Mining companies listed in the UK start buying Bitcoin – This is the reason

Hamak Gold has become the third miners registered in the UK who started buying Bitcoin, spent nearly £ 1.8 million for cryptocurrency. A number of Bitcoin Treasury Company (BTCS) quickly appeared at the London Stock Exchange, with the company stated or overhauled all of their businesses to focus on new strategies.

BTC collects more and more bitcoin, pulling investor waves looking for ‘bitcoin results’ exposure, which is a return that is not in the Fiat currency such as sterling but in the cryptocurrency unit. The trend pioneered by the US-based microstrategy has caused companies listed in London to gather very large stock prices over the past few months. But the small gold miners who are registered are now participating in the action.

Hamak told investors on Wednesday that they had bought 20 Bitcoin with an average price of £ 88,569, marking ‘the first robbery to digital asset investment’. The company, instead is focused on the Liberian gold mine, said the step ‘reflects a proactive approach to the creation of value and optimization of balance sheet’. Hamak launched the strategy earlier this year after the leadership reshuffle, with a promise to offer exposure to investors to gold and bitcoin under a transparent single structure ‘.

Recently he saw shares soaring after pointing to the famous US economist, Dr. Arthur B. Laffer, a member of the advisory council. Laffer said in a comment on Wednesday: “I am very happy with the direction of Hamak Gold to, and I am proud to have been invited to join the first class team and to be actively involved in helping to facilitate the growth of Hamak in any way I can.” This follows a similar step of the metal of Seng Panther miners, which invests up to £ 4 million in Bitcoin as a guarantee for funding mining acquisitions, and Bluebird mining efforts.

Victoria Scholar, head of investment at Interactive Investor, highlighted the ‘gloomy’ financial results posted by the three companies. He said: ‘Panther Metals and Hamak both reported a full year loss in April while only this week Bluebird Mining announced the loss of the first round of $ 2.6 million, the sharp increase in years-to-year. “It seems that the company has decided to bet on the developing cryptocurrency because they have no much loss.

‘All three, as you expect from small mining companies, lose money. ‘Maintaining new capital is very important so maybe a sexy bitcoin strategy makes it easier to collect cash. And investors seem to enjoy the Bitcoin strategy, because shares in these companies have performed better lately. ‘

Bluebird has seen its stock prices soaring almost 400 percent since launching the strategy, reviving the business after struggling with financial losses, while Panther said it ‘defines what the modern resource company is like’. Hamak shares jumped 13.6 percent to 6.7p at midday on Wednesday after adding almost 980 percent since the beginning of the year. Companies registered in March 2022 and have never generated income, because they are still at the exploration stage. Stockopedia’s stock ranking gives a score of 19/100 as a whole, with 14 for quality and only 8 for value.

And Coatsworth, an investment analyst at AJ Bell, said BTCS believes that having Bitcoin is a way to ‘maintain value and reduce the risk of inflation and geopolitics’. However, he warned, ‘Investors need to be careful in this situation’. Coatsworth said: ‘The reality is that many small hat companies are usually poor in cash, continuing to collect new funds in the market to keep the lights on. “They rarely have cash for rainy days and anything in banks are needed to support business. ‘Prices can often move quickly and down – and assessment has come out of the kilter on the basis of the underlying company.’

Crypto expert Glen Goodman said this was money in early July that he had a ‘initial hunch’ that the emergence of the Bitcoin Treasury company ‘might be the top sign’ for the new Cryptocurrency escape. Bitcoin has increased by around 25 percent since the beginning of the year at $ 117,619.10, after reaching the highest of the time of $ 122,979.87 earlier this month. Goodman said: ‘Because it was successful for the companies. More companies jumped on the band’s train ‘When their shares rose, they issued more equity, so they weaken the price of existing stock stocks, to buy more bitcoin for their treasury. ‘And then Bitcoin attracts new investors who push the stock price higher – and then they issue more equity. “You can see where it is going.”