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#CryptoCorner: Episode 417: PayPal (NasdaqGS: $PYPL) Fuels Crypto Rumours with Job Listings, Bithumb Planning IPO, Argo Expands Mining Capacity and HIVE (TSXV: $HIVE.V) Puts Newly Acquired Miners to Work

 

Point Roberts, WA and Delta, BC - June 24, 2020 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving cryptocurrency stocks and the crypto market.

Listen to today's Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2020/062420-CryptoMarket.mp3

#CryptoCorner: Episode 417: PayPal (NasdaqGS: $PYPL) Fuels Crypto Rumours with Job Listings, Bithumb Planning IPO, Argo Expands Mining Capacity and HIVE (TSXV: $HIVE.V) Puts Newly Acquired Miners to Work

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Stocks discussed: (NasdaqGS:PYPL) (LSE:ARB) (TSXV:HIVE)

After the last Crypto Corner on Monday (June 22) it was reported on Cointelegraph that PayPal (NasdaqGS:PYPL) had posted job listings for crypto and blockchain experts on its official job board. This has fuelled rumours, according to the article, that the payments giant may be gearing up to "enable direct cryptocurrency purchases for its 305 million users." Positions labelled "Technical Lead - Crypto Engineer" and a "blockchain research engineer" were posted. Elsewhere, an unnamed industry source told Coindesk:

"My understanding is that they are going to allow buys and sells of crypto directly from PayPal and Venmo. They are going to have some sort of a built-in wallet functionality so you can store it there."

South Korean crypto exchange Bithumb is planning an IPO with Samsung Securities as an underwriter, according to local outlet MoneyToday. The article indicates that an IPO may assist the Bithumb in overcoming "unsettled challenges such as opaque shareholder composition, uncertainty about business continuity, taxation issues, protection of investors, and social reputation issues."

UK-based crypto miner Argo Blockchain (LSE:ARB) has announced an expansion of its mining capacity. On June 19, the company purchased 750 Bitmain Z11 mining units for $474,000, which are already operating at full capacity having been put into production immediately at the time of acquisition. Peter Wall, CEO of Argo Blockchain, said

"We firmly believe that cryptocurrencies are well-positioned to become an even larger asset class, and that the correct strategy is continued investment in mining infrastructure. Argo's existing fleet of Z11s have performed extremely well, and we are pleased to add more equihash mining capacity to our fleet of machines."

HIVE Blockchain Technologies Ltd. (TSXV:HIVE) has put into operation its recently acquired 1,090 Bitmain Antminer T17+ 58 Terahash per second (TH/s) SHA 256 mining machines at its green energy-powered bitcoin mining operation in Quebec. Adding this to the firm's recently installed 750 Bitmain Antminer S17+ 73 TH/s machines, which are also operational at the Quebec facility, brings its aggregate operating hash rate to "approximately 118 PH/s and is estimated to be operating at a gross mining margin above 40%"

Sam Mowers, Investorideas

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