URBT (OTC PINK: URBT) has Earned Its First Dollar ($1) in Crypto Mining

Rhea-AI Summary

Urban TV Network Corp (OTC PINK:URBT) is expanding into cryptocurrency mining, having earned its first dollar during the proof-of-concept stage. The company plans to invest in approximately 200 high-powered computer systems to boost mining operations. Concerned about environmental impacts, URBT aims to use renewable energy sources for its mining activities. Leader of the crypto team, Kimberly Douglas, emphasizes the importance of decentralized finance. CEO Joseph Collins expresses confidence in the company's new direction amidst a recovering crypto market.

Positive

• URBT has successfully mined its first dollar during the proof-of-concept stage.
• The company plans to invest in around 200 high-powered computer systems for mining operations.
• URBT aims to minimize environmental impact by utilizing renewable energy sources for its mining activities.
• The leadership of Kimberly Douglas, an advocate for cryptocurrency, may enhance project credibility.
• CEO Joseph Collins shows confidence in the future performance of URBT in the crypto space.

Negative

• None.

LOS ANGELES, CA / ACCESSWIRE / August 19, 2021 / Urban TV Network Corp (OTC PINK:URBT) makes a headway into the digital money markets. The world woke up to the headline that the giant URBT now eyes launching its cryptocurrency mining business. The company celebrates as it has mined its first dollar ($1) during the proof-of-concept stage.

With the shift towards cryptocurrency and after a partial successful rebound by Bitcoin and Ethereum, there is a silver lining. URBT is planning a heavy investment of about 200 high powered computer systems that would kick start its proposed major mining operations. URBT is not making empty promises. The mining operation is in the proof-of-concept stage. With test computers running, URBT has earned its first dollar.

URBT is also concerned about the environmental costs of its crypto-mining venture. The mining machines will be obtained from a reliable manufacturer and will be designed to have minimum environmental impact. The aim is to set the crypto mining operation in a remote area. URBT intends to power its operations with clean, reliable and renewable energy sources.

The sensational news regarding the entertainment giant's crypto operations is its signing Kimberly Douglas who is leading the crypto team. Ms. Douglas has been an active advocate of the large-scale use of cryptocurrency. Kimberly is excited about the fact that crypto means digital freedom. She recognized and paid a tribute to the brilliance and the financial freedom that a decentralized system such as crypto can bring.

Strategic changes are set to take place as URBT enters the crypto-mining space. The year 2021 started with a low for crypto. But by the month of august, the combined value of crypto currencies operating in the world has hit $2 trillion dollars. Tesla had a part to play in the decreased worth of crypto when it refused payments in Bitcoin. But now the digital currency has come out of shock and it's gaining momentum.

CEO of URBT, Joseph Collins said, "Our investors can be excited about the direction our company is taking as we enter into the crypto mining space. We see that a financial revolution is taking place and is transforming every sector of the economy, and we must be part of that." He further said, "The current value of the cryptocurrency market is larger than top companies Facebook, Amazon and Tesla." On a question about the increase in the stock price of URBT, he said, "I am confident that the performance of our stock right is a proof that we are making the right decisions."

For interviews call 323-489-8119 or visit https://urbt.com

SAFE HARBOR

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations.

SOURCE: Urban Television Network

View source version on accesswire.com:
https://www.accesswire.com/660476/URBT-OTC-PINK-URBT-has-Earned-Its-First-Dollar-1-in-Crypto-Mining

FAQ

What recent developments has URBT made in cryptocurrency mining?

URBT has entered the cryptocurrency mining market, earning its first dollar during the proof-of-concept stage and plans to invest in 200 high-powered computer systems.

Who is leading the cryptocurrency team at URBT?

Kimberly Douglas is leading the cryptocurrency team at URBT and has a strong advocacy for cryptocurrency.

What are URBT's plans regarding environmental impact in crypto mining?

URBT intends to minimize environmental impact by using renewable energy sources for its mining operations.

How is URBT's stock performance related to its new cryptocurrency initiatives?

CEO Joseph Collins believes that URBT's stock performance reflects the company's positive decisions as it enters the crypto mining space.

What is the current status of the cryptocurrency market mentioned in the URBT press release?

The combined value of cryptocurrencies has reached $2 trillion, indicating a recovery and growth in the market.