- With Bitcoin hitting an all-time-high following Trump’s election win, the broader market is once again keyed into all things crypto
- Crypto technology stock CryptoBlox has tripled its Bitcoin mining hashrate to capitalize on the spotlight
- Environmental sustainability stock Kontrol Technologies is also keen on leveraging positive crypto sentiment by adding more Bitcoin to its balance sheet
- Read on to learn more about these micro-cap stocks advancing Bitcoin mandates
With Bitcoin hitting an all-time-high following Trump’s election win, the broader market is once again keyed into all things crypto, shining a light on stocks whose underlying companies provide exposure to the digital asset class.
Here are two micro-cap stocks advancing Bitcoin-centric mandates with Friday news to round off your week:
CryptoBlox triples Bitcoin mining hashrate
First off, we have CryptoBlox Technologies (CSE:BLOX), whose Red Water Acquisition subsidiary has initiated operations at its Redwater, Alberta, Bitcoin mining facility after signing a management services agreement (MSA) with True North Data Solutions on October 7, 2024. The subsidiary managed to more than triple the facility’s average hashrate from 4 PH/s on Oct. 7 to 14 PH/s on November 5 and 6, 2024.
“We plan on taking the maximum advantage of current Bitcoin prices,” Akshay Sood, CryptoBlox’s chief executive officer (CEO), said in a statement. “With our machines now operating at the higher hash rate, we are setting ourselves up to mine three times as many Bitcoins as when we entered into the MSA.”
CryptoBlox remains focused on enhancing mining capacity through new technology and sustainable practices.
Kontrol Technologies announces $2 million Bitcoin purchase plan
Not to be outdone, Kontrol Technologies (CBOE CA:KNR), a provider of environmental solutions for buildings, announced plans to add $2 million in Bitcoin to its balance sheet following a recent $1 million investment.
Kontrol will purchase US$500,000 per month for four months funded through hold-back receivables, treasury and future cash flows, as it continues to expand market share for its energy management and emissions monitoring technologies.
The company is currently expanding its services and solutions in three data centers operated by some of the largest telecommunication companies in Canada.
“In addition to having a strong cash position, we also have a number of hold-back receivables related to the closings of our prior business sales. We can grow our Bitcoin strategy while maintaining a healthy cash balance for potential future acquisitions,” Paul Ghezzi, Kontrol Technologies’ CEO, said in a statement. “In addition, we are pleased to expand our work with our data center customers and will seek to continue to grow these business opportunities.”
About CryptoBlox Technologies
CryptoBlox is a blockchain technology infrastructure company expanding in the areas of digital asset mining and infrastructure, mining products and technology, and structured blockchain products and services.
CryptoBlox stock (CSE:BLOX) is unchanged trading at C$0.14 per share as of 12:46 pm ET. The stock has added 575 per cent year-over-year.
About Kontrol Technologies
Kontrol Technologies is a specialist in smart buildings and cities. Its solutions and services improve energy management, monitor emissions and accelerate sustainability for REITs, municipalities, property managers and industrial and commercial buildings.
Kontrol Technologies stock (CBOE CA:KNR) is down by 2 per cent trading at C$0.245 per share as of 12:46 pm ET. The stock is unchanged year-over-year.
Join the discussion: Find out what everybody’s saying about these Bitcoin-friendly micro-cap stocks on the CryptoBlox Technologies Inc. and Kontrol Technologies Corp. Bullboards and check out the rest of Stockhouse’s stock forums and message boards.
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(Top image, generated by AI: Adobe Stock)
