Canaan Stock Goes Parabolic as Bitfrac Presale Gains Momentum

Due to the overarching sentiment around crypto shifting rapidly, Canaan, a prominent crypto mining stock, has been in the news again. 

In its reporting of third-quarter earnings before today, it was noted that the company’s stock has skyrocketed, as evidenced by it registering over 104% year-to-year growth.

Bitcoin Struggling, But Mining Stocks are Up

Canaan’s surge has been surprising for the cryptocurrency market due to the prevailing sentiment around cryptocurrencies. At the time of writing, the Bitcoin price has barely been able to find support above $90K. However, Canaan’s gross profit of over $16.6 million for this quarter has been grabbing attention.

According to Nasdaq, a major portion of the profit has come from the company selling crypto miners, and the other part is from its Bitcoin mining operation. The company also revealed that Canaan’s Bitcoin mining revenue has surged by over 240% since last year.

Source: NASDAQ

This dissonance between two market sections: Bitcoin trading and mining, shows that the market for mining solutions is rising, which may provide a good time to invest in projects that facilitate it.

Bitfrac: Providing a Robust Decentralized Mining Ecosystem

Cryptocurrency mining has been gaining traction lately, but the form it has is currently very centralized. On the contrary, the niche was always supposed to be democratized. 

But it soon became a measure of wealth as heavy equipment was (and is) always needed to make significant gains. Halving events and equipment becoming obsolete each cycle has further made mining a “hegemonic” trade, leaving small miners looking for other options.

Encapsulating the true air of democracy around the project is Bitfrac. The project has been gaining attention thanks to its fragmented, decentralized cloud mining ecosystem that might as well be one of the best on the market.

The mining rigs are to be maintained by the developers, leaving the investors only to invest and earn from them. Just investing $100 turns people into partial owners of this ecosystem, which is a stylish way to make the mining ecosystem even more versatile.

That is one of the reasons Bitfrac has continued to gain momentum and has raised over $5 million so far. But the fact that it is providing even more value to presale buyers is the reason to support the project.

Offering More Value to Presale Investors

The main hope people have when they dive into a presale is to make gains through listing and through incrementing presale stages that offer multi-level gains even before the listing happens. These aspects are a staple part of the Bitfrac presale. 

But the key divergence that this fragmented mining project makes from the masses is that it provides over 40% additional bonus tokens.

Accessible by entering the main code BFT40, this bonus further enhances investors’ potential gains. According to the platform, investors could receive a minimum ROI of over 400% when the project goes live.

Factors That Could Help Bitfrac Provide 4X ROI to investors

The core utility of Bitfrac is enticing enough. However, the reasons many expect it to deliver 4x gains upon launch are as follows:

Delivery During Presale

Bitfrac has proven its mettle as a mining ecosystem while the presale is underway. Evidence of that is the recent announcement that revealed that the developers have distributed $1.2 million in mining rewards alone. It makes Bitfrac a project that focuses on an already established ecosystem, which adds credibility to it.

Dual Income Economy

Much like Canaan, whose profits have come from selling mining equipment and its Bitcoin mining operation, Bitfrac also features a dual income economy. The only difference is that instead of selling miners, it will lease them to enterprises looking for remote computing solutions. This sets Bitfrac on a stage from which it could gain massive success in the long term.

Audited by Solidproof

Adding more credibility to the project is the fact that it has received auditing by Solidproof. It shows that the project’s smart contract is fair and is designed to provide users a strong ecosystem to interact with. This is a simple approval, but nevertheless very important.

Giveaways for Engagement

Bitfrac has also established its value as a strong ecosystem that believes in giveaways. One such event has already happened, and there is hope that similar events will also be organized in the future, which further adds to Bitfrac’s value.

Final Thoughts

Canaan’s rising momentum stands as evidence that Bitfrac’s presale has been gaining traction for all the right reasons. The project is strong, features a dual economy, and has created a positive, utility-centric vibe at a time when it is much needed. As a result, it could be said that the project has explosive potential, following the same trajectory as Canaan.