Mining shift: company tells it will mine coins instead of minerals and grows over 100% in price

Natural Resources Holdings Ltd., based in Israel, has recently voiced its intention to acquire the technological company in Canada called Backbone Hosting Solutions Inc. or Bitfarms. Simultaneously with this, they stated that mining cryptocurrency is becoming more interesting for them than mining minerals.

If blockchain and mining was invented 50 years ago, these news would come unnoticed, but with the current situation and market sentiment when blockchain is a new cloud (remember how everybody talked about cloud technologies?), the price of Natural Resources Holdings stocks have visibly jumped up, similar to how Bitcoin jumped up after it became clear that financial institutions are developing Bitcoin futures.

However, to keep their stocks price this high, the company should not lose the momentum and immediately offer something similarly exciting. There is a reason to believe that if they do not do so, the prices will go down.

As for Bitfarms, Bloomberg tells they operate four farms and are building two more. The energy they use is around 25 megawatts. The representative of the company told the aforementioned media in the email that they are, of course, glad to become so popular after humble beginnings in the plainest basement imaginable.