Market News

WISeKey Plans to Invest $10M in Bitcoin Mining

WISeKey International Holding Ltd. (WKEY) has revealed plans to invest about $10 million over a period of two years so that it can perform Bitcoin mining from its Geneva datacenter and a former Swiss military bunker located in the Swiss Alps.

The company provides an integrated security platform for online transactions, thereby authenticating and verifying interactions like non-fungible tokens (NFT) trading. (See Best NFT Stocks on TipRanks)

With this move, WISeKey aims to support clients in defending themselves against illicit cryptocurrency mining activities such as cryptojacking and unlawful installation of crypto mining software on victim devices.

The company plans to conduct mining operations via a Special Purpose vehicle named TrusteCoin AG. Also, it seeks to acquire and install over one thousand bitcoin mining machines at its secure Swiss Alps bunker facilities that will be connected to a control center at WISeKey bunker in Geneva.

Price Target

Recently, Maxim Group analyst Matthew Galinko initiated coverage on WISeKey with a Buy rating and price target of $11 (170.3% upside potential).

The stock has a Moderate Buy consensus rating based on 2 Buys. The average WISeKey price target stands at $11, implying upside potential of 170.3%.

News Sentiment

WISeKey’s news sentiment is Positive based on 7 articles over the past seven days. All the articles have Bullish sentiment, compared to the sector average of 60%, and none have Bearish Sentiment, compared to the sector average of 40%.

Download the mobile app now, available on iOS and Android.

Related News:
Airbnb Payments Enters Settlement with OFAC Over Cuba Sanction Violations
Blackbaud Acquires EVERFI in Cash-Stock Deal Worth $750M
CNH Industrial Completes Demerger with Iveco Group; Shares Rise

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More