Fernhill Corp (OTCMKTS:FERN) shot up to end the week and it has certainly caught investors attention. This penny miner is coasting with a big day up more than 75%. The catalyst for FERN has to do with a large purchase order- $400k – the company received a backup power grid from a bitcoin mining operation.
The initial presented purchase order will consist of 10 units with a budgeted cost of $40K USDper unit. These units will be designed and built utilizing the Fernhill solar and battery storage systems.
Fernhill Corp (OTCMKTS:FERN) bills itself as a company that acquires, explores and develops mineral projects in North America. The company explores for gold, silver, and copper ores. It holds an interest in the Silver Bell Mine property located on the south shore of Horne Lake.
FERN was formerly known as Global Gold Corporation and changed its name to Fernhill Corporation in January 2012. Fernhill Corporation was founded in 1997 and is based in Wilmington, Delaware.
According to company materials, “Fernhill Corporation is a holding company focused in the energy and technology sector. Incorporated in Nevada with operations in North America, Fernhill Corporation is focused on acquisitions and or partnerships in energy based sector businesses.”
Find out when $FERN reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
CEO Adam Kovacevic states, “We are thrilled to receive this initial purchase order from UK based Totally Sun Powered Limited. We will immediately begin designing a turnkey battery backup and power generation solution that can be integrated into hardware currently dedicated for bitcoin mining operations. This purchase order will mark our entry into the bitcoin mining server space where we believe that there is a growing demand for these types off-grid power requirements.”
“We want to position ourselves as a leader in providing services and solutions for the backup power requirements in bitcoin mining operations. We believe that our backup power storage and generation solutions can crosspollinate into several other emerging markets where advanced off grid backup solutions are needed,” Kovacevic concludes in the press.
In other news, FERN also announced a patent on a lithium hybrid battery energy storage system. Hybrid battery storage systems can allow for greater flexibility to its users in system stability, capacity, and thermal safety. Combining proven technologies, with sophisticated balancing controls can allow for safe and stable power storage. Hybrid battery storage systems can be customized to address a significant array of applications that are difficult to address with one available technology alone. Kovacevic added, “An advanced Hybrid battery system can offer accelerate charging speeds, as well as higher current availability for the most demanding applications. We believe that future development of this technology could prove to have a significant impact on numerous diverse industries
At this time, carrying a capital value in the market of $679k FERN is pre-revenue at this point. This is an exciting story and the company has some exciting patents that could be lucrative in the upcoming year. For continuing coverage on shares of $FERN stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $FERN, either long or short, and we have not been compensated for this article.