The OLB (NASDAQ:OLB) trades 4.9% higher premarket after it signed a long term lease on a 10K sq.foot mining operation with capacity for up to 2K Antminer S19j PRO machines. The facility is in the process of being converted into a cryptocurrency mining data center powered on the local power grid in tandem with natural gas power. The company plans to utilize debt financing for the capital investment necessary for additional crypto mining machines. This data center will eventually meet the challenge of minimizing the company’s carbon footprint and operating a cost efficient and profitable operation. OLB’s wholly owned subsidiary DMint is dedicated to cryptocurrency mining.
For further details see: