As indicated by a documenting with the Securities Exchange Commission on Jan. 5, Long Blockchain Corp, the traded on an open market organization that was rebranded from Long Island Iced Tea, is obtaining 1,000 units of AntMiner S9 fabricated by the China-based Bitmain.
This move came a long time after the firm declared its business turn, which caused its stock cost at the U.S. trade NASDAQ to surge almost 200 percent. Comparable patterns in showcase rapture were additionally observed for other open stocks that reported business procedure movements to regions identified with blockchain.
In a public statement, Long Blockchain said the mining offices would be situated in a Nordic nation, without determining which one. Be that as it may, the understanding incorporated into the SEC recording incorporates an indication: It expresses that the merchant will advise the buyer when the items touch base in Iceland.
Further, the price tag will be $4.2 million, which incorporates $2.9 million money and in addition an issuance of 260,000 offers of Long Blockchain's basic stock. It isn't clear from the documenting whether Long Blockchain is purchasing the hardware specifically from Bitmain or from an outsider.
As indicated by the record, this buy is booked to near to Jan. 31 just if Long Blockchain Corp. can get the required financing before that.
All things considered, Long Blockchain reported in a similar archive it is issuing extra 1.6 million offers of regular stock at an open offering cost of $5.25 per share, intending to bring roughly $7.7 million up in net continues.
Philip Thomas, CEO of Long Blockchain Corp. said in the declaration:
"We see this exchange as an essential and approving starting advance in the Company's movement into blockchain innovation. The initiation of our mining operations places us on a way to creating blockchain-related income through the aggregation of bitcoin."