BETS Seeks For New Investment And Expansion Opportunities; Announces Execution Of A Consulting Agreement With Cruxforce, LLC, Aiming To Find A Mining Farm With Sufficient Power Supply For The Third Site
Portfolio Pulse from Benzinga Newsdesk
Bit Brother Limited (BETS) has entered into a consulting agreement with Cruxforce, LLC to locate a mining farm with sufficient power supply for their third site. This move comes as Bitcoin prices surged past $45,000 in December 2023, sparking investor interest. The company aims to enhance performance and expand market share in the cryptocurrency industry with a new site that can support up to 40MW power supply, which is critical for the operation of mining equipment.
January 02, 2024 | 2:27 pm
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Bit Brother Limited's agreement with Cruxforce to find a new mining farm is expected to enhance the company's performance and market share in the crypto industry.
The agreement with Cruxforce is directly related to BETS's core business of cryptocurrency mining. The recent surge in Bitcoin prices and the potential for increased mining capacity with a new site are likely to be viewed positively by investors, potentially leading to a short-term increase in BETS's stock price. However, the actual impact will depend on the successful identification and launch of the new mining site.
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