This Wednesday, the world's second-largest cryptocurrency (Ethereum) is expected to undergo a major overhaul, dubbed "the Merge." It'll be a complete overhaul of Ethereum's mechanics. It is being described as a transformative moment for all things crypto. Clearly, this could bring more excitement to the entire crypto space. My Uber driver's nonstop monologue about how this could trigger the next upside run was clear evidence of that. But at the same time... It could also make a handful of companies irrelevant and obsolete. Specifically, it could damage companies that have spent hundreds of millions on crypto-mining hardware, which might soon be worthless. Two such companies are Hut 8 Mining (TSX: HUT) and Hive Blockchain Technologies (TSX-V: HIVE). Hut is a cryptocurrency mining company in North America. Hive is a cryptocurrency mining company with operations in Canada, Sweden and Iceland. Hive engages in the mining and sale of digital currencies, including Ethereum. YOUR ACTION PLAN Both Hut 8 Mining (TSX: HUT) and Hive Blockchain Technologies (TSX-V: HIVE) have already said that the move on September 15 will make their mining businesses "less competitive." If you know Karim and me, then you know we've been skeptical of the entire crypto run. Although both companies are low-priced, you could soon have an opportunity to play them down to zero. If you want to follow more trade ideas like this in real time, come join us in The War Room. Right now, we're guaranteeing all members will receive 322 winning trades in their first 12 months of membership. Click here to start unlocking our trades. |
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