Powerbridge Technologies (PBTS) Stock Rockets On Crypto News

Powerbridge Technologies Co Ltd (NASDAQ: PBTS) is screaming for the top in the premarket hours this morning after the company announced that it’s planning on jumping into the cryptocurrency mining arena. Here’s what’s going on:

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PBTS To Start Mining Cryptocurrency

In the press release, Powerbridge Technologies said that it plans to invest and engage in the cryptocurrency mining industry. In particular, the company plans to launch global operations surrounding Bitcoin and Ethereum. 

PBTS went on to explain that it has assembled a team of industry veterans in cryptocurrency and technology to support the development and growth of its digital asset business.  

Management Commentary

In a statement, Stewart Lor, President and CEO at PBTS, had the following to offer:

We are optimistic about the positive outlook of the cryptocurrency market. Our initiative to engage in crypto mining is an important part of our overall blockchain strategy. We strive to continually build a clean energy based BTC and ETH mining network globally. We believe our crypto mining business will generate valuable digital assets that help accelerate the Company’s growth.

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Final Thoughts

All told, this is great news for PBTS and its investors. After all, cryptocurrency has quickly grown to become a hot commodity, with those mining the digital coins making a pretty penny in the process. With the company jumping into the mining industry, investors can expect significant revenue growth ahead. 

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