Home Financial Markets Penny Stocks What Caused Xtra Bitcoin Inc (CBTC) Rising 45% In Weekend Session? Here...

What Caused Xtra Bitcoin Inc (CBTC) Rising 45% In Weekend Session? Here Is The Explanation

Shares of bitcoin mining firm Xtra Bitcoin Inc (OTCPK: CBTC) closed at $0.0359 on Friday rising 45.34% and have been trading between $0.0247 and $0.0369 for the day. In the last month, shares of CBTC have soared by 488.52%, with 84.11 million shares traded on average. Over the past three months, CBTC stock has grown by over 3490.64%, with an average volume of 91.34M. Its stock price has soared over 5028.57% over a period of a year with a high price of $0.0369. The market cap is $73.54M.

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  • The miners of XTRA Bitcoin Inc are deployed at a host facility while XTRA is building its 1 MW Rink facility in Canada’s Manitoba.
  • The production pipeline of XTRA involves 2.5 MW phase 1 of a proposed 10 MW bitcoin mining facility in facility in the Pacific Northwest USA.
  • The facility will use the new application-specific integrated circuit (ASIC) chip technology to run energy-efficient bitcoin mines.
  • The site has a capacity of 10MW, for this expansion, XTRA is aggressively pursuing financing.
  • Formerly named as Therapy Cells Inc (TCEL), the growth-oriented Bitcoin mining company is now known as XTRA Bitcoin Inc, since Oct 29, 2019.
  • A new ticker symbol, CBTC, was therefore allocated to the corporation to represent its business on the Bitcoin blockchain in the Crypto space of BTC (bitcoin) mining.

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What Happened?

Although there was no news directly linked to Xtra Bitcoin Inc (OTCPK: CBTC) stock. So the surge is likely to be occurring on the heels of escalating bitcoin prices in the cryptocurrencies market which exceeded $50,000 mark for the first time in recent days.

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