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Crypto Corner Episode 510: Riot (NasdaqGS: $RIOT) Receives 2,500 Antminers, HIVE (TSXV: $HIVE.V) Achieves 2021 ASIC Goal with Miner Purchase

NetCents (CSE: $NC.C) Provides Update for Crypto Credit Card, Bitcoin Steady as Ether Reaches New ATH

 

Point Roberts, WA and Delta, BC - January 19, 2021 (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/2021/011921-CryptoMarket.mp3

Crypto Corner Episode 510: Riot (NasdaqGS: $RIOT) Receives 2,500 Antminers, HIVE (TSXV: $HIVE.V) Achieves 2021 ASIC Goal with Miner Purchase

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Stocks discussed: (NasdaqGS:RIOT) (TSXV:HIVE) (CSE:NC)

Bitcoin (BTC), though slightly in the green this morning, is still trading below the elusive $40,000 it has grazed over the past few weeks, according to data from CoinMarketCap. At press time, it is trading for $37,170. A piece from Reuters this morning indicates that a Bank of America survey found that "buying bitcoin had replaced buying tech stocks as the trade which fund managers saw as most crowded," and characterized Bitcoin as a bubble.

Ether (ETH), according to data from CoinMarketCap, is up around 14 percent in the last 24 hours and a staggering 38 percent in the past week, and has secured a new all-time high trading price this morning of $1,430 USD. Its previous ATH was about $1,400, reached on January 13, 2018.

Riot Blockchain, Inc. (NasdaqGS:RIOT) has received and is deploying 2,500 Bitmain S19 Pro Antminers as part of its purchase agreement disclosed in October 2020. Upon deployment, this will bring the company's total Antminers in operation to 9,540 with a hash rate capacity of approximately 842 PH/s. Riot's CEO, Jeff McGonegal, said"

"The price of bitcoin recently exceeding $41,000 has resulted in a dramatic rise in values attributed to bitcoin mining enterprises, while also accelerating competitive expansion in the industry and higher acquisition costs for increasingly scarce miners. As Riot evaluates its strategy for 2021 and beyond, we are very excited and focused on the significant opportunities created by current market conditions, but also mindful of the potential impacts on our business that the highly volatile bitcoin pricing trends can have on operations and values, combined with competitive, market and regulatory factors that need to be monitored and considered."

HIVE Blockchain Technologies Ltd. (TSXV:HIVE) has achieved its previously announced 2021 ASIC capacity goal of 1,000 PH/s with the purchase of 6,400 Canaan AvalonMiner 1246 next generation miners with an aggregate operating hash power of 576 PH/s. An excerpt from the press release reads:

Today's announcement is part of our continuing strategy to increase our bitcoin mining capacity. HIVE intends to continue utilizing cash flow to make opportunistic investments in ASIC and GPU next generation mining equipment that can provide positive gross mining margins.

NetCents Technology Inc. (CSE:NC) has provided an update on its forthcoming crypto credit card, indicating that it has received its Bank Identification Number (BIN) and has started printing cards. The company's founder and CEO, Clayton Moore, said:

"This development couldn't have come at a better time, Cryptocurrencies are really at that inflection point of growth, moving from "early adopters" to a larger consumer group we call 'the new generation' of FinTech clientele. Our predictions on the price of Bitcoin (please refer to previous press (March 16, 2020/August 5, 2020)) has come to pass. We expect wallets to exceed 100 million units in the near future, and that is just scraping the surface of a multi-billion market. Young people are embracing the opportunity to manage their own finances and they are now moving their assets into Crypto. The natural extension of this trend is to be able to access those assets with something as simple as a credit card. Our recent growth has been exceptional and now our clients will be able to use Crypto to shop wherever Visa is accepted. We believe that with all this new attention on Cryptocurrency - the take-up rate on our Visa card will be beyond our expectations."

Sam Mowers, Investorideas

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