BitFrontier Capital Holdings Inc (OTCMKTS:BFCH) Stock Rallies After The Acquisition News

It could be a good idea for investors to consider tracking the BitFrontier Capital Holdings Inc (OTCMKTS:BFCH) stock this morning in light of the major announcement that was made by the company last Friday.

Trading Data

On Friday, BFCH stock gained 3.48% to $0.0119 with more than 2.02 million shares, compared to volume of 927.63K shares. The stock moved within a range of $0.0110 – 0.0121 after opening trade at $0.0115.

BitFrontier Capital Holdings, Inc. Signs Letter of Intent to Acquire Asic Miners US & Announces Another Board Member

The company announced at the time that it had initiated plans for eventually acquiring ASIC Miners US. It was noted that the letter of intent had been executed by both companies and the process is going to move quickly so as to complete the acquisition by the end of January 2023. It could well prove to be a major new acquisition for BitFrontier Capital Holdings, considering the fact that ASIC Miners is one of the major cryptocurrency miner suppliers in the industry.

As it happens, the company’s total sales had already gone past the $6 million threshold not too long ago. One of the more important things to keep in mind with regards to ASIC Miners is that it serves customers of all sizes.

It supplies miners to people who may be mining cryptocurrency at home or to companies of varying sizes who may be involved in cryptocurrency mining. At this point in time, BitFrontier Capital Holdings is growing its own crypto mining farm in North Carolina.

Technical Data  

BFCH stock is trading above the 20-Day and 50-Day Moving averages of $0.0107 and $0.0095 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0096.