Powerbridge Technologies Co., Ltd. (PBTS) stock plunged 16.13% in the after-market trading session at the price of $0.78 despite no fundamental updates.
Powerbridge Technologies is a growth-driven technology firm centered on Blockchain applications and SaaS solutions. Powerbridge Blockchain consists of ETH and BTC mining and digital assets, industry-specific Blockchain applications, and IPFS distributed network services.
PBTS Launched Powerstream Supply Chain
On 20th December 2021, PBTS reported that it had founded a new wholly-owned subsidiary, Powerstream Supply Chain Co., Ltd. Powerstream had launched to target growth opportunities in the retail sector, e-commerce, supply chain, and new media. This forum integrates offline and online sales and supply chains into a dynamic retail world.
Powerstream is designing a technology-driven supply chain financing platform by employing blockchain and data, involving new media, enhanced retail, and live streaming s-commerce. This platform solidifies the industry value chain and facilitates the real-time sharing of information and resources among the varying parties in the supply chain. It also enhances the efficacy of capital turnover by utilizing an ingenious closed-loop capital service model.
President of PBTS, Stewart Lor, remarked that they unveil new prospects in the retail sector by expanding the merchandise range and improving the consumption experience with blockchain. Powerstream is devised with cutting-edge technology to help integrate resources, enhance the value chain of goods, boost revenue growth, and improve operational efficiency.
Stewart Lor added that their recent victory in Suddenly a Week is a great practice to integrate blockchain, big data, and fintech services in the retail sector. They are passionate about the prospects of their Powerstream. They expect its revenue contribution to cross $100 million in the next two years. They will keep inventing more creative business models with high returns and better growth potential.
PBTS Expanded Cryptocurrency Mining Operations
On 16th December 2021, PBTS disclosed that Powercrypto Holdings, its wholly-owned subsidiary, intended to extend its crypto-mining business into North America. Stewart Lor stated that this decision is a significant milestone for their efforts in promoting the crypto business. They are delighted to get positioned in Canada as well.