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.