Shares in Macro Energy Limited (ASX:MEJ) soared yesterday after the resources-focused investment fund revealed a proposed restructure, new name and completion of a $9.1 million capital raising.
Exiting out of a trading halt Macro Energy told the market it plans to enter the digital currency sector through the acquisition of a Bitcoin mining and trading company called digitalBTC.
Macro Energy has also proposed changing its name to DigitalCC Limited and says it will be the first digital currency focused company listed on the ASX.
Macro Energy’s Managing Director Brett Lawrence says digitalBTC is a high quality investment and the board unanimously recommends the acquisition which will be put to a shareholder vote.
digitalBTC’s Executive Chairman Zhenya Tsvetnenko says the company can derive significant profit in supporting this emerging growth phase of Bitcoin and also plans to participate in other emerging digital currencies.
Shares in Macro Energy soared 42.31 per cent yesterday to end the session at $0.037.
Macro Energy reported a net loss of $441,000 in the first half of the 2014 financial year.