Steadily upscaling in the crypto space, Fernhill Corp. (OTC: FERN) is a diversified technology holding company building a digital asset ecosystem through ventures in crypto mining, digital asset trading, NFTs, DeFi and the Metaverse. FERN stock has landed on many investors’ radars after the company received the NASDAQ’s approval to use its ticker symbol on its exchange – leading to a 77% run. With plans to launch an NFT marketplace and venture into the DeFi sector in 2022, FERN stock could reach new highs as these plans roll out.
FERN Stock News
Over the summer, FERN announced its acquisition of PerfectMine, an established and fully operational crypto mining operating system and monitoring platform. At the time, FERN’s CEO Marc Lasky underscored the importance of this acquisition for the business, stating that it “sets the stage for Fernhill to become one of the leading providers of crypto mining tools and resources to help optimize and create green mining solutions for the masses”. He added that the acquisition is actually the first among a series of planned acquisitions of digital asset exchanges in the US that match the company’s long-term plans.
Showing no sign of slowing, the company shared its intention to sign a LOI for another Crypto platform by the end of Q3. The acquisition target was revealed in November as the groundbreaking digital asset trading platform Mainbloq. Designed to deliver customized trading solutions that optimize digital asset trading, Mainbloq is connected to more than 30 of the top global crypto exchanges.
PerfectMine
Meanwhile, FERN has made major progress with PerfectMine, relaunching its website and providing an updated roadmap for its products. This combined with its new marketing plan for upscaling PerfectMines’ client base, are moves designed for generating profits to help qualify the company for uplisting to the NASDAQ by the end of 2022. According to the company’s roadmap, FERN is also starting the process to become fully SEC reporting and could complete it as early as January.
At the same time, the company has continued working on PerfectMine’s infrastructure by adding new algorithms and pricing models. PerfectMine’s new features include social media integration, new pricing plans, integration with Coinbase, and scalable infrastructure on AWS. With plans to launch a robust marketing campaign for PerfectMine as well, FERN spent the year focused mostly on improving its PerfectMine acquisition.
Mainbloq
But this year, the company’s attention has shifted to Mainbloq. As a company that serves banks and hedge funds, it was important that Mainbloq become integrated with FTX which is considered to be the fourth largest digital assets exchange in the country. With this integration complete, FERN is pursuing its big plans for Mainbloq, outlining that within the first half of the year it will launch new analytics and data services tools while expanding the infrastructure to enhance performance and increase sales.
But that’s just the tip of the iceberg for FERN which plans to launch a new user interface to improve consumers’ experience, create support for additional digital asset classes, and integrate with digital assets venues. Meanwhile, the company will be bringing on new personnel and onboarding a number of global institutional customers as well.
Future Plans
While the company has plans for additional acquisitions in 2022, the addition of Mainbloq to its portfolio ties into FERN’s plans for “creating an integrated Digital Asset Ecosystem.” As Fernhill’s CEO highlighted during the acquisition, “MainBloq met and exceeded all of the criteria we had put in place” adding that its “state-of-the-art proprietary technology fits perfectly with our short term and long-term goals of becoming a leader in the blockchain and digital asset industry.”
With these acquisitions complete and plans for improving them in 2022, FERN has the management team and framework necessary to become a real contender in the space. Shareholders can look forward to further updates from the company, but at the moment FERN is looking to launch new businesses and acquire companies with angles on the digital asset marketplace to accelerate its growth.
*Updated May 5th
Mainbloc Developments
Focused on developing Mainbloq, FERN integrated its subsidiary with Coinbase’s Prime Services for Institutions. Through this, the company is able to meet the rising institutional demand for algorithmic trading platforms. As a leader in this sector, many institutions prefer utilizing Mainbloq’s platform since it allows them to access several pre-built exchange offerings. By integrating with Coinbase Prime, Mainbloq is now able to provide its clients with Coinbase’s technology. This means more assets are able to be traded at the best execution prices over multiple exchanges – helping position Mainbloq for further growth.
At the same time, Mainbloq is catering to the needs of many institutions by launching immediate support for sub-account trading. Given that the majority of Mainbloq’s clients are institutions expecting sub-account functionality, the company is seizing the opportunity to offer a service that is not available in most crypto exchanges. Moreover, Mainbloq is looking to monetize this functionality by offering it to exchanges. With plans to add exchanges every month, FERN has the potential to realize major revenues from Mainbloq in 2022 and beyond.
