Seeking Alpha Rates MKTY as the Best Bitcoin Mining Investment
Mechanical Technology, Incorporated (MKTY) was recognized this week by Seeking Alpha as the “Best Bitcoin Mining Investment.” Share prices have already risen 20%. Based on their projections, that’s just the beginning. SA’s market analysis makes is clear that MKTY is positioned to be the market’s biggest mover this year in the cryptocurrency mining space.
CEO Michael Toporek is not surprised. His business strategy, which was aided by the Chinese “unplugging” from crypto mining earlier this year, has been to purchase reduced priced S19s from dormant miners and plug them into renewable power sources. The combination, according to SA, gives them “best-in-class” power costs with green energy.
MKTY already trades at a significant discount when compared to other public cryptocurrency mining operations. Unlike their competitors, the company has secured the capacity for growth. Their current expansion rate puts them at 50MW by year’s end, doubling current output, with the resources in hand to expand to 300MW.
Soluna Acquisition Moves EcoChain into Large Cap Territory
EcoChain, a wholly owned subsidiary of Mechanical Technology Inc (MTI), acquired Soluna Computing, Inc to open the third quarter of 2021. Soluna is a developer of scalable data centers, an obvious need for an expanding company. Soluna is also an acquirer of excess renewable energy from solar and wind farms. The new entity is called Soluna Holdings.
The green energy approach employed by MKTY puts them significantly ahead of their competitors. Government regulatory bodies have been clamoring about the energy consumption of crypto mining, threatening potential legislation and even bans, which is what happened in China. MKTY has proactively positioned themselves to avoid this.
According to Seeking Alpha, with 12.7 million shares outstanding and 3.2 million more scheduled to be issued if Soluna transaction targets are hit, the total market cap for EcoChain could exceed $110 million. That projection was based on a $7.80 share price. The stock opened at $8.55 this morning.
Disclaimer
This communication was produced by Prism MarketView, an affiliate of PCG Advisory Inc., (together “PCG”). PCG is an integrated investor relations, communications and strategic advisory firm. The information contained on this is ‘Paid Advertising’ for purposes of Section 17(b) of the Securities Act of 1933, as amended (together with the rules and regulations there under, the “Securities Act”). “PCG” and its affiliates are compensated by respective clients for publicizing information relating to its client’s securities. For more information in terms of compensation received for services provided by PCG, see the pertinent advertising materials relating to the respective client. By accessing this Site and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy…