A Vancouver-based tech firm is set to acquire a fleet of ASICS machines in order to commence its own bitcoin mining operations. Link Global Technologies Inc. (CSE:LNK) announced the closing of its non-brokered private placement by issuing 2,911,300 unites at a price of CAD $.35 per unit for total gross proceeds of CAD $1,018,955. They intend to use these funds in order to buy up mining machines in order to begin mining for bitcoin.
Link Global is engaged in providing infrastructure and operating expertise for cryptocurrency mining and blockchain technology. It engages in cryptocurrency mining activities through its data hosting centre located in Boardman, Oregon, and data hosting centre located in Beaver Falls, British Columbia. The company mines cryptocurrency coins.
Traders understandably traded up these shares following the news seeing that Bitcoin continues its rise. Shares hit an early session high of $1.30/share (+28.7%) following the headline, which is a continuation of this week’s strong rally.