Long Blockchain Corp., which is just a couple of months ago was called Long Island Iced Tea is planning to engage in mining.
According to the statement, which the company filed with the securities and exchange Commission on January 5, Long Blockchain Corp, a public company, which was renamed from Long Island Iced Tea is in the process of purchasing 1000 units of AntMiner S9 produced by a Chinese company Bitmain.
Just a few weeks ago the company announced that it plans to switch to the technology of the blockchain, after which its shares on the NASDAQ has increased nearly 200 percent. And this is not the first case when public companies are renamed or even change the scope of activities.
In a press release reported Long Blockchain that mining capacity will be located in one of the Scandinavian countries. However, after a careful analysis of the statements filed by the company can come to the conclusion that this country will be Iceland.
The amount of the transaction for the purchase AntMiner S9 is $ 4.2 million USA:2.9 million in cash and 260,000 shares Long into the Future. From the application it is unclear whether Long Blockchain buys equipment directly from Bitmain or from a third party.
According to the document, the deal should be closed until January 31, but only if Long Blockchain Corp. will be able to obtain the necessary funding before this time.
Additional financing the company intends to through the issuance of additional 1.6 million shares.
Philip Thomas, CEO of Long Blockchain Corp., commented on this:
We view this transaction as an important step in the direction of the blockchain technology.