LOS ANGELES - August 16, 2021 - (Newswire.com)
Urban Television Network Corp (OTC PINK: URBT) proudly announces that its stocks are rallying amid news it will begin crypto mining operations on November 1, 2021, in line with its plans to expand by breaking into the cryptocurrency industry. The project, which will target Bitcoin and Ethereum mining, will be led by Kimberly Douglas, a crypto mining expert and an advocate for mass adoption. She is establishing a team to carry out URBT's blockchain-based mining.
Investor confidence has risen as a result of these announcements, an expected plethora of strategic changes to follow and the exciting growth the cryptocurrency market is currently witnessing. The board of URBT had earlier approved the crypto mining operation to take off with approximately 200 high-powered mining computer systems purchased from reliable manufacturers across the country under the leadership of a crypto enthusiast and crypto mining expert, Kimberly Douglas.
After more than three months of lows in the crypto market since 2021 began, due in part to Tesla's turn from accepting Bitcoin for payment, the combined value of the world's cryptocurrencies hit $2 trillion in August and investors are growing optimistic again that it will reach the record highs it reached earlier in the year and even surpass them. This wave of optimism is bolstering URBT'S confidence in mining top cryptocurrencies like Bitcoin and Ethereum. Many analysts, including Bloomberg, already predict that Bitcoin, which has just passed the $46,000 mark could hit $100,000 by the end of the year, with other cryptocurrencies following suit.
Joseph Collins, CEO of Urban TV Network Corp. (OTC PINK: URBT), speaking about the stock rally: "Our investors can be excited about the direction our company is taking as we enter into the crypto mining space. We are an organization for the future, and we see that a financial revolution is already taking place that is transforming every sector of the economy, and we want to be a part of that. Presently, I am confident the performance of our stock right now is proof that we are making the right decisions and investors who are constantly observing the market changes can see this. Furthermore, we are very proud to have a capable team to lead our crypto mining operations."
Visit https://urbt.com to learn more about URBT (OTC PINK: URBT).
Safe Harbor Statement: This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition.
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Original Source: Urban (OTCPINK: URBT) Stock Rally Amid News That It Will Begin Crypto Mining Operation
