January 8, 2018 / 2:18 PM / in 9 months

BUZZ-McEwen Mining: Up after buying crypto mining systems

** Canadian miner’s shares rise nearly 5 pct to $2.40 premarket after announcing delivery of 360 cryptocurrency mining systems

** Co is developing a pilot project, which will determine whether further investment in cryptocurrency industry is warranted

** Several small-scale Canadian miners are planning to capitalize on the craze for blockchain technology, which supports cryptocurrency

** On Monday, another miner Malbex Resources, which acquires precious metal projects, says it plans to deploy a portion of its cash position into a basket of cryptocurrencies

** Axe Exploration Inc said in Dec it would eventually redirect business to cryptocurrency and blockchain; AXQ’s stock has more than doubled since

** MUX’s U.S.-listed stock fell ~22 pct in 2017, while Toronto shares dropped ~27 pct (Reporting by John Benny)

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