Envoy Group Corp (OTCMKTS:ENVV) and BitReturn Shares Continue the Race Higher

By Jermaine Farmer – July 24, 2017  Envoy Group Corp (OTCMKTS:ENVV) is a low-priced, high-momentum name in the blockchain space that has started to engage some major focus among traders and investors as prices scream up the chart. This is one we spotted a bit ago, noting that it looked like a promising runner. ENVV has continued higher following news of the company’s release of the results of a two-week test run with several Graphic Processor Units equivalent to the new cards that will be installed in its BitReturn subsidiary processing facility by the end of July.

 

According to the release, the pilot program allowed BitReturn management to test the cost-effectiveness of its planned new hardware. “On June 27th, Envoy announced the shipment of its first large block of cryptocurrency mining hardware to its BitReturn Tier 3 Datacenter. This new shipment will allow BitReturn to employ over 500 additional advanced GPUs produced by NVIDIA (NVDA).”

 

Envoy Group Corp (OTCMKTS:ENVV) bills itself as a company that, through a division (BitReturn), has first targeted a high positive cash flow method of Mining of Digital Currencies that has been de-risked by employing the most effective Graphic Processor (GPU) technology and BitReturn’s secure Tier3 (T3) facility in Kamloops, B.C. Hundreds of 7 to 13 GPU arrays will be working 24/7 within the climate controlled facility.

 

Mining of Digital Currencies will be constantly directed to which currencies provide maximized profitability. New digital coins drop into the world every 10 minutes and BitReturn will be there to catch them.

 

According to company materials, “Envoy Group, Corp. is a company with an extensive market reach and a strategy to identify, evaluate, and develop new business opportunities across North America, Europe and Asia.”

 

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As noted above, ENVV shares have been on fire, ripping higher as the bitcoin and blockchain mania continues to unfold in the marketplace.

 

“We view our operations much like a gold mine, and this test run is the equivalent of a pre-feasibility study that allows us to stress test the hardware and examine critical operating costs and profitability. The results validated our selection of the hardware and design configuration of our new cryptocurrency mining rigs,” commented Matt deFouw, BitReturn President.

 

According to the company’s latest release, the test program rated the GPUs for operational uptime, performance per watt, and profitability in mining a variety of cryptocurrencies. The results demonstrated that revenue performance by the NVIDIA GPUs was exceptional for the mining of Ethereum, a burgeoning cryptocurrency currently on pace to intersect and potentially outpace Bitcoin’s market cap valuation.

 

This implies a clear impact on revenues. For example, the highlight was a gross revenue increase of 135% over the current GPUs operating at the Datacenter due to an increase in design efficacy and decreased electrical consumption. That speaks to both top line and bottom line impacts, which is clearly one of the main reasons the market is vaulting shares of the stock higher.

 

Harp Sangha, Envoy CEO, affirmed the Management Team’s excitement with the results and indicated that a second significant order is planned after the installation of the current shipment.

 

Recent action has seen better than 230% added to share values of the company over the past month of action. This is emblematic of the stock. ENVV is a stock who’s past is littered with sudden rips. Moreover, the listing has witnessed a pop in interest, as transaction volume levels have recently pushed topping 1200% beyond what we have been seeing over the larger time frame.

 

This should not be overlooked due to the tight float size in the stock (under 24M shares). Traders should not overlook this combination, as a jump in average daily transaction volume in a stock with a restricted float can unleash fireworks as supply is squeezed.

 

Now commanding a market cap of $69.1M, ENVV has virtually no cash on the books, which stands against virtually no total current liabilities. The company is pre-revenue at this point. We will update the story again soon as further details emerge. For continuing coverage on shares of $ENVV stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

 

Disclosure: we hold no position in $ENVV, either long or short, and we have not been compensated for this article.