Why Bitcoin- And Ethereum-Related Stock Future Fintech Is Rising

Future Fintech Group Inc FTFT shares are trading higher after the company announced plans to build a U.S. crypto mining farm. The company said the total investment is estimated to be $62 million.

Shanchun Huang, Chief Executive Officer of Future FinTech, said, "We are actively planning and developing a global expansion strategy for our cryptocurrency mining business. Our strategic plan for this business is to develop cryptocurrency mining farms with relatively low start-up costs and economical sustainable energy in different regions of the world, and accelerate their deployment using our capabilities or through cooperation agreements with very strong partners. We believe that our cooperation agreement with APC to build a cryptocurrency farm in Ohio will be very positive for both parties." 

Future FinTech engages in the operation of a blockchain-based online shared shopping mall platform and also operates an incubator for application projects using blockchain technology. Future FinTech and its subsidiaries are developing blockchain technology for a variety of B2B and B2C real-life applications.

Future Fintech has a 52-week high of $11.29 and a 52-week low of $0.98.