Taal Distributed Information Techs Inc (OTCMKTS: TAALF) rose almost 2% yesterday and closed for $4.09. Through the day, it remained within the range of $3.99 – $4.16, which is at the higher side of its overall yearly range of $1.09 – $6.95. Considering its Q1-2021 financial report, the company had booked revenue of $963.99K, down -83.85% from a year before. It had registered a net income of $2.64 million, a jump of 465.21% from the previous year. Its diluted EPS came in at $0.07, surging 240% from the corresponding period in the previous year. The market capitalization of this company is 178.07M CAD. This stock rose yesterday because of its induction into Hut 8 Mining Corp as the hosting partner.
TAAL: The hosting partner to North America’s largest and oldest digital asset mining pioneer
Hut 8 Mining Corp. is accredited for digital asset mining and is among the most established firms in the niche. When the company announced recently that it had signed a hosting partnership with TAAL, the Enterprise Blockchain transaction processor, the investors gave a little nudge to the share price, pushing it upwards.
The company is known for delivering transactional platforms, scalable blockchain infrastructure, and supporting businesses for building solid applications and solutions for the BitcoinSV platform.
Investors elated by the news
Becoming the hosting partner for a huge organization like Hut 8 Mining Corp. has gone down well with the investors who kept the stock in the green zone throughout the day yesterday. The previous close of this stock had been $4.02.
The Vancouver, British Columbia, Canada-based company was founded in the year 2011 and since then has been managing, operating, and building computing systems for the clients.
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