Over the years in the stock market we all remember which products created huge booms — the .com era, internet bubble stocks, and marijuana stocks. Well, now we have crossed into a brand new era — Cryptocurrency and Bitcoin.
Today, we dig into one of the biggest Bitcoin mergers we have ever seen on the OTC and the price is only at $0.0012. The company we’ll be digging into is Santos Mining Corp. (SANP). Santos as agreed and signed an LOI with Canoe-Pool, a bitcoin mining company in China.
See the Santos-Canoe Pool LOI here.
See the OTC Markets Filing with both signatures here.
Above, at OTCmarkets.com, you see a link to the press release provided to us by Canoe Pool themselves.
Canoe Pool CEO Li Ang states, “The U.S. market presents a tremendous opportunity for us to grow into a Bitcoin mining powerhouse. We’re currently experiencing a U.S. led paradigm shift in acceptance of crypto currency markets through regulation. This is good news to the mining community in China looking to expand overseas. We are still facing great uncertainties at home about the future of digital currencies. Mining is not immune to it, Through our partnership with Podwerks we feel confident we can begin building our first mining pods by the end of the year. We look forward to working together and generate more profits for our shareholder. After all, we will soon be a publicly traded company.”
Check out the Canoe Pool Mining Stats for yourself here.
The link above shows how much bitcoin Canoe Pool mines each day. To make reading purposes easier I have created a valuation, Canoe Pool currently mines around 137.2 BTC per week. Take 137.2 BTC x $4,600 (current price of BTC) you get $631,120. Then, take $631,120 x 52 (weeks in a year) = $32,818,240. That is a rough valuation based on current mining, but that’s due for an increase as Canoe Pool intends to add more Bitmain S9 mining machines — they currently own 50,000. In addition to all of this, Canoe Pool currently supports Bitcoin Unlimited and represents 1.7% of the global crypto currency mining market share. Below will be a video that Bloomberg did with Bitmain.
Canoe Pool chose Santos Mining ($SANP) because they have very similar products and with just a few tweaks Podwerks can be transformed into a solar Bitcoin mining pod.
In conclusion, Santos Mining Corp ($SANP) is severely undervalued at the moment. With what Canoe Pool is bringing to the table, $SANP should be due for a SERIOUS price correction in the near future. The time is now to enter into Bitcoin merger plays and this is one of the biggest ones on the market for easily the cheapest price.
OwnTheFloat.com Editor Note: With any merger and reverse merger, you should know that a reverse split is always possible. It doesn’t always have to be a bad thing either. In the OTC, most people sell off after “losing” so many shares, but in theory… The market value should adjust accordingly and given the new opportunity — a run is still possible. Still, as always, invest/trade at your own risk.