At the closing candle yesterday, Sysorex Inc (OTCQB: SYSX) was at an impressive gain of 608.92% to $7.55. There were 3.68 million shares of Sysorex stock traded on the day compared to its average monthly volume of 12.42K shares. The SYSX stock rose following news of the reverse triangular merger.
What was the triangular merger?
In the United States, Sysorex provides information technology solutions and services to both commercial and government customers. IT consulting, embedded security, professional services, engineering support, enterprise-level technology, networking, wireless, help desk, and custom IT solutions are just some of the solutions offered by SYSX.
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SYSX offers a host of the latest technology to the market, including hardware, software, as well as maintenance and support services. A wide range of SYSX solutions, services, and monitoring tools enable an enterprise to manage and protect its enterprise assets – whether it is in the cloud or at the client site – and monetize them effectively.
Sysorex recently announced that it had closed reverse triangular merger with TTM Digital Assets & Technologies, Inc., a company dealing in data centers and now, the largest U.S. publicly traded Ethereum mining company based in North Carolina and New York.
The TTM deal will make SYSX the first Ethereum company to be listed on public U.S. markets while TTM will become the core business of SYSX.
SYSX will continue to offer a comprehensive solution for secure access, network performance, and cybersecurity to the U.S. government’s people through its wholly-owned subsidiary, Sysorex Government Services, Inc.
How SYSX will benefit?
A pioneer in Ethereum mining with an operations history of over a year, TTM has enjoyed profitability and has made a consistent return on investment since its inception. In the days prior to the Merger, TTM mined and distributed Ethereum that, if held by today’s Ether (ETH) pricing of approximately $2,325, would be valued at approximately $35,000,000. Sysorex (SYSX) will be better off as a result.