Powerbridge Technologies Co. Ltd. (PBTS) stock prices were up by 12.88% as of the market closing on October 25th, 2021. This brought the price per share up to USD$1.49. Subsequent premarket fluctuations saw the stock rise by 13.42%, bringing it up to USD$1.69.
Launch of PowerCrypto Holdings
October 8th, 2021 saw PBTS stock announce the launch of cryptocurrency mining by its subsidiary, Powercrypto Holdings. The operations will be based out of Hong Kong and will focus specifically on Bitcoin and Ethereum. The company’s mining operations will make use of environmentally friendly, green, and sustainable energy. The company is allocating resources towards the completion of the deployment of 2,600 high-performance mining rigs in Hong Kong. These rigs will comprise 600 high-performance BTC mining machines, with a hashrate of roughly 60 PH/s. The company will also deploy 2,000 high-performance ETH mining machines, which will boast a hashrate of roughly 1,000 GH/s.
Scope of PowerCrypto
Powercrypto Holdings is a critical strategic move by PBTS stock in a bid to consolidate and expand the company’s global footprint in the crypto-mining sector. The company is keen to facilitate the increase of its overall hashrate level in BTC and ETH mining. This will be enabled by the setting up of mining fleets in both North America and Asia. The market position afforded to the company from its launch of the crypto mining business is expected to substantially boost its revenue generation.
About PBTS Stock
PBTS stock is a growth-driven technology company that primarily engages in service-as-a-solution offerings and Blockchain applications. The company integrates artificial intelligence, big data, and the Internet of Things to offer SaaS platforms that enable cross-border e-commerce, supply chain, data intelligence, and IoT applications and devices. The company’s Blockchain consists of BTC and ETC mining and digital assets, IPFS distributed network services, and industry-specific Blockchain applications.in light of the recent surges in Bitcoin prices, PBTS stock is adequately poised to capitalize on the substantially improved market landscape for cryptocurrencies. This is a promising development after a year marred by volatility for the cryptocurrency sphere.
Future Outlook for PBTS Stock
The company is keen to maintain the momentum generated by the consolidation and expansion of its market footprint within the cryptocurrency marketspace. PBTS stock is taking steps to ensure it manages to continue its trajectory of success in a bid to usher in unprecedented growth. Current and potential investors are hopeful that management will be able to effectively leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value over the long term.