Envoy Group Corp (OTCMKTS:ENVV) is trading up today and seeing strong volume. The movement is riding the merger news that it has acquired a company that is working on unique blockchain applications. Here is a juicy quote from that important press below.
“This initial entry into currency mining operations marks a strategic milestone for Envoy. The technical expertise of our team complements our corporate finance and strategic planning team,” commented Harp Sangha, CEO of Envoy. “We expect this enterprise will produce positive cash flow early in its rollout that will facilitate our expansion into Phase 2 of the program which will rapidly build revenues and margin.”
Envoy Group Corp (OTCMKTS:ENVV) bills itself as a company that, through a division (BitReturn), has first targeted a high positive cash flow method of Mining of Digital Currencies that has been de-risked by employing the most effective Graphic Processor (GPU) technology and BitReturn’s secure Tier3 (T3) facility in Kamloops, B.C. Hundreds of 7 to 13 GPU arrays will be working 24/7 within the climate controlled facility.
According to company materials, “Envoy Group, Corp. is a company with an extensive market reach and a strategy to identify, evaluate, and develop new business opportunities across North America, Europe and Asia.”
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BitReturn, located in British Columbia, Canada, is an advanced technology company with a focus on developing powerful Blockchain applications to streamline and transform existing industries. The BitReturn team has more than 20 years of experience in pioneering business applications development, most recently with its build of a robust and secure platform for Bignition which was sold to AutoTrader.ca.
Mining of Digital Currencies will be constantly directed to which currencies provide maximized profitability. New digital coins drop into the world every 10 minutes and BitReturn will be there to catch them.
Envoy Group Corp (OTCMKTS:ENVV) is up 12% today and seems totally married to the future of bitcoin. If management does not flood the market with shares, the company could bring some value to this sector. That said, there is still risk because these blockchain applications still need to take off. ENVV is carrying a $53.95M market cap with 83M shares outstanding. We will be watching carefully for its next step. For continuing coverage on shares of $ENVV stock, as well as our other breakout stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $ENVV, either long or short, and we have not been compensated for this article.