City TV network to start Bitcoin mining in November
The listed Urban Television Network (URBT) announced on August 9 that it expand their operations to include Bitcoin mining from November.
The company’s mining will specifically target Bitcoin mining and look to expand its operations quickly thanks to its large audience and investor base. According to their press release, Urban Television Network has acquired around 200 Bitcoin miners in preparation for their mining venture. The company is going would have mine on âclean and renewable energy, thus ensuring efficient energy consumption at no cost to the environmentâ.
In a statement, URBT CEO Joseph Collins said: âWe are a fast growing company and in line with our commitment to excellence, we have decided to throw our hats in the ring and begin operations. ‘crypto mining’, in a move that is sure to increase revenue and spur growth.
He continued, âToday, the digital money market is one of the largest financial markets in the world. Early crypto users reaped a great advantage and we saw a great opportunity to put our resources into digital currency mining as we know the potential it holds for our business and for investors. Of course, we know that crypto mining activities require very sophisticated and massive calculations and a stable and secure power supply to run and cool computers. lead this project.
Following this announcement last week, URBT stocks rallied with the price of Bitcoin, marking a shift in investor confidence in the company as they incorporate drastic strategic changes to continue mining of Bitcoin.
Joseph collins commented On the rally in the company’s stock price, âOur investors may be excited about the direction our business is taking as we enter the crypto mining space. We are an organization for the future, and we see that a financial revolution is already underway that transforms all sectors of the economy is coming, and we want to be a part of it. Right now, the current value of the cryptocurrency market is higher than big companies like Facebook, Amazon, and Tesla! ”
He concluded: âI have no doubts that the performance of our stocks right now is proof that we are making the right decisions and investors who constantly watch the market changes can see it. In addition, we are very proud to have a competent and professional team to lead our crypto mining operations and lead the teams that will be responsible for driving the smooth running of this business. “