BlockQuarry Corp (OTCMKTS:BLQC) dropped 3%after announcing operational and financial performance highlights for the year ending December 31, 2021.
Trading Data
On Monday, BLQC stock fell 3.11% to $0.8425 with more than 79K shares, compared to volume of 257K shares. The stock moved within a range of $0.8200 – 0.8799 after opening trade at $0.85.
BlockQuarry Completes Phase One 20MW Launch: 5,600 Miners Now Online Driving $9.5M Annualized Revs; 2021 Audited Financials Filed
Also, the company revealed the full launch of its Phase One 20MW housing infrastructure at the South US crypto mining location, expected to drive almost $9.5 million in yearly revenue going forward. For the 12 months ending December 31, 2021, the company reported revenue of $0.96 million, representing a YoY increase of 1,643%. Net operating loss reduced from $8.3 million to $3.4 million, and total assets at the end of the year were up 5,965% YoY to $10.8 million.
Last year the company changed its name and ticker symbol and also engaged in various partnerships to enhance innovative hybrid cryptocurrency mining. BlockQuarry transitioned its self-mining facility to a South-eastern US location from Pennsylvania and set up a 200 MW project in Gaffney, South Carolina, following up on deployment of the initial 20MW next-generation POD5 containers. So BLQC is worth keeping an eye on.
Key Quote
“2021 was a breakthrough year for the Company, and the investments we made during that period are already starting to pay big dividends as we begin to collect on the implementation of our Phase One hosting infrastructure,” noted Alonzo Pierce, President and Chair of BlockQuarry. “The topline exploded higher last year, and the bottom line is set to swing in our favor sharply as we get past our major fixed costs.”
Technical Data
BLQC stock is trading below the 20–Day and 50-Day Moving averages of $0.97 and $1.03 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.40.
