A former iced tea and lemonade company, Long Island Iced Tea, invests in Bitcoin mining machinery. This move comes after the company saw its stock price jump 500% following a name change to Long Blockchain. The company changed its name two weeks ago by capitalizing on the euphoria of Blockchain sweeping the globe.

The company announced that it would offer 1.6 million shares at $ 5.25 per share, hoping to reap $ 8.4 million. The company press release indicated that the sale of shares would allow the company to embark on Bitcoin mining activity.

"The Cryptocurrency mining equipment is expected to be delivered in January 2018 for immediate deployment in the Nordic Data Center.This mining equipment is manufactured by Bitmain Accord with some third parties for the purchase 1,000 S9 mining platforms and 1,000 PSU ++ APW3 ++. "

Euphoria?

Other companies have also experienced massive stockpiles For example, Longfin, a small market capitalization, has recently exploded in value – up more than 1,300% – after announcing that it's not a big deal. she would buy a defunct cryptocurrency.

Other industry experts agree that euphoria is hitting the industry, although they see the potential for real-life cases. Blockchain use to continue to gain momentum. Dominik Schiener Co-Founder of IOTA told Cointointraph: