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INDUSTRIAL HEMP

Kona Gold Solutions Inc (OTCMKTS:KGKG) To Pursue Cryptocurrency Mining

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Kona Gold Solutions Inc (OTCMKTS:KGKG) reported its plan to diversify by establishing a new, wholly owned know-how focused subsidiary unit, Bithive Mining, LLC, to dedicatedly pursue cryptocurrency mining of Bitcoin as well as other cryptocurrencies. Bithive will have committed personnel and this new measure will have no impact on company’s primary operations in the functional beverage segment. The firm will bring its preliminary cryptocurrency mining rigs online in Q1 2018, which will work on a 24/7 basis.

The details

Robert Clark, the CEO of Kona Gold, expressed that the world is presently witnessing two buzzing markets taking place in the cryptocurrency and hemp markets and they are thrilled to report the firm will be a participant in both. He has been engaged in cryptocurrency market since 2011, the initial days of Bitcoin, and after talking with their advisors and team, they have made the strategic choice to create a subsidiary purely focused on cryptocurrency mining.

Clark added that they will be working with professionals in the field to establish committed mining rigs, with their first coming online in Q1 2018. Their objective is to have a ROI within next couple of months and profit hence from mining numerous different cryptocurrencies. In the imminent months, they will be making updates pertaining to their cryptocurrency initiative.

In the last trading session, the stock price of Kona Gold gained 6% to close the day at $0.0159. The gains came at a share volume of 8.38 million compared to average share volume of 4.41 million. Post the recent decline, the market cap of firm was noted at $7.7 million. Despite the strong gains in the last session, the stock is trading over 22% down in this month. It remains to be seen if the stock can continue with its gain and make up for the decline posted in last week.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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