What's Going On With Urban Tv Network Corp?
Urban Tv Network Corp (URBT) stock jumped after the 34-year-old media company announced it's expanding its operations into the crypto universe by launching a new cryptocurrency mining business on Nov 1. Shares of the company were trading 34.51% higher to $0.0417 a share on Monday.
What Does This Mean For Urban Tv Network Corp?
Urban, which recently turned Pink status on the OTC Markets, will target Bitcoin and Ethereum, as well as other established crypto currencies. Further, making Urban a leading name in the crypto mining business, and leveraging its rapidly growing user and investor base in the mining process.
"We are a fast-growing company and in line with our commitment to excellence, we have decided to throw our hat in the ring and begin crypto mining operations beginning primarily with Bitcoin and Ethereum. Today, the digital money market is one of the largest financial markets in the world. Early crypto adopters have reaped a great benefit and we have seen a great opportunity to put our resources into mining for digital currencies because we know the potential it holds for our business and for investors alike. Of course, we know crypto mining business requires highly sophisticated and massive computation and secure stable power supply to operate and cool the computers, which is why we have gone out of our way to ensure no stone is left unturned in providing the necessary resources that will drive this project," said Joseph Collins, CEO of Urban.
Urban now joins 200 mining high-powered computer systems, using clean energy, set to launch in the vastly popular world of crypto trading.
Urban Television Network Corporation operates a broadcast television network in the United States. It primarily focuses on serving the African-American and Hispanic populations, and other ethnic populations in the urban market.
