On March 22, AIset EHome International Inc. (AEI) announced the launch of its wholly-owned subsidiary AIset Mining Inc. for cryptocurrency mining. Consequently, AEI stock enjoyed a day full of gains with its bullish momentum extending to the after-hours as well.
During the regular trading session, the stock saw an upsurge of 12.71% after fluctuating between $0.5000 and $0.5515. AEI closed the session at a price of $0.5392 per share while 16.12 million shares exchanged hands. The volume of the shares traded remained above the average at 307%. Following this, the stock continued to rise in the after-hours as it added a further 11.09%. Hence, the stock was trading at a value of $0.5990 per share in the after-hours while the volume of shares exchanged was 1.19 million.
The holding company, AIset EHome International Inc. is engaged in various businesses through its subsidiaries including property development, digital transformation technology, and biohealth. With the latest launch, the company has now entered the crypto mining business as well. Currently, the company has a market capitalization of $48.61 million with its 101.61 million outstanding shares. Standing at a year-to-date loss of 3.37%, AEI subtracted a huge 95.02% last year.
AEI’s AIset Mining Inc. Launch
As announced on Tuesday, AEI has now entered the crypto mining business with the launch of its new subsidiary Alset Mining Inc. Moreover, to be primarily engaged in investments in the crypto mining industry, Alset Mining will acquire mining rigs for creating consistent revenue flow. Given the huge costs and requirement of power sources for running mining rigs, AIset Mining will invest in sustainable sources of energy like wind, solar, or hydroelectricity. Therefore, this will not only cut down energy costs but also align its operations with the company’s sustainability efforts for healthy living.
According to Co-CEO of AEI, Mr. Chan Tung Moe, this new business endeavor will prove pivotal for the company. With the bullish outlook of the global cryptocurrency mining market, the company plans to evolve along with the market for leveraging the opportunities it will provide.
Recent Addition to the Team
On February 17, the company announced the appointment of Anthony S. Chan as its Chief Operating Officer. With more than 32 years of experience in auditing, compliance, and risk management along with business advisory services, Mr. Chan is a certified public accountant.
