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Crypto Corner Podcast 493: Stocks discussed: (NasdaqGS: $RIOT) (OTCQB: $INTV) (NasdaqCM: $EQOS) (TSXV: $BITF)

Bitcoin Rises Following Announcement of $900 Billion Stimulus from US Congress, Riot Blockchain Purchases 15,000 Miners from Bitmain, Diginex Adds Borrowing and Lending Facilities, and Bitfarms Deploys and Adds More Miners

 

Point Roberts, WA and Delta, BC - December 22, 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.  Today's podcast was sponsored by Integrated Ventures (OTCQB: INTV), a company focused on acquiring, launching and operating assets in the cryptocurrency sector.

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https://www.investorideas.com/Audio/Podcasts/2020/1222120-CryptoMarket.mp3

Crypto Corner Podcast 493: Stocks discussed: (NasdaqGS: $RIOT) (OTCQB: $INTV) (NasdaqCM: $EQOS) (TSXV: $BITF)

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Crypto Corner Episode 492: Bitcoin Pulls Back from $24K ATH Reached Over Weekend, MicroStrategy Announces Purchase of $650 Million in BTC, and Coinbase Approached Goldman Sachs to Lead IPO

Stocks discussed: (NasdaqGS:RIOT) (NasdaqCM:EQOS) (TSXV:BITF)

Bitcoin (BTC) appears to have rebounded from its correction yesterday, having regained a trading price of about $23,500 at press time, according to data from CoinMarketCap. This price recovery is very likely in part a reaction to the news yesterday that the U.S. Congress has passed a $900 billion COVID-19 relief package. Tyler Winklevoss, Co-founder and CEO of crypto exchange Gemini, posted the following tweet in response to the news:

"Another $900 billion dollar advertisement for #Bitcoin"

Riot Blockchain, Inc. (NasdaqGS:RIOT) has purchased 15,000 S19 Pro and S19j Pro Antminers - 3,000 of the former, and 12,000 of the latter - from Bitmain Technologies Limited for approximately $35 million. Receipt and deployment of the miners is expected between May 2021 and October 2021, and will result in a 65 percent increase in the company's bitcoin mining hash rate capacity. Riot Blockchain CEO Jeff McGonegal said:

"Continued growth in deployed miners is paramount to a miner's success. Expanding the Company's bitcoin mining hash rate and operating on a cost-effective basis is very important, particularly during periods when the bitcoin spot price has appreciably increased. We are pleased to have secured this latest purchase, especially given that the available supply of mining hardware continues to become increasingly scarce."

Diginex Limited (NasdaqCM:EQOS) is expanding its product suite with the addition of borrowing and lending facilities. This development, according to the press release, "will enable customers of Diginex to lend and earn interest on their Bitcoin assets and Ether ... as well as borrow these cryptocurrencies against their existing crypto holdings." The Head of Investment Products at Diginex, Shane Edwards, said:

"With interest rates at historic lows there has never been a better time to offer crypto borrowing and lending. We are excited to unveil truly differentiated products with uniquely attractive risk return characteristics, unmatched in the traditional marketplace."

Bitfarms Ltd. (TSXV:BITF) announced that it has recently deployed 1,000 new Whatsminer M31S mining rigs, and that it has ordered an additional 3,000 Whatsminer M31S+ miners, scheduled for delivery in late February 2021. Emiliano Grodzki, the Interim CEO of Bitfarms, said:

"The Bitcoin mining sector has been tremendously exciting following the increase of Bitcoin prices since early October, and in particular thanks to the unprecedented peaks in price we've seen over the last week. The role, we as bitcoin miners have to play in this industry, is completely essential, and it is with great excitement that we are able to announce this expansion to our computing power."

Sam Mowers, Investorideas

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Crypto Corner Podcast sponsor

Integrated Ventures (OTCQB: INTV) is focused on acquiring, launching and operating assets in the cryptocurrency sector.

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