So someone said they didnt know why Canoe needs Santo...here are the speculative reasons this deal makes sense........
China is kicking miners out and is anti crypto ....so they relocated all their mining equipment elsewhere -hence Canoe Pool going dark for a few months but now back online successfully mining bitcoin daily $$$$$. Why not start a US based subsidiary as well....
Li said a US presence was always planned for Canoe .....
Frank has the US Santo mining shell , has been working in China for many years .... they met somehow ,so it makes sense to sell the shell to Canoe, its supposedly much cheaper to do it that way , the OTC reporting requirements are not as strict and you can pretty much guarantee this will GO THROUGH THE ROOF right off the bat when the merger is announced bringing big $$$ to both parties involved just on the word of the merger being completed and not lifting a finger really ....
I would imagine a US subsidiary would allow an entity to protect its crypto assets from the P.R.O.C. and its anti crypto stance ....move it or lose it ;) . The US may put those funds in a safe harbor so to speak.....
Moving forward I would say Canoes Li , (Bitmain Wu possibly due to links with Li) are truly running the show here within Santo/Canoe US .... they have a ton of cash from coin mining and mining rig sales for many years -so the sky is the limit as far as what they want to do with Santo post merger ....
Everyone is concerned with the OS of Santo - my feeling is its a non issue and the day of the merger there will be an announced stock split wrangling in the share structure,,, this could easily go to $10's of dollars on that day imo ...just look at obscure crypto space stocks that skyrocketed like LFIN, CRCW , RIOT ....AGAIN they werent even affiliated with the quality of a Bitmain or Canoe behind the scenes like we are here ....... skys the limit here...... IF THE DEAL CLOSES .
An amateur investor. Hope everybody makes money here !
