This is true that FWAV is closely linked to the price of BTC but far less than most miners since they have a really low production cost about $5 /BTC.
But the far bigger deal is the completion of the Edgemode merger with new name, management, trading symbol and an already exceptional reputation as a serious crypto team and they get $4.3 million from FWAV at closing.
It that happens ( it’s all still in LOI not closed) especially if they announce additional larger capital raise plans and NASDAQ listing application with all the other news I believe that’s worth a $2 a share and if they really do get 600 MW of energy working in 2022 it could be 10x that. Or higher. Miners trade for billions routinely—it’s considered a smart way to play crypto—and this looks like a real serious miner.
And remember this company will have an average share count of about 300 million post merger but the float is really tight.
FWAV only had 47 million shares and that’s all that can trade. Lots of that is closely held and in long term hands.
If this stock gets discovered by traders watch out! It could be fun. And I’d bet they’re going to do a big IR campaign
here after they close. ( If they do)
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