This Mining Company Soared 159% After Saying It’s Buying a Crypto Firm
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Israel’s Natural Resources Holdings Ltd. is the latest company to benefit from blockchain stock magic as it shifts from from digging for minerals to mining digital currencies.
Shares of the company, which invests in metals mines located mostly in North America, rallied 159 percent to 25.40 shekels ($7.27) in Tel Aviv Monday after disclosing to regulators Sunday it is about to acquire a 75 percent stake in Canadian cryptocurrency mining operation Backbone Hosting Solutions Inc., also known as Bitfarms.