OLB Group Shares Up 20% as Unit Begins Bitcoin Mining Operations
By Chris Wack
The OLB Group Inc. shares rose 20% to $6.17 after the company
said its DMint Inc. subsidiary started bitcoin mining with its
first hundred Antminer S19j Pro cryptocurrency mining
The company said DMint sees having 1000 computers in operation
at its newly-installed Bradford, Penn., data center by the end of
2021, and projects to reach 24,000 Bitcoin mining computers in the
next 24 months.
Once all 1,000 miners are fully operational, OLB Group said it
will have the capacity for an additional $1.1 million in revenue
monthly, assuming a base market price of $45,000 per bitcoin.
OLB expects to use DMint mining operations to power expanded
crypto commerce services including financing, lending, and
fundraising for small and medium-sized businesses.
Write to Chris Wack at email@example.com
(END) Dow Jones Newswires
October 19, 2021 09:55 ET (13:55 GMT)
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