Ever since China made the mistake of banning cryptocurrency miners from its soil, mining farm projects are flourishing everywhere else, including the United States and Canada. Even new operators that were not expected to be in this business at all are seizing the opportunity, as is now the case with Urban Television Network Corporation (URBT).
When a TV channel starts mining BTC
While China has made the choice to persecute Bitcoin (BTC) miners, the future of the mining industry of the king of cryptos is becoming increasingly clear in North America.
The latest evidence of this is the publicly traded American television channel company Urban Television Network, which issued its first press release on August 9 to announce that it would soon be entering a completely different business: cryptocurrency mining!
At first glance, according to its leader, the company has already chosen Bitcoin and Ethereum (ETH) for its future mining operations:
“We are a growing company and, in line with our commitment to excellence, we decided to get into cryptocurrency mining, starting with bitcoin and ethers. Today, the digital currency market is one of the largest financial markets in the world (…) we saw a great opportunity to put our resources into digital currency mining because we are fully aware of the potential that it represents (…)”Joseph Collins, CEO of URBT
Mining operations to begin this autonomous
The preparation of URBT’s mining facilities is already well underway, as its mining operations are expected to begin as early as November 1 this year.
In a second press release published this August 16 on the Nasdaq Stock Exchange website, Urban Television Network states that this new operation will be led by Kimberly Douglas, who has long been fighting for financial inclusion through cryptocurrencies.
All of this good news coming from URBT has sparked a lot of interest among stock market investors, as the TV group’s stock has risen significantly since it announced the launch of its BTC and ETH mining farms.
“Our investors can get excited about the direction our company is taking by entering the crypto mining business. (…) we see that a financial revolution is already underway, transforming all sectors of the economy (…) I am convinced that the performance of our shares right now is proof that we are making the right decisions (…) In addition, we are very proud to have a team of professionals capable of leading our crypto mining operations (…)”Joseph Collins, CEO of URBT
As China drops out of the game, the battle to take over the largest cryptocurrency mining footprint rages on. Canadian companies, such as HIVE Blockchain, and others from the United States, such as Marathon Digital, are fighting to reclaim the golden goose miraculously offered on a platter by Xi Jinping’s regime.