Gold mining company decides to switch to bitcoin mining

After the announcement its share price rises by 1300%
04 December 2017   2119

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.

Litecoin to Implement Reward Halving Successfully

Block reward was reduced from 25 LTC to 12.5 LTC on block 1,680,000
06 August 2019   107

Today, on August 5, the reward for the Litecoin block for miners was halved.

Halving happened on block 1,680,000, changing the block reward from 25 LTC to 12.5 LTC. The next halving will take place in four years - tentatively on August 2, 2023, as a result of which the block reward will decrease to 6.25 LTC, making digital silver even more scarce.

Litecoin Block Reward Halving Countdown
Litecoin Block Reward Halving Countdown

According to litecoinblockhalf, 75% of the total Litecoin supply has been mined so far. The current inflation rate of the coin is 4.26%, and after four years it should drop to 1.80%.

Many investors were sure that the market had long “digested” the positive expectations in connection with a decrease in cryptocurrency emissions and expected either a sideways price movement or even a decrease in the LTC rate.