Shares of the Powerbridge Technologies Co., Ltd. (PBTS) stock rallied in the Pre-market trading session on August 12, 2021. PBTS stock price saw a surge of 37.7% to reach $1.75 a share as of this writing. The stock went low at the previous closing by 0.78%. Let’s understand the reason behind this rise.
What’s Happening?
Powerbridge Technologies Co., Ltd is the technology stock that provides technology solutions and software applications in China. PBTS stock captivated the investors after announcing its expansion in the blockchain business by involving in Cryptocurrency mining. The stock is anticipating investing in cryptocurrency mining for two famous digital currencies, Bitcoin and Ethereum with planned operations across the globe. A proper team of industry veterans will work for this cause to develop and grow PBTS stock in the digital asset business.
The management of PBTS stock is optimistic for the bright future of cryptocurrency. According to the management, crypto mining is an integral part of its blockchain business. The stock is looking forward to building clean energy-based ETH and BTC network across the globe. The management firmly believes that this initiative will help in the overall growth of the PBTS stock.
Previous Activity by PBTS stock:
Powerbridge stock on July 27, 2021, did reveal the development of the Supply Chain Management SaaS Platform, based on Blockchain technology. This platform will integrate and optimize the traditional supply chain systems by using blockchain technology. People belonging to different areas of the supply chain will get help from this platform by connecting with each other via an integrated feature network. The platform will provide real-time information without compromising the credibility and efficiency of information transmission.
PBTS stock Partners with Huawei:
PBTS stock on April 14, 2021, did sign the partnership agreement with Huawei Technologies to promote the latter’s services to local Chinese ports and customs. Both stocks have visioned to make use of cutting-edge technology in the global trade industry application. Moreover, both parties are striving jointly to market their products and services to local Chinese ports and customs. Both parties are collaborating deeply to provide innovative digital transformation solutions to the trade industry worldwide.
Wrap Up:
Investors are taking interest in PBTS stock after it announced its willingness to invest and engage in cryptocurrency mining. The management considers cryptocurrency mining as an integral part of the expansion of the blockchain business and Powerbridge stock’s growth. The stock has a market cap of 61.293 million and a 2,777,834 average trading volume.
