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Crypto Corner Episode 441: Crypto Exchange INX Announces IPO, Bitfarms (TSXV: BITF) Leases 1,000 Miners from BlockFills

 

Point Roberts, WA and Delta, BC - August 21, 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/2020/082120-CryptoMarket.mp3

Crypto Corner Episode 441: Crypto Exchange INX Announces IPO, Bitfarms (TSXV: BITF) Leases 1,000 Miners from BlockFills

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Stocks discussed: (TSXV:BITF)

INX, a digital assets exchange based in Gibraltar, announced that it will begin its initial public offering (IPO) on August 24, 2020, or "shortly thereafter," according to a press release. INX plans to sell 130 million tokens at $0.90 each with a minimum investment of $1,000, according to the firm's filing with the U.S. Securities and Exchanges Commission (SEC). The filing indicates that INX's vision "is to establish two trading platforms and a security token that provide regulatory clarity to the blockchain asset industry." An excerpt from the press release reads:

INX intends to use a portion of the net proceeds raised from the sale of INX Tokens in the Offering for the continued development and operation of INX Trading Solutions, a regulated solution for the trading of blockchain assets, including cryptocurrencies, security tokens, and their derivatives, and for the establishment of a cash reserve fund.

Bitfarms Ltd. (TSXV:BITF) has entered into a 24-month equipment lease with BlockFills for 1,000 WhatsMiner M31S+ miners to be delivered and installed in approximately two weeks. Emi Grodzki, Interim CEO of Bitfarms, commented:

"We are also pleased to partner with BlockFills to lease 1,000 new generation miners, especially during this period when available mining equipment inventory is low. Bitfarms is working with BlockFills to enter into further lease financing over the next few weeks that will allow the Company to add even more operational capacity. Given the recent rise in Bitcoin prices, Bitfarms is well-positioned as mining economics continue to improve after the Bitcoin Halving this past May and we are excited to be able to continue with the execution of our growth strategy."

Up Korea reports that the South Korean city Daegu, the country's fourth-largest, plans to spend 7.1 billion won (nearly $6 million USD) on education for 4th industrial revolution areas including blockchain and AI. The city's Deputy Mayor, Hong Eui-rak, commented:

"Although local companies have been struggling to secure specialized talents in software fields such as AI and blockchain, it was regrettable that there was no specialized training program in the region. It seems that it has provided an opportunity to settle down. I will expand support to strengthen the digital competitiveness of local companies in line with the government's digital new deal policy."

Sam Mowers, Investorideas

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