The latest announcement is out from AirNet Technology ( (ANTE) ).
AirNet Technology Inc. strategically exited its cryptocurrency mining business in March 2024 due to the obsolescence of its Ethereum mining equipment following Ethereum’s transition to Proof of Stake. However, recognizing the potential in the cryptocurrency market, the company reentered the industry in May 2024, focusing on Bitcoin mining. This strategic move was supported by a Hosting Services Agreement with BTC KZ in Kazakhstan and plans to invest in a new facility, positioning AirNet to leverage market opportunities and drive revenue growth.
More about AirNet Technology
AirNet Technology Inc. operates in the technology sector, focusing on in-flight connectivity services. The company diversified into cryptocurrency mining in response to the COVID-19 pandemic’s impact on its core business, initially generating revenue through mining and selling cryptocurrencies.
YTD Price Performance: 15.74%
Average Trading Volume: 2,360,433
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $9.02M
See more insights into ANTE stock on TipRanks’ Stock Analysis page.