Vortex Brands Co (OTCMKTS:VTXB) Stock Falls After Acquisition News
Technology Holdings Company focusing on the cryptocurrency sector, particularly Bitcoin Mining, Vortex Brands Co (OTCMKTS:VTXB), on May 3, 2023, acquired new Bitcoin mining machines. This is part of the company’s expansion strategy, with deployment expected to augment its hashpower and result in greater quarterly dividends for shareholders.
Trading Data
On Wednesday, VTXB stock fell 20% to $0.0002 with 36.49 million shares, compared to its average volume 29.20 million shares. The stock moved within a range of $0.0002 – 0.0003 after opening trade at $0.0003.
Vortex Brands Co. Acquires New Bitcoin Mining Machines and Continues to Expand Hashpower
The machines would be deployed to the firm’s mining farm partners, located strategically in areas with favorable regulatory environments and low energy costs. Vortex is aiming to capture a significant share of the growing Bitcoin mining market through the expansion of mining capacity.
It is committed to harnessing cutting-edge technology for enhancing the profitability and efficiency of its mining operations. The company has engaged with two third-party investor relations providers for enhancing its profile with the global investment community.
Equity Fund Consulting Group will develop digital marketing campaigns as well as services for raising public awareness about the firm and promoting business. Bitcoin Online will give similar services. Agreements with both providers are for a single month and the company will bear a total cost of $48,000.
Vortex has a robust history of delivering sound returns to shareholders through a business model, generating revenue through mining activities, and giving regular dividends. The company is harnessing the opportunity to expand hashpower and capturea bigger share of the Bitcoin mining market.
