In light of the remarkable rally in Bitcoin in recent times, interest in the crypto industry has been rekindled, and many investors are now looking into companies involved in the sector. One of the companies from the sector worth looking into at this point is Winland Holdings Corporation (OTC:WELX), which made a key announcement on Tuesday.
On April 23, the company announced that through Winland Mining LLC, its fully owned subsidiary unit, it had reached an agreement to acquire 20 units of Bitmain Antminer L7 9050M and 15 units of Bitmain Antminer S21 200 TH/S crypto miners from FRMO Corporation. In the news release, it was noted that the total purchase price of the miners was $193,675. Due to the transaction, the total number of outstanding shares with the company went up to 4,842,332 from 4,798,514 and also boosted the ownership stake of FRMO in Winland Holdings Corporation to 35.2% from 34.6%.
The company further noted in the news release that its decision to acquire crypto miners was in alignment with the previously revealed aim of exploring a range of business alternatives, including crypto-related assets, which could boost shareholder value. In relation to the acquisition of the crypto mining equipment, the company announced that it would continue to work in line with the services agreement signed with Horizon Kinetics LLC that had been previously referenced.
As per the terms of the services agreement, Horizon Kinetics could engage with the crypto mining hosting facilities operated on behalf of Winland Holdings Corporation. Horizon would also have the ability to support the crypto mining operations of the company as and when necessary. The latest announcement from the company was a significant one since it further demonstrated its commitment to making a strong move into the crypto mining space and potentially unlocking considerable value.
