US LNG exports surge but will buyers in China turn up?
NINGBO, China - Skycorp Solar Group Limited (NASDAQ:PN), a $77 million market cap manufacturer of solar cables and connectors with annual revenues of nearly $50 million, announced Tuesday it will begin accepting cryptocurrency payments for international transactions effective August 1, 2025.
The company will support Bitcoin, Ethereum, and stablecoins including USDC and USDT, according to a press release. Skycorp also plans to allocate a portion of its cash reserves and renewable energy project returns toward Ethereum acquisitions as part of its treasury management strategy. InvestingPro analysis shows the company maintains a healthy current ratio of 1.99, with more cash than debt on its balance sheet, supporting its ability to pursue this initiative. The stock has shown significant volatility, gaining nearly 30% in the past week despite being down 29% over six months.
"By integrating green energy, AI and ETH-based blockchain solutions, the Company is innovating for a sustainable future," said Weiqi Huang, Chairman and CEO of Skycorp Solar. With a gross profit margin of 13.1%, the company maintains profitable operations while pursuing technological innovation. Discover more insights about Skycorp’s financial health and growth potential with InvestingPro, which offers 8 additional exclusive tips for this stock.
All cryptocurrency transactions will be processed through licensed RWS providers specializing in blockchain forensics to ensure regulatory compliance, the company stated. These transactions will comply with frameworks established by the Monetary Authority of Singapore and the Financial Action Task Force.
Skycorp Solar cited the recent GENIUS Act as providing a regulatory foundation for stablecoins that enables the adoption of digital payments.
The China-based company manufactures solar photovoltaic products through subsidiaries including Ningbo Skycorp Solar Co., Ltd. Skycorp aims to expand its offerings of solar PV products and energy solutions for enterprise customers.
In other recent news, Skycorp Solar Group Limited has announced a significant strategic move with the approval of a $150 million investment framework. This framework aims to facilitate the acquisition and development of solar photovoltaic power plants. The decision was made unanimously by the company’s Board of Directors. This development marks a shift for Skycorp Solar Group, as it plans to expand beyond its current focus on manufacturing solar cables and connectors. The company is venturing into owning and developing renewable energy infrastructure. This initiative highlights Skycorp’s commitment to broadening its scope within the renewable energy sector. These recent developments reflect the company’s strategic direction towards growth in renewable energy projects.
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