Natural Resources Holdings Ltd., an Israel-based mining company, has become the latest company to benefit from the amazing magic (turning everything it touches into gold) of blockchain technology .
Shares of the mining company (which invests primarily in metal mines located in North America) have soared 159% after it was announced last Sunday that it was about to get its hands on 75% of the Canadian company specializing in “crypto mining” Backbone Hosting Solutions Inc. (also known as Bitfarms).
This is not the first time that Natural Resources Holdings Ltd. shares have seen a surge in value over the past few months. The company's stock has increased in value by more than 2,000% since the company announced on October 17 that it was considering changing its name to Blockchain Holdings and mulling the acquisition of a crypto mining company.
Bitfarms currently operates four “farms” and has two more under construction. The computers housed sri lanka phone number in its farms are dedicated to mining different cryptocurrencies (Bitecoin, Bitcoin Cash, Ethereum and Litecoin).
Canada, the home country of Bitfarms, is one of the world’s most popular crypto mining hubs . Electricity (needed to complete cryptocurrency operations) is relatively cheap in the North American country. And Canada’s cold weather makes it easy for the farms to cool the hardware devices installed there.