Gold mining company decides to switch to bitcoin mining

After the announcement its share price rises by 1300%
04 December 2017   1794

Recent cryptocurrency hype has influenced a lot of companies all over the world. Now even regular mining companies are betting everything on blockchain and, sometimes, even succeeding.

Natural Resources Holding is an Tel Aviv-based mining company with main investments in land and mineral resources, such as gold and zinc. Their shares are publicly traded on Tel Aviv stock exchange and company is quite well-off. Now it seems, that the company has plans to broaden its scope by mining not only gold.

This announcement about supposed focus change galvanized the Israeli investors, making Natural Resource Holding one of the ten most traded by volume on Tel Aviv Stock Exchange. NRH share price has gone up by 1300%.

Right now NRH is negotiating to buy 75% of Canadian BACKBONE Hosting Solutions in exchange for 75% of their own shares. The Canadian company currently has four operational farms in Quebec, with two more to come online in 2018. BACKBONE claims to provide eco-friendly and cost-effective mining solutions for cryptocurrency mining by placing their hardware in northern regions, where cooling isn't a concern for better part of the year, and getting power from the local hydro-electrical power plant.

Bitmain IPO Application Deadline to Expire

According to the latest statement, team doesn't lose spirit and appointed new CEO
26 March 2019   84

The application of the Chinese mining company Bitmain to conduct an initial public offering (IPO) on the Hong Kong Stock Exchange (HKEx) expired yesterday, March 25. This is reported by the Cointelegraph.

The company filed an application six months ago, for which it provided financial statements to the HKEx committee. However, during this period, the hearing on the application did not take place.

To re-register an application to HKEx, the company will need to disclose financial statements for the third quarter of 2018.

Today, 26.03.19, Bitmain published a blog post, in which it reported in new CEO Haichao Wang appointment and share some plans.

Bitmain’s listing application to HKex in September 2018 has reached its 6-month expiration date. We do recognize that despite the huge potential of the cryptocurrency and blockchain industry, it remains a relatively young industry which is proving its value. We hope regulatory authorities, media, and the general public can be more inclusive to this young industry. We will restart the listing application work at an appropriate time in the future.

Bitmain Team

In November 2018, an application for an IPO from a mining company Canaan Creative was canceled.