SOS Shares Rise 8% After Bitcoin Production
By Chris Wack
Shares of SOS were up 8% at $2.33 after the company said that between January 2023 and Feb. 29, 2024, it has mined a total of 29.434 bitcoin.
The blockchain and cryptocurrency company said that through its majority-owned joint venture, FD, it operates 726 Thor miner S99 at its Wisconsin super-computing center and 1,086 Thor miner S99 at its Texas super-computer center.
Assuming a per-unit price of $61,000, the total BTC output value for these centers was $1.8 million.
Bitcoin was trading at $68,755 at 10:05 a.m. ET, up 59% in the past month and 244% in the past 12 months.
FD also has 7400 S19 XP miners in the Texas site, which has a 42-megawatt capability. Since March 2023, the company has generated $5 million in hosting revenues.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
March 08, 2024 10:22 ET (15:22 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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