The past few weeks have seen multiple stocks moving sharply on blockchain-related news, a trend that continued Friday.
Yum! Brands, Inc., (NYSE: YUM), operator of fast food franchises Taco Bell, KFC, WingStreet and Pizza Hut, rose 1.54 after KFC Canada launched “Bitcoin Bucket”, for which the company will be accepting bitcoin as payment. KFC announced the tongue-in-cheek initiative through social media, tweeting “KFC Canada presents The #Bitcoin Bucket. Sure, we don’t know exactly what Bitcoins are, or how they work, but that shouldn’t come between you and some finger lickin’ good chicken”.
Bitcoin Bucket, which will consist of 10 chicken tenders, waffle fries and a medium side, will be available for a limited time and only for delivery through KFC’s website.
Marathon Patent Group Inc (NASDAQ: MARA) spiked 11.98 percent after it was announced that its subsidiary, Global Bit Ventures, acquired 1,300 cryptocurrency mining machines. Marathon CEO Merrick Okamoto said of the transaction, “We are pleased that GBV has now acquired the anticipated 1,300 new S9s. The addition of 14 Ph/s of ASIC mining capacity, in combination with our anticipated merger, sets the stage for rapid revenue acceleration in the years ahead.”
Cleantech Solutions International, Inc. (NASDAQ: SEII), which has experienced volatility throughout this week, announced it would be entering a partnership with Shanghai Ganqu Network Technologies Limited in order to develop a blockchain-powered sharing economy platform.
It was rumored that Shanghai-based online game developer, The9 Limited (ADR) (NASDAQ: NCTY), has been looking to develop a blockchain and digital currency. The speculation resulted in heavy volatility throughout the week, with an 18 percent pre-market spike Friday. Shares eventually closing down 8.1 percent to $1.01.
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