From Ice Tea to Blockchain: As US Securities and Exchange Commission (SEC) investigation said earlier this week, ice block maker Long Blockchain is following its announcement and is in the process of boosting its mining business. With Chinese infrastructure from Bitmain, company follows the change announced in December in the company course. Like a multitude of others, the beverage producer not only announced that he would shift his business to the digital market, but also marked this change by name and sparked starting signal for a veritable market share of his stock.
This insight from the past year 2017 has left a lot of companies. Ice tea maker Long Blockchain is one of those freeloaders. After the tea maker, formerly known as Long Island Icetea, announced its name change last year , the next step in the book is the New York Strategic Reorganization.
According to a recent Securities Exchange Commission SEC investigation on Friday, January 5, the company is currently serving 1,000 Bitcoin Antiminer S9 bits from Chinese manufacturer Bitmain . This is the first important step, according to company circles.
“We see the purchase as an important and decisive first step in the company’s alignment with Blockchain technology. The launch of our mining companies is setting us on course to achieve future enrichment of bitcoin-blockchain-based profits, “
said Philip Thomas, Managing Director of Long Blockchain Corp.
With a view to the future production site, Long Blockchain is currently only trying to gain a foothold in a “Nordic country”. Nevertheless, speculation remains as to whether Iceland could become the promised land of entrepreneurial reinvention due to low energy prices.
Incidentally, one wants to continue to hold on the iconic brand name and the associated beverage division of the company.
This is the first time that company is giving shape to its plan to devote itself to Blockchain technology in the future. Managing Director Thomas had previously described this change in the company’s course as a unique opportunity.
Gains thanks to the name change
In the course of the reorientation and the associated name change in Long Blockchain, the company also achieved a notable coup on the American NASDAQ Stock Exchange.
So the price of the company’s stock went from just under two to around nine dollars through the ceiling after renaming and sniffing undreamt of mountain air. Overall, the share managed to gain almost 450% – based solely on undefined innovations in the future.
However, the case of Long Blockchain is just one of many. At the moment, people are increasingly witnessing strategic name changes, announcements and speculations surrounding the supposedly forward-looking terms Blockchain and crypto currencies. For example, the British Internet company On-Line Blockchain alone was able to increase its share value by 400% with the addition of the name Blockchain. In Germany, the broker Fritz Nols managed a similar feat at the end of December. Previously, they announced that they wanted to take crypto currencies into their portfolio.
And the trend continues: As Bloomberg reports, the word “Blockchain” was found in 110 press releases in the first four days of the year alone.
So it is clear – as long as the hype persists, it is speculated further and earned money on exchanges with mere words. The case of Long Blockchain will be far from the last case.
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Categories: Crypto Currency