Powerbridge Technologies Co. Ltd. (PBTS) stock prices remained unchanged market trading hours on August 24th, 2021 at USD$1.39. Subsequent premarket fluctuations have seen the stock rise by 7.19%, bringing it up to USD$1.49.
PBTS Stock’s Agreement with Cryptodigital
August 25th 2021 saw PBTS stock announce having entered into a purchase agreement with Cryptodigital Holdings Ltd. the SaaS solutions and Blockchain applications provider signed a cryptocurrency mining machine purchase agreement. As per the agreement, the company will purchase a total of 5,600 bitcoin (BTC) and Ethereum (ETH) mining machines. Delivery of the machines is expected to start in October 2021.
Details of the Purchase
The total of 5.600 crypto mining machines will be composed of 2,000 BTC miners and 3,600 ETH miners. The 2,000 BTC miners will consist of a mix of the Antminer S19 Pro, Antminer S19, and other models. These models represent an expected hash rate of 200 PH/s. The 3,600 ETH miners will consist of high performance RTX 3070, RTX 3060 Ti, and other models. These devices represent an expected hash rate of 1,700 GH/s.
Scope of Transaction
The deployment of these miners is forecasted to result in a sharp increase in the company’s production capacity of both bitcoin and Ethereum cryptocurrencies. PBTS stock expects to continue investing in the acquisition of crypto mining machines. This is in the interest of enhancing their overall computing power for both BTC and ETH, which are the world’s leading cryptocurrencies.
About PBTS Stock
PBTS stock is a growth-driven tech company that primarily engages in Software as a Service solutions and Blockchain applications. PBTS SaaS integrates artificial intelligence, big data, and Internet of Thing offering SaaS platforms. This facilitates cross border eCommerce, supply chain, data intelligence, and IoT applications and devices. PBTS Blockchain is comprising of bitcoin and Ethereum mining and digital assets. Their Blockchain is also comprised of IPFS distributed network services, as well as industry-specific Blockchain applications.
Future Outlook for PBTS Stock
The company is poised to capitalize on the opportunities afforded to it as a result of its recent purchase agreement with Cryptodigital Holdings Ltd. PBTS stock is keen to accelerate the deployment of the mining machines so the company can continue their trajectory of success over the long term. Current and potential investors are confident in management’s ability to leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value.
