Bit Brother Limited (NASDAQ: BETS) shares surged in the extended trading Wednesday as the company announced a consulting agreement with Cruxforce, LLC, to locate a power-ready mining farm for its third site.
In response to Bitcoin’s impressive surge, surpassing $45,000 per coin in December 2023, Bit Brother Limited is capitalizing on the momentum by actively pursuing investment expansion. The company has announced a consulting agreement with Cruxforce to locate a mining farm with ample power supply for its third site.
Recognizing the critical role of the mining site in cryptocurrency operations, Bit Brother (NASDAQ: BETS) emphasizes the need for a mining site that should offer optimal heat dissipation conditions, comprehensive facilities, and, most importantly, a stable power supply. Management anticipates that Cruxforce, LLC’s expertise in power sourcing will significantly aid BETS’ investment expansion plans. The agreement tasks Cruxforce with locating mining sites boasting a maximum power supply capacity of 40MW to meet Bit Brother’s increasing demands for mining operations.
The partnership with Cruxforce, LLC, is set to enhance Bit Brother’s performance and drive growth in its cryptocurrency market share. The successful identification and launch of a satisfactory third site would be a significant strategic move for BETS, promising higher investor returns.
Bit Brother stock jumped 3.51% to trade at $0.0118 in the after-hours trading session.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
