OLB Group (NASDAQ: OLB) shares jumped more than 10% on Tuesday, after the e-commerce merchant service provider said its DMint unit started mining bitcoin with Antminer S19j Pro miners.
- DMint expects to have a total of 1,000 miners in operation at its newly installed Bradford, Pa. data center by the end of 2021.
- The company plans to have a total of 24,000 mining computers by the fall of 2023, with capacity to achieve 2.4 exahash per second hashrate.
- “Once all 1,000 miners are fully operational, OLB Group will have the capacity for an additional $1.1 million in revenue monthly, assuming a base market price of $45,000 per bitcoin,” Chairman and CEO Ronny Yakov said in a statement.
- The move comes as bitcoin mining has been a very profitable business, given the cryptocurrency’s recent bull run. Recently, Wall Street firm DA Davidson said that the miners are “literally printing money” in the current market.
