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If you are my hardcore reader, you would have know that I am an avid investor of Mclean Technologies Bhd (Mclean - 0167).
Mclean had established itself as a strategic partner to Seagate by focusing it's resources at Thailand, which is Seagate main production house for data storage devices (HDD/SSD).
The recent market biggest hype cannot be short of cryptocurrency where many multi millionaire and billionaire start appearing as cryptocurrency start to surge into unbelievable amount.
The pioneer of all cryptocurrency - Bitcoin surged past USD 60k for 1 bitcoin last week.
1 of the major letdown on Bitcoin mining is the very high energy consumption to complete the Proof of Work. Very complicated mathematical puzzle are demanding more high powered ASIC / GPU to compute the solution in order to get rewarded with the bitcoin.
While the global leader are tackling on the issue on global warming, bitcoin energy consumption might not be so friendly in the long run. As an improvement to the cryptocurrency technology, a new coin which is based on Proof of Space and Time is now gaining traction globally.
Meet the new coin - Chia Coin
The Chia Coin launching had been gaining massive traction globally, and momentum are getting real when you start to see HDD/SSD getting sold out in certain region.
If that is not convincing you enough, Seagate share price is reflecting positively with strong upside
As we know that Mclean revenue from surface treatment and precision cleaning come from demand of HDD volume.
Since Seagate is going to ramp up production, we can comfortably expect Mclean to deliver revenue growth and better profit.
At the current price of RM 0.46, Mclean market cap is just RM 90 million.
The previous market correction and adjustment and the positive news development in HDD industry had definitely made Mclean a good attractive target for the long run.
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