BlockQuarry Corp (OTC:BLQC) Stock In Focus After Latest News
Texas-based infrastructure and energy leader BlockQuarry Corp. (OTC:BLQC) is one of the companies that could be worth tracking this morning owing to developments from yesterday. On Tuesday, the company was in the news after it made a key new announcement. BlockQuarry revealed that it had commenced the development of its path-breaking high-powered computing (HPC) storage pod meant for Bitcoin mining and artificial intelligence computational applications.
The project marked a major new stride for the company’s overarching commitment to turning into a company with multiple revenue sources involved in the advancement of artificial intelligence, high-power computing, and cryptocurrency. The planned Bitcoin mining and artificial intelligence computational applications pod would demonstrate advanced engineering to go along with meticulous planning, which could help bring about a paradigm shift in the HPC, artificial intelligence, and cryptocurrency mining spaces. It may happen because BlockQuarry would combine advanced technologies with sustainable features, which would deliver new standards in terms of security, efficiency, and environmental responsibility.
The president and chairman of the company, Alonzo Pierce, spoke about the development yesterday. He noted that the development of the aforementioned pod was a demonstration of the company’s commitment to sustainability and innovation. Pierce went on to note that BlockQuarry was at the forefront of making a change in the HPC industry with the launch of its path-breaking infrastructure. He went on to note that this particular development could also provide the company with new sales channels.
In the news release from the company yesterday, it was also noted that the company was in talks with a patent attorney pertaining to the pod. The attempt to get the pod patent was an indication that the company was committed to protecting its intellectual property and innovative technologies.
Last week, the company came into the news cycle after it announced that it had completed the 2022 annual audit and made the submission to the OTCQB. On August 23, it was noted that the independent audit firm had completed the 2022 annual audit and that the same was going to be posted on the OTC Markets website. The third-party audit also confirmed that 2022 had been the best year with respect to revenues. The company’s revenues went up by as much as 500% from $6 million in the 2021 financial year.
However, that was not all. BlockQuarry also made an application to the OTC Markets for its stock to be listed on the OTCQB tier. The company revealed in its news release that the payment for the application had also been made, and the receipt of the same had been acknowledged by the OTC Markets.
It was further noted that the upgrade to its OTC Markets tier could be expected to happen in the coming weeks. BlockQuarry noted that it would keep shareholders apprised of the situation. The company went on to note that following the completion of the 2022 audit, it was confident about the approval and eventual listing to a higher tier.
