ChineseInvestors.com, Inc. (OTCQB: CIIX) is doubling down on its commitment to cryptocurrency. The company recently announced that it has acquired various pieces of equipment, including AntMiners, and installed them inside of a secure datacenter near Seattle. CIIX intends to use this equipment to explore blockchain mining (http://nnw.fm/wS31B).
CIIX said that, based on initial reports, it believes that cryptocurrency mining will result in a successful venture. If this forecast proves correct, CIIX anticipates ordering 500 or more application specific integrated circuit (ASIC) units. Additionally, the company would consider purchases of graphical processing units (GPUs) and other equipment used for blockchain mining.
The goal of these efforts is to achieve minimum hash rates that are consistent with the equipment specifications by the end of CIIX’s fiscal year on May 31, 2018. ASIC chips are seen as the ‘hashing workhorses’ of AntMiner units (http://nnw.fm/MsKn4).
CIIX is a company focused on educating and informing its global Chinese-speaking audience on a variety of financial subjects. It also has a core consulting business that manages brand building and roadshows for clients.
Prior to this new focus on the exploration of actual cryptocurrency blockchain mining, CIIX had already assumed a leadership position in this industry. It hosts a bitcoin ATM in the lobby of its San Gabriel, California, headquarters. It also broadcasts a daily video from the floor of the NYSE, titled ‘Bitcoin MultiMillionaire’, reporting on cryptocurrency news. Additionally, CIIX maintains an online crypto news website at www.NewCoins168.com.
In a news release, Warren Wang, CEO of CIIX, explained, “The Company endeavors to be on the cutting edge of blockchain technology and to stay ahead of the curve in an effort to continue to build shareholder value and increase revenues this year… This initial step into cryptocurrency mining positions the company to capitalize on a growing industry which could have tremendous upside potential.”
For more information, visit the company’s website at www.ChineseInvestors.com
More from CryptoCurrencyWire
About CryptoCurrencyWire
CryptoCurrencyWire (CCW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with CCW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled visibility, recognition and brand awareness. CCW is where news, content and information converge.
For more information, please visit https://www.cryptocurrencywire.com
Please see full terms of use and disclaimers on the CryptoCurrencyWire website applicable to all content provided by CCW, wherever published or re-published: https://www.cryptocurrencywire.com/disclaimer/
CryptoCurrencyWire (CCW)
New York, New York
www.cryptocurrencywire.com
212.994.9818 Office
Editor@CryptoCurrencyWire.com
The stablecoin market has reached a historic milestone, crossing the $300 billion mark in total…
Wall Street giant Morgan Stanley has encouraged investors to consider allocating between 2% and 4%…
Russia is taking steps to create its own system for managing crypto transactions through government-backed…
Beeline Holdings Inc. continues to see growing opportunities in the millennials and Gen Z market…
The company has eliminated more than $7 million in debt, excluding warehouse credit lines tied…
Kazakhstan has introduced its first national cryptocurrency reserve—the Alem Crypto Fund—with BNB chosen as the…