Borato Group's SOAR stock soared on Tuesday after the company unveiled a patent-pending method of mining Bitcoin using aircraft.
What happened: Volato announced that it is developing patent-pending technology that will allow aircraft to generate revenue by repurposing underutilized resources for cryptocurrency mining.
The company's systems are designed to operate using surplus power generated during normal flights and dynamically scale up to utilize additional onboard power when capacity is compromised. . This new technology allows operators to turn inefficiencies into Bitcoin assets through mining.
Volato highlighted specialized mining hardware that is optimized to achieve the best performance at high altitudes. The company said the system operates in a cool, energy-rich aircraft environment, resulting in superior efficiency compared to ground-based mining setups.
“Our technology secures a future where aircraft do more than just transport people and goods, they actively create value through advanced computing,” said Matt Liotta, CEO of Volato.
“As Bitcoin adoption continues to accelerate, this innovation will enable the aviation industry to participate in its evolution while leveraging its unique operating environment.”
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How to buy SOAR stock
You're probably interested in how you can get involved in the Volato Group market, either by buying shares or placing a bet on the company.
Stock purchases are typically made through a brokerage account. A list of available trading platforms can be found here. In many cases, you can purchase “fractional shares.” This allows you to own a portion of a stock without purchasing the entire stock. Volato Group is trading at $0.36 at press time. You can buy 277.78 shares for $100.
If you are looking to bet on a company, the process becomes more complicated. You'll need access to an options trading platform or a broker who can lend you the stocks you want to sell and “short sell” the stock. Check out this resource to learn about the process of shorting stocks. Otherwise, if your broker allows options trading, you can buy a put option or sell a call option with a strike price above the strike price at which the stock is currently trading. Either way, you can profit from a decline in stock prices.
SOAR Price Movement: According to Benzinga Pro, Volato Group stock was up 52.3% to 34 cents at the time of publication.
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