Cryptocurrency Mining Stock Powers Up on Acquisition

HashChain Technology Inc. (TSXV:KASH), a cryptocurrency mining stock, jumped after agreeing to acquire a company with 1,000 new S9 Antminer Rigs

Sean Mason | April 24, 2018 | SmallCapPower

More rigs was good news for investors in a cryptocurrency mining stock Tuesday. Here’s some small stocks making big moves on Tuesday, April 24, 2018 (as of 4 pm EST):

HashChain Technology Inc. (TSXV:KASH), a cryptocurrency mining stock, climbed 16% to $0.40 on Tuesday after announcing that it has agreed to acquire a company with 1,000 new S9 Antminer Rigs in consideration for the issuance of 8.9 million HashChain shares at a deemed price of $0.35 per share.

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As well, shares of YANGAROO Inc. (TSXV:YOO) slid 28% to $0.245 as the digital media management and distribution company said its total operating expenses for fiscal 2017 rose 21% to $7,351,905.

Mitel (TSX:MNW), meanwhile, reported that it has agreed to be acquired by an investor group led by affiliates of Searchlight Capital Partners, L.P. in an all-cash transaction valued at approximately $2.0 billion, including Mitel’s net debt, or $11.15 per common share in cash. Mitel stock moved up 10% to $14.29 following the announcement.

Finally, Delphi Energy Corp. (TSX:DEE) shares rose 8% to $0.99 after the liquids-rich natural gas producer announced that it has achieved production of 9,515 boe/d in the first quarter of 2018, a 16% increase over the comparative quarter in 2017.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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