Nate’s Food Co. (OTCMKTS: NHMD) fell 4% on Friday after announcing the purchase of six more S19j Pro (100 TH/s) machines for their BTC mining.
Trading Data
On Friday, NHMD stock fell 4% at $0.0048 with more than 11.49 million shares, compared to its average volume of 22.65 million shares. The stock has moved within a range of $0.0041 – 0.0058 after opening trade at $0.052.
Nate’s Food Co. Purchases S19j Pros For Its Bitcoin Mining Operation
The company expects the new machines to be delivered next month, and installation is expected in January 2022. Most importantly, the machines will cost around $220 per unit each month. Currently, Nate’s Food owns around 1,500 TH/s mining that is anticipated to create monthly revenues of almost 18,000. With the addition of these new units, the company will increase its revenue to almost $25,000 each month, which will be in line with its predicted growth and mining operations build-out.
It is vital to note that the company’s revenue calculations are accurate and rely on factual information. However, there is no assurance that Nate’s Food will achieve these estimates because of related business factors like mining equipment availability, power pricing, BTC market pricing, BTC mining difficulty, and other issues involved in mining rigs deployment. So in the coming days, NHMD is worth watching.
Technical Data
NHMD stock is trading below the 20-Day and 50-Day Moving averages of $0.0060 and $0.0059 respectively. However, the stock is trading above 200-Day moving average of $0.0029. The stock is down 38% in the past month.
