Neptune Digital Assets, whose shares are traded on the VC section of the Canadian Stock Exchange, is officially transitioning to Bitcoin mining. The company has entered into an agreement with Link Global Technologies, which will provide infrastructure for hosting a mine for 1,500 ASIC miners, as well as services for their maintenance.
Neptune Digital Assets issued shares in 2018 as a crypto payment service provider based on the DASH blockchain.
The company planned to attract customers through anonymous payments, and also receive staking income by managing masternodes. Neptune chose not the best time for listing on the stock exchange – the beginning of 2018, crypto winter has devalued its shares by 8 times. It was possible to recover half of the cost only thanks to the crypto spring of 2020. The interest of hedge funds in the securities of companies focused on cryptocurrency has allowed Neptune to recoup half of its losses.
The subsequent pullback “took” half of the recovery growth, but the focus on mining once again brought the upward trend back into stocks. Investors believed that a guaranteed income of 0.7 BTC would significantly improve the company’s financial performance in the second quarter of this year, even in the event of a fall in the cryptocurrency rate.
In general, the stock market is now actively investing in public mining companies. The profitability of Bitcoin mining fluctuates in the region of $ 8-9 thousand, and the mines can be operated remotely, with a small number of personnel. This makes the company’s business resilient to the challenges of the pandemic.