OLB Group Surges After Starting Bitcoin Mining Operation

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OLB Group’s (Nasdaq: OLB) share value jumped greater than 10% on Tuesday after the e-commerce service provider service supplier mentioned its DMint unit began mining bitcoin with 100 Antminer S19j Pro mining machines.

  • DMint expects to have a complete of 1,000 miners in operation at its newly put in Bradford, Pennsylvania, knowledge middle by the tip of the yr.
  • The firm plans to have a complete of 24,000 mining computer systems by the autumn of 2023, with capability to attain 2.4 exahash per second hashrate.
  • “Once all 1,000 miners are fully operational, OLB Group will have the capacity for an additional $1.1 million in revenue monthly, assuming a base market price of $45,000 per bitcoin,” Chairman and CEO Ronny Yakov mentioned in a statement.
  • The transfer comes as bitcoin mining has been a really worthwhile enterprise, given the cryptocurrency’s current bull run. Recently, Wall Street agency D.A. Davidson mentioned that the miners are “literally printing money” within the present market.