There are now plenty of options for investors who may be looking into the possibility of investing in cryptocurrency companies and one of those at this point is the BlockQuarry Corp (OTCMKTS:BLQC) stock.
The company, which is based out of Texas, is best known for having early-stage commercial operations in the cryptocurrency self-mining and mine hosting space in the Southeastern region of the United States. This morning the company has come into focus after it announced its financial results for the fourth fiscal quarter and the full fiscal year, both of which ended on December 31, 2021.
As far as operational announcements are concerned, BlockQuarry announced that the Phase One 20MW hosting infrastructure had been launched fully at its cryptocurrency site in the Southeastern region of the United States. It was also noted that the operation is going to help in generating as much as $9.5 million in the form of yearly revenues.
BlockQuarry noted that 2021 had proven to be a breakthrough year for the company and all the investments that it had made during the course of that period had also started bearing fruit. In the 2021 financial year, the company managed to bring in revenues to the tune of as much as $960,000, and that reflected a year-on-year rise of a staggering 1643%.
On the other hand, the cash balance at the end of the year stood at more than $542,000. That reflected a year-on-year rise of as much as 540%. The total valuation of the assets under the company’s control at the end of the year stood at $10.8 million and that again reflected a year-on-year rise of an eye-popping 5965%.
In light of such massive year on year growth, it is likely that the stock is going to come into focus today.
