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Crypto Corner Podcast 529: Stocks discussed: (NasdaqGS: MSTR) (TSX: HUT) (TSXV: DMGI) (TSXV: BNXA)

Bitcoin Breaks $50K, Microstrategy to Buy $600 Million in BTC, Bitfury Sells Hut 8 Shares for R&D, DMG Updates on Facility Upgrades, and Banxa Partners with SatoshiLabs

 

Point Roberts, WA and Delta, BC - February 16, 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.

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https://www.investorideas.com/Audio/Podcasts/2021/021621-CryptoMarket.mp3

Crypto Corner Podcast 529: Stocks discussed: (NasdaqGS: MSTR) (TSX: HUT) (TSXV: DMGI) (TSXV: BNXA)

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Stocks discussed: (NasdaqGS:MSTR) (TSX:HUT) (TSXV:DMGI) (TSXV:BNXA)

Earlier this morning Bitcoin (BTC) briefly hit a major milestone, reaching a trading price over $50,000 USD - peaking at $50,341 - according to data from CoinMarketCap. It has since cooled, clocking in at just a bit over $49,000 at press time, however. This comes after Bitcoin had been flirting with the $50K milestone on Sunday, only to end up dipping suddenly to below $47,000 before a fairly steady rally on Monday.

This was surely primed by a particularly bullish news cycle last week, as well as bullish news today. For instance, today MicroStrategy (NasdaqGS:MSTR) announced a proposed private offering of $600 million in convertible senior notes. And according to the press release, "intends to use the net proceeds from the sale of the notes to acquire additional bitcoins."

Bitfury Holding BV announced today that it had sold 8,477,687 common shares of Hut 8 Mining Corp. (TSX:HUT) According to the press release, Bitfury "intends to use the proceeds from such sales for accelerated R&D, specifically around its next-generation ASICs chip development, which will positively influence Bitfury's growing global ecosystems of customers and partners, inclusive of Hut 8." Valery Vavilov, founder and CEO of Bitfury, commented:

"Since the incorporation of Hut 8, Bitfury has been a shareholder and key technology and service partner for Hut 8's data centers. Throughout this time, Hut 8 has continued to show growth and sustainable business practices, steadily building toward an independent and strong infrastructure despite challenging market conditions. Under CEO Jaime Leverton and her leadership, we have seen this momentum increase significantly and are confident this will continue as we move forward and continue to grow our partnership."

DMG Blockchain Solutions Inc. (TSXV:DMGI) has revealed updates and plans for upgrades at its flagship cryptocurrency facility. This includes the addition of more miners, and retrofitting of the first 30 megawatts of the facility's infrastructure to immersion cooling, which, according to the press release, "will increase the Company's future bitcoin mining capacity to approximately 1.0 Exahash (EH/s)." DMG's COO, Sheldon Bennett, said:

"DMG's goal is to be the most efficient and technologically advanced mining company in the entire Bitcoin mining industry. Our immersion cooling deployment initiative is just the beginning of numerous technological innovations to be developed and implemented by DMG as part of our rapid growth strategy in the coming years, and the best is yet to come."

Digital asset Payment Service Provider (PSP) Banxa Holdings Inc. (TSXV:BNXA) has announced a strategic partnership with the SatoshiLabs Group, the inventor of the world's first hardware wallet, Trezor. Banxa's CEO, Holger Arians, explained:

"Trezor is a trailblazer in the industry, making it easy and safe to store digital assets. By partnering with Trezor, we deliver on our mission to onboard the masses to crypto currencies. Our fiat to crypto onramp and Trezor's storage and Invity's exchange capabilities allow people around the world to participate in the digital asset ecosystem."

Sam Mowers, Investorideas

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