Crypto Corner Podcast 534 - Stocks discussed: (TSXV: $HIVE.V) (TSXV: $BITF.V) (CSE: $BIGG.C) (OTCQX: $BBKCF) (NYSE: $CS)
Bitcoin Dips Again, HIVE Purchases 6,000 Miners, Bitfarms Breaks 1EH/s Hash Rate, BIGG Trading on OTCQX, and Northern Data Eyeing US Listing
Point Roberts, WA and Delta, BC - February 23, 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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Crypto Corner Podcast 534: Stocks discussed: (TSXV: $HIVE.V) (TSXV: $BITF.V) (CSE: $BIGG.C) (OTCQX: $BBKCF) (NYSE: $CS)
Stocks discussed: (TSXV:HIVE) (TSXV:BITF) (CSE:BIGG) (OTCQX:BBKCF) (NB2.F) (NYSE:CS)
Though Bitcoin (BTC) appeared to be recovering from its dip at the time of yesterday's Crypto Corner, having returned to above $53K from a low of less than $49K, it ended up seeing another, more significant decline as the day progressed. According to data from CoinMarketCap, Bitcoin is trading for about $49,000, having gotten as low as $45,290 earlier this morning. Similar to yesterday morning's dip, this one is being widely attributed to whale sell-offs.
HIVE Blockchain Technologies Ltd. (TSXV:HIVE) has purchased 6,000 next generation miners with an aggregate operating hash power of 444 PH/s, an expansion which will increase its aggregate operating hash rate from Bitcoin mining to an estimated 1,673 PH/s by the end of 2021. According to the press release, the "new equipment is expected to be received and in operation in the next 6 months, delivered in 2 tranches, with 3,000 miners in each of July, and August 2021."
"As one of the founders of Bitfarms, I have been excited for the day that I could celebrate that our Company surpassed this important milestone. However, having achieved 1 EH/s, it has only increased my desire and excitement to grow Bitfarms to 3.0 EH/s by the end of 2021, and achieve sustained growth in 2022."
Bitfarms also announced the full repayment and retirement of its remaining term loan indebtedness.
"We are very pleased to reach the milestone of trading on OTCQX, and look forward to the increased exposure that the OTCQX will bring to potential investors in BIGG including US investment funds and family offices."
BIGG also reported that its online cryptocurrency brokerage, Netcoins, exceeded $100,000 CAD in daily revenue on February 22, 2021. The president of Netcoins, Mitchell Demeter, said:
"We are excited to see Netcoins cross the daily $100k revenue mark for the first time. We have seen a steady increase in daily volume and revenue all year, but this is a great watermark to hit. Our daily verified customer onboarding has quadrupled since December, and our customers are trading in higher volumes. Our product continues to evolve and our customer feedback has been overwhelmingly positive around product ease of use. We look forward to providing more updates to shareholders in the near future."
Bloomberg reports that German mining firm Northern Data AG (NB2.F), along with Credit Suisse AG (NYSE:CS), is working "on plans for a U.S. listing that could raise as much as $500 million, according to people familiar with the matter."
Sam Mowers, Investorideas
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