The News is very Positive for the Shares.
LOTM considers both MKTY and Galaxy Digital long-term buys, subject to opportunistic buy-in prices and your trading, investment, or speculative objective goals.
Galaxy Digital announced that:
- They are launching their own Bitcoin Trust/ETF. The stock is up 18% on the news trading at $30.50. This is great news, building on its rank as an industry leader in Blockchain and Crypto Industry.
MKTY had two significant news announcements.
- First from its MTI Instrument’s division. They are now, best in the world and have the lowest cost for its Accumeasure HD system technology. It has been proven to measure distances as small as 69 picometers, setting a new bar for capacitance systems. Great news for its MTI Instruments division. Speaks to the world class quality of its product and people.
- Second, MKTY’s EcoChain Mining / Blockchain division announced, immediate expansion of this Crypto mining business and reiterated that its capicity by year-end 2021, would increase 10-fold from 5MW to 50MW. The stock did not react. Our feeling is great – this gives us an opportunity to buy back-in on the price correction. The shares have been hot rallying from $0.75 in August 2020 to above $18 in March and is now trading at $9.30.
NEWS: MECHANICAL TECH (MKTY)* $9.25
I: EcoChain, Inc. Adds Immediate Capacity, Reiterates 50MW 2021 Target.
8:30 AM ET 4/12/21 | Dow Jones
ALBANY, N.Y., April 12, 2021 /PRNewswire/ — EcoChain, Inc. (“EcoChain”), a wholly owned subsidiary of Mechanical Technology, Incorporated (“MTI” or the “Company”), (NASDAQ: MKTY), a cryptocurrency mining business powered by renewable energy, today announced the acquisition of approximately 11.2 Petahash in SHA-256 Bitcoin miners and 235 Gigahash in Scrypt Litecoin miners for use by the Company and EcoChain in connection with the planned growth of MTI’s cryptocurrency mining business.
— As of the close of business today, this capacity will be on-line and operational.
— Consideration paid was $545 thousand in cash and approximately $210 thousand in common shares, for a total purchase price of $755 thousand.
— The negotiated power cost is $.023 per kWh for 83% uptime.
“We believe that this transaction is highly advantageous and will help to drive our return on invested capital. This purchase provides EcoChain with the equipment required to support MTI’s planned expansion of its cryptocurrency mining business. Based on our development pipeline, we remain confident that by the end of 2021 we will have approximately 50MW of high ROI, green, ultra-low-cost capacity,” said Michael Toporek, CEO of MTI.
About EcoChain, Inc.
EcoChain, Inc., a wholly owned subsidiary of Mechanical Technology, Incorporated, is engaged in developing and operating ultra-low-cost green data centers focused on cryptocurrency mining. For more information about EcoChain, please visit www.ecochainmining.com.
II: MTI Instruments’ Accumeasure HD System Proven to Be Highest Resolution Capacitance System in the World
ALBANY, N.Y., April 9, 2021 /PRNewswire/ — MTI Instruments, Inc.
(“MTI Instruments”), a wholly owned subsidiary of Mechanical Technology, Incorporated, (NASDAQ: MKTY), announced today that its Accumeasure HD system technology has been proven to measure distances as small
as 69 picometers, setting a new bar for capacitance systems.
“This is a game changer for semiconductor and telescope manufacturers, aerospace research and development professionals, seismologists and others who depend on precise thermal-displacement measurements,” said Moshe Binyamin, President of MTI Instruments. “Our Accumeasure HD system is not only the most advanced capacitance system, but it also stands up to more costly laser interferometers, which until now had been the industry standard for achieving this level of accuracy.”
NEWS: Galaxy Digital (BRPHF)* $26.35
III: Galaxy Digital submits Bitcoin ETF application with SEC
According to the form S-1 published by the SEC on Monday, the Galaxy Bitcoin ETF — if approved — will trade on the NYSE Arca exchange, with the Bloomberg Galaxy Bitcoin index tapped as the pricing mechanism.
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