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Lemonade making company bought Bitcoin miners

The former frozen tea and lemonade production company Long Island Iced Tea is investing in Bitcoin mining equipment.

06.Jan.18 1:41 PM
By Daria Zaytseva


Lemonade making company bought Bitcoin miners
This step occurs after the company watched its stock price jump by 500% after changing its name to Long Blockchain. The company changed the name two weeks ago, using the euphoria of Blockchain, which sweeping the globe.

The company has announced that it will offer 1.6 million shares at a price of $5.25 per share, in hopes of attracting $8.4 million. The press release of the company said that the sale of shares would allow the company to move into the Bitcoin mining business.

Other companies have also seen a significant increase in share prices to relatively impressive news related to cryptocurrencies. For example, Longfin, a small capitalization stock, recently exploded value - rising more than 1,300 percent - after announcing that it would buy a non-existent cryptocurrency.

Other industry experts agree that euphoria is gripping the industry, although they see the potential for real cases of using Blockchain to continue to gain momentum.

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