Envirotech Vehicles, Inc. (NASDAQ:EVTV) stock rose Friday after Azio AI Corporation announced it had received its first purchase order from the company for twenty-eight next-generation ASIC compute systems as part of a broader infrastructure validation initiative.
Azio AI said in a statement that payment for the initial tranche has been received in full, with delivery of the systems expected in the coming weeks.
The units are expected to be deployed within EVTV’s liquid-immersion-cooled modular container infrastructure platform, for which EVTV holds lease rights to the containerized and power-backed infrastructure.
Under the collaboration, EVTV will own the ASIC compute systems and maintain lease rights to the containerized power infrastructure, while Azio AI will oversee hardware integration, system configuration, and performance optimization.
During this phase, the systems are expected to support specialized SHA-256 compute workloads, generating Bitcoin (CRYPTO: BTC/USD) yields while establishing benchmarks for scalable multi-megawatt expansion.
Technical Analysis
Currently, the stock is trading 15.60% above its 20-day simple moving average (SMA), indicating strong short-term momentum. Over the past 12 months, shares have fluctuated within a 52-week range of 33 cents to $5.07, and they are currently positioned closer to their 52-week highs than lows.
EVTV Price Action: Envirotech Vehicles shares were up 4.05% at $1.80 at the time of publication on Friday, according to Benzinga Pro data.
Photo by Miha Creative via Shutterstock
Market News and Data brought to you by Benzinga APIs
To add Benzinga News as your preferred source on Google, click here.
