Tobacco company makes a hard pivot to cryptocurrency mining
Rich Cigars just made the ultimate pivot: from high-end cigars and tobacco products to cryptocurrency.
The Miami-based company announced Thursday it had become Intercontinental Technology, Inc., and was phasing out the cigar part of the business — aka its entire premise.
Instead the company is jumping into two very not tobacco-related industries: patents and "aggressive cryptocurrency mining." And it initially seems to be paying off.
SEE ALSO: Bitcoin is a victim of its own success
With Bitcoin, Ethereum, LiteCoin and other cryptocurrencies rallying like crazy in the past few days this seems like a smart move. Who needs a fancy cigar when there's Bitcoin to be mined at nearly $17,000 per coin? Read more...
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Tobacco company makes a hard pivot to cryptocurrency mining
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Friday, December 15, 2017
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