Considering Mainbloq’s focus on serving institutions, the company signed a LOI to provide Corinthian with automated algorithmic trading, smart order routing, and customized trading solutions. In this way, Corinthian will be able to enhance its trading performance across its funds’ strategies. Since Corinthian was founded by well-known, former JPMorgan and Credit Suisse fund managers – Paul Frost-Smith and Jerome Dupuy – this partnership is expected to provide Mainbloq with global recognition for its quality services.
On that note, it is worth mentioning that executives at leading financial firms are starting to take notice of this technology’s potential. CEOs of Blackrock, JPMorgan Chase, and Goldman Sachs recently hinted at the possibility of embracing blockchain technology while increasing their investments in crypto assets and stablecoins. In light of this, Mainbloq could witness major growth in 2022 as more capital enters this sphere.
NFT Marketplace
Aiming to create a digital asset ecosystem, FERN intends to launch a new NFT marketplace providing meticulous services to NFT creators by offering solutions for minting, marketing, and selling NFTs. Given the company’s approach to green-crypto mining, FERN will launch its marketplace on the Polygon blockchain which also offers lower gas fees. With the NFT marketplace set to launch in 2022, FERN stock is drawing many investors’ attention as the company ramps up the development of its ecosystem.
DeFi
However, the NFT marketplace is only the third of a four step plan to create the company’s ecosystem. As is, FERN still plans to enter the DeFi sector with staking, liquidity pools, and gaming. Considering that the company is set to close a strategic acquisition in 2022, this acquisition could be FERN’s ticket into this sector. Additionally, FERN intends to launch PerfectMine 3.0 which includes staking and ASIC mining.
Uplisting
Given the company’s plans to uplist to a senior exchange in 2022, FERN appointed Hudgens CPA, PLLC as its auditor to complete audits of FERN and MainBloq. Becoming fully reporting with the SEC is an important step towards uplisting and the company’s request to reserve the ticker symbol “FERN” is a sign that FERN is coming closer to its ultimate goal.
Having its request approved by the NASDAQ as well as the NYSE was a bullish sign for many investors, but FERN will continue to aggressively work towards meeting the listing standards as it submits more information to the exchange’s authorities. After this update, FERN stock could be one of the best stocks to watch this year.
FERN Stock Financials
In its 2021 annual report, FERN increased its assets to $12.5 million compared with $171 thousand in 2020. This increase is mainly due to FERN’s acquisitions throughout 2021 which contributed to its $8.1 million in intellectual property. While the company reported $253 thousand in revenues, FERN’s operating costs of $590 thousand yielded a net loss of $181 thousand for the year. Despite this, FERN has the potential to significantly increase its revenues in 2022 as it starts realizing revenues from its subsidiaries and IP.
Media Sentiment
@TheRealDrip2Rip was anticipating FERN stock’s recent run-up while it was bottomed out.
Technical Analysis
FERN stock is currently trading at $.0156 with a support at .0137 and .0113. It shows a resistance near .0161, as well as a secondary resistance at .0174. Accumulation is on a major upwards trend since FERN received NASDAQ’s approval to use its ticker symbol. Meanwhile, the RSI is at 74 indicating FERN stock is overbought and the MACD is bullish.
After surging 72%, FERN stock could dip as the RSI regulates but it appears ready to retest its resistance. Bullish investors could wait for FERN stock to dip near its support for a better entry point, but should watch the stock’s volume for an indication of how far the stock may run on these catalysts.
FERN Stock Forecast
Looking to build its digital asset ecosystem further, the company continues to develop Mainbloq with its targeted clients and global institutions in mind. By offering unique services in the digital asset trading sector, Mainbloq could secure a partnership with the well-known asset management company Corinthian through its LOI.
On top of this, FERN is set to launch its NFT marketplace later this year to further advance its efforts to create its ecosystem. With an acquisition approaching, FERN could deliver on its plans of entering the DeFi sector very soon. Despite all of these catalysts, FERN stock’s main catalyst is its potential listing on the NASDAQ or NYSE. Given that the company is approved by both exchanges to use its ticker symbol, FERN stock could be a profitable long-term hold.
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