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What’s Going On With Urban Television Network?
Urban Television Network (URBT) today announced it is entering the world of digital currency with the launch of its own cryptocurrency mining business through on Nov 1, 2021. Shares of the company were trading 11.04% higher to $0.0362 a share on Monday.
What Does This Mean Urban Television Network?
The Company’s crypto mining will make use of Bitcoin and Ethereum, as well as other well-established cryptocurrencies, cementing the company as one of the leading names in the crypto mining business.
“We are a fast-growing company and in line with our commitment to excellence, we have decided to throw our hat in the ring and begin crypto mining operations beginning primarily with Bitcoin and Ethereum. Today, the digital money market is one of the largest financial markets in the world. Early crypto adopters have reaped a great benefit and we have seen a great opportunity to put our resources into mining for digital currencies because we know the potential it holds for our business and for investors alike. Of course, we know crypto mining business requires highly sophisticated and massive computation and secure stable power supply to operate and cool the computers, which is why we have gone out of our way to ensure no stone is left unturned in providing the necessary resources that will drive this project,” said Joseph Collins, CEO of URBT.
The decision to enter the fast-paced world of crypto is meant to increase revenue, drive growth, and optimize many product offerings, which will begin to be backed by cryptocurrencies.
Urban Television Network Corporation operates a broadcast television network in the United States. It primarily focuses on serving the African-American and Hispanic populations, and other ethnic populations in the urban markets.
URBT has a Short-Term Technical Rank of 19. Find out what this means to you and get the rest of the rankings on URBT!
Urban Television Network Corp is an American telecommunication and entertainment company engaged in broadcasting as an over-the-air television network. It is engaged in creating innovative plans and solutions which offer a diverse range of choices for broadcasting, digital streaming services, and a state-of-the-art movie studio.
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