Riding The Blockchain Train: These Companies Changed Their Name, And Their Stock Price Soared

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BEFORE: Leeta Gold Corp.
AFTER: Hive Blockchain Technologies

Leeta Gold was focused on mineral exploration in Canada, though with little apparent success. This summer, the company said it was acquiring a Bitcoin mining company, Genesis, with facilities in Iceland and renaming itself.

According to the company: “This transaction positions HIVE as a leading cryptocurrency miner in an attractive jurisdiction, Iceland, with low energy costs.” (June 14)

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Other companies have been less blatant about their "pivot", and instead changing their name, they acquired or announced expansion plans involving various "blockchain"-linked buzz words.

Digital Power Corp

The power system solutions provider has launched cryptocurrency mining operation.

  • Market cap as of Oct. 11: $10.98 mln
  • Market cap as of Dec. 21: $97.2 mln

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Marathon Patent Group

Shares in the intellectual property licensing and management company have zoomed after announcing a deal to buy cryptocurrencies miner Global Bit Ventures Inc.

  • Market cap as of Oct. 11: $17.8 mln
  • Market cap as of Dec. 21: $54.5 mln

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Social Reality

The internet advertising firm in October said it planned an Initial Coin Offering of Blockchain Identification Graph tokens (BIGtokens). Most recently, the firm said it would offer a cryptocurrency dividend.

  • Market cap as of Oct. 11: $28.4 mln
  • Market cap as of Dec. 21: $52.2 mln

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Nova LifeStyle Inc

The furniture maker launched a blockchain-enabled unit, called “I Design Blockchain Technology Inc” on Wednesday and said it planned to accept bitcoin and other cryptocurrencies on the platform.

  • Market cap as of Dec. 19: $60.8 mln
  • Market cap as of Dec. 21: $78.6 mln

Source: Reuters, NYT

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