CCNC - Code Chain New Continent Switches From Steam Coal To Bitcoin Mining But Looks Overvalued

• The company has repositioned itself from the supply of steam coal to Bitcoin mining.
• It's buying mining machines for $16.2 million and it mined 17 Bitcoin in its first month of operations.
• However, Code Chain New Continent looks severely overvalued compared to competitors based on price to sales multiples.
• Unfortunately, the short borrow fee rate stands at over 66%, so unless you have very high-risk tolerance, I think it’s best to avoid this one.

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