Vortex Brands Co. (OTCMKTS:VTXB) Stock Falls 35% In a Week: What’s The Buzz?

Vortex Brands Co. (OTCMKTS:VTXB) is down 35% in a week. The company announced an increase in more mining capacity by around 200 terrahash (TH/s) that went online a week ago. With the increase, the company’s total mining capacity is now 1,400 TH/s.

Market Action:

On Thursday, VTXB stock slid 5.11% at $0.0130 with more than 3.03 million shares, compared to its average volume of 1.78 million shares. The stock has moved within a range of $0.0110 – 0.0155 after opening the trade at $0.0132.

Vortex Brands Adds Mining Capacity

Already the company has ordered another 300TH/s to be installed in January. More details will be available in the coming days as the company continues towards its mission of purchasing 150,000 to 200,000 TH/s mining capacity in the next one and half years.

Vortex began mining a month ago, and between September 21, 2021, up to October 27, 2021, it had mined around 0.270629 bitcoin with an average daily rate of 1,100 TH/s. Notably, at Vortex’s current rate, the company projects monthly revenue of $16,332.85 each month. In addition, the company intends to be as transparent as promised and will offer updates regarding mining status to shareholders rather than waiting for quarterly reports. So, in the coming weeks, investors should watch VTXB.