The mining company abandoned the production of gold and went to mining bitcoins

The mining company abandoned the production of gold and went to mining bitcoins

The incredible increase in the price of Bitcoin and the blockchain popularity in the business world, led to the fact that investors are betting on everything related to cryptocurrency.

The attractiveness of cryptocurrency investment how strong is that even an ordinary mining company carried out a rebranding and heading for Bitcoin to become part of this industry.

Natural Resource Holdings — a little-known company, which invests in gold, silver, zinc and lead deposits. A month and a half ago, the company announced that it is changing direction, focusing on the blockchain and cryptocurrency, and since then its shares on the stock exchange of tel Aviv jumped 1300%.

According to the Israeli financial media is not just a rumor, and attempts to draw attention to himself. The company actually has plans to refocus on mining. Natural Resource spoke about his first step towards entering the market of cryptocurrencies. They will be the acquisition of shares of a canadian mining farm.

The company announced that negotiations with BACKBONE Hosting Solutions, operating under the commercial brand Bitfarms, the acquisition of 75% of its shares in exchange for 75% stake in Natural Resource. After this news, the influx of investors has increased dramatically, which made a relatively small company on the tenth trading volume on the TASE.

It is reported that canadian company, BACKBONE Hosting Solutions has 4 server farms in the province of Quebec and provides services to mining bitcoin, ethereum, bitcoin and litecoin cash. Announcing the opening of two more farms at the beginning of next year. The company’s profit is about $8.3 million per month with operating expenses only 12%.

According to information on the official website of BACKBONE, the company started its operations in 2016, focusing on affordable solutions for hosting mining equipment for Amateurs and professionals. The company positions itself as “clean” as electricity gets from located close to hydroelectric station, and the climatic conditions of the tundra solve the cooling problem of the farm for 10 months.

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