Vortex Brands Co. (OTCMKTS:VTXB) was up 11% after announcing its first full month mining operations results for October 2021. The company mined an aggregate of 0.23905427 bitcoins averaging 0.007711428 bitcoins per day.
Market Reaction
On Monday, VTXB stock went up 11% at $0.0117 with more than 1.26 million shares, compared to its average volume of 1.73 million shares. The stock has moved within a range of $0.0104 – 0.0138 after opening the trade at $0.0123.
Publishes October 2021 Results and Benefits from “HODL”
Interestingly in October, the only BTC outflow was related to mining expenses like electricity, and Vortex reported a net of 0.18443169 bitcoins after expenses in October. The company is committed to holding BTC in the long term to bolster its balance sheet and offer more shareholder value.
The October results are an example of the significance of holding BTCas BTC mined in October saw value appreciate by $641.59, equivalent to extra 1.38 mining days. Vortex commenced mining on September 21, 2021.
Currently, its mining capacity is 1,400 terahash (TH/s 0WITH ANOTHER 300 TH/s expected to be online in the coming months. Going by current production levels, the company expects Q3 results to account for around 0.5 BTC with gross revenues of $34,000. So, in the coming weeks, VTXB is worth watching.
