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The crypto space is rocking today. Investors appear to be extremely enthusiastic about today’s Coinbase (NASDAQ:COIN) direct listing. Accordingly, investors in Coin Citadel (OTCMKTS:CCTL) and CCTL stock are seeing some impressive gains today.
Source: Shutterstock
How impressive?
Well, at the time of writing, CCTL shares are up more than 65%. That’s not bad for one-day returns.
Accordingly, companies like Coin Citadel with high leverage to cryptocurrency prices are rocketing higher on anticipation of another leg up. As a blockchain player and crypto miner, Coin Citadel provides investors to more upside to token prices than buying the underlying digital assets.
In today’s speculative environment, this sort of investment is highly sought-after.
Let’s take a look at what Coin Citadel does, for the investor who may not have come across CCTL stock previously.
What Investors Need to Know About CCTL Stock
Given the amount of interest in crypto mining and decentralized exchanges today, Coin Citadel has been in the spotlight. Here’s a few things investors should know about this company.
- Coin Citadel “uses [its] mining power and nodes to promote numerous Decentralized Networks, more recently described as Generalized mining, also called mining 2.0.”
- The company’s operations span two key segments.
- First, Coin Citadel is a mining operation. This business was started in 2018 and exists in Plattsburgh, New York.
- The company notes Plattsburgh has some of the cheapest electricity costs in the U.S. Accordingly, mining investors like the potential of higher long-term mining margins with this company.
- Second, Coin Citadel offers data center solutions based on its blockchain infrastructure. The company now offers “scalable solutions for Banks and other Wall Street Financial Service Firms who are in the midst of an IT revolution.”
- Via tweets, the company has noted a number of new installations of mining rigs. This has spurred heightened growth expectations for this stock.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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