United Dogecoin Secures Miners, Renewable Power at $0.064/kWh; Operations Expected in 60 Days
SHPH is trading near its 52-week low of $2.9 (4.5% above the low) on light trading volume (0.2× avg).
Summary
Shuttle Pharmaceuticals' subsidiary, United Dogecoin, has purchased ElphaPex DG1+ miners and secured a renewable hydroelectric power site at a competitive rate of $0.064 per kilowatt-hour. This follows the company's strategic pivot to Dogecoin mining, which was completed in early May, and provides more specific operational details than the June 30th 8-K filing. This is a critical step in executing the company's new core business model, with the specific miner details, competitive energy cost, and clear operational timeline being crucial for assessing potential profitability. The miners are expected to be fully operational within approximately 60 days, which will be a key milestone to watch for initial results.
At the time of this announcement, SHPH was trading at $3.03 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $2.1M. The 52-week trading range was $2.90 to $55.90. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.