Lightinthebox Holding Co Ltd (NYSE: LITB) shares rose slightly Thursday after the company reported that it has established an experimental cryptocurrency mining operation in North America.
The Beijing-headquartered firm said its experimental cryptocurrency mining operation is composed of a group of powerful GPU-based specialized computers that participate in a decentralized cryptocurrency system.
The computers compute algorithmic results to support the system and in turn earn yields overtime, in the form of the corresponding cryptocurrency.
LightInTheBox established the experimental mining operation in a strategically selected North American region with an ample and economical supply of renewable energy.
CEO Alan Guo, commented, "The establishment of our experimental cryptocurrency mining operation in North America is a step forward in our strategy to understand and explore blockchain related technologies and their various real-world applications. This operation will allow us to gain further first-hand experience in better understating the cryptocurrency ecosystem and their underlying new technologies."
February brought word that LITB launched a "Cloud Fitting Room" service to allow customers in the United States to try on wedding gowns and bridesmaid dresses at home.
Leveraging the Company's self-operated fulfillment center in the United States, LightInTheBox will ship up to three wedding gowns or bridesmaid dresses at a time to customers across the United States and allow them to try them on at home and mail back before they make their final purchase of a made-to-order customized dress.
Shares in the company neared the end of Thursday’s trading up five cents, or 2%, to $2.55.
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