans in cryptocurrencies and technology to support the development and growth of its digital asset business.
Stewart Lor, president and chief financial offering officer, commented, “We are optimistic about the positive outlook for the cryptocurrency market. Our initiative to participate in cryptocurrency mining is an important part of our overall Blockchain
strategy. We strive to continuously build a clean energy based BTC and ETH mining network globally. We believe our cryptocurrency mining business will generate valuable digital assets that will help accelerate the company’s growth.”
As reported by Coindesk, Powerbridge
shares were up roughly 40% in pre-market trading following today’s announcement. We’ll have to wait and see what happens when the stock opens.
Prior to today’s announcement, the company was only primarily engaged in providing SaaS solutions (Powerbridge SaaS) and Blockchain applications (Powerbridge Blockchain). Powerbridge SaaS integrates artificial intelligence, big data and IoT technologies to provide SaaS platforms for global commerce and cross-border e-commerce, supply chain, data intelligence and IoT applications. Powerbridge Blockchain will now integrate mining of BTC and ETH cryptocurrencies, dist
IPFS distribution and industry-specific Blockchain industry-specific applications.
More and more companies from other industries are getting into crypto mining. This week we told about oil company Black Rock planning to install 1 million mining rigs.
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