Nasdaq-listed Chinese blockchain firm PowerBridge Technologies stock was up over 65 percent on its crypto currency mining investment Plans.
Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) went as high as $2.27 after it revealed crypto business expansion plans. Later it settled down at $2.1.
Powerbridge Technologies offers SaaS solutions (Powerbridge SaaS) and Blockchain applications (Powerbridge Blockchain). Its blockchain applications consists of BTC and ETC cryptocurrency mining, IPFS distributed network services, and industry specific blockchain applications.
Its SaaS solution integrates AI, big data, and IoT technologies. It offers SaaS platforms for global trade and cross-border e-commerce, supply chain, data intelligence and IoT applications.
Powerbridge is planning to invest and engage in Bitcoin and Ethereum crypto mining globally to accelerate company’s growth.
The overall cryptocurrency market is booming again after stabilizing. Additionally, the largest cryptocurrency by market cap, Bitcoin, has had a rollercoaster year. Bitcoin future prospects are again looking strong which will also drive other cryptos.
2021 is a really big year for cryptocurrency. Many big organizations announced parking their extra capital in Bitcoin. Many big firms announced to accept payment in Bitcoin. El Salvador accepted Bitcoin as a legal tender and many countries changed their policies to accommodate cryptos. The overall sentiment is quite positive and this will drive the prices up. ultimately, This makes Bitcoin mining more profitable.
With its team of crypto veterans and technical expertise in crypto business, Powerbridge is confidant in accelerating future growth.
“Our initiative to engage in crypto mining is an important part of our overall blockchain strategy. We strive to continually build a clean energy based BTC and ETH mining network globally,” stated President Stewart Lor. “We believe our crypto mining business will generate valuable digital assets that help accelerate the Company’s growth.”
