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Crypto Corner Podcast 554: Stocks discussed: (TSX: $HUT.TO) (NasdaqGS: $FTFT) (CSE: $GBLC.C) (NasdaqGS: $SPRT)

Hut 8 Joins Foundry Mining Pool, Future FinTech Subsidiary to Acquire 60% of Guang Dong Hi-Card Business Service Co, Graph Blockchain Makes Initial Capital Deployment Into Polkadot, and Miner Greenidge to List on Nasdaq Through Merger

 

Point Roberts, WA and Delta, BC - March 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.

Crypto Corner Podcast 554: Stocks discussed: (TSX: $HUT.TO) (NasdaqGS: $FTFT) (CSE: $GBLC.C) (NasdaqGS: $SPRT)

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Stocks discussed: (TSX:HUT) (NasdaqGS:FTFT) (CSE:GBLC) (NasdaqGS:SPRT)

CoinDesk reports that Hut 8 Mining Corp. (TSX:HUT) has joined Foundry's institutional Bitcoin (BTC) mining pool, bringing 14,400 machines, and planning to deploy an additional 5,000 machines by August. Foundry, which is a wholly owned subsidiary of Digital Currency Group (DCG), only brought its North America-based pool out of its beta testing phase two weeks ago, and it already ranks near the top 10 mining pools worldwide. Hut 8 CEO Jamie Leverton told CoinDesk:

"Having a formidable bitcoin mining pool based and operated entirely in North America is important to us."

Future Commercial Group Co., Ltd., a wholly-owned subsidiary of blockchain e-commerce and fintech service provider Future FinTech Group Inc. (NasdaqGS:FTFT), has signed an equity acquisition frame agreement with Guang Zhou Hi-Card Computer Network Service Co., Ltd. to acquire 60 percent of the shares of Guang Dong Hi-Card Business Service Co., Ltd. Future FinTech's CEO, Shanchun Huang, explained:

"Hi-Card is a highly active player in the payment processing space in China. It has accumulated a great deal of experience and has translated this into success in financial technology, especially in the development and promotion of application systems in the electronic payment field. We are pleased to have entered into this initial frame agreement as it represents yet another major step in expanding our footprint in financial technology services."

Graph Blockchain Inc. (CSE:GBLC) has made its initial deployment of capital into the cryptocurrency Polkadot (DOT) for the purpose of staking, through its wholly owned cryptocurrency subsidiary, Babbage Mining Corp. CEO of Graph, Paul Haber, said:

"We are extremely excited to be deploying funds into our initial token purchase and management and the board have taken great care in developing a process as we move forward to tokenize the Company's cash position and grow the crypto business. The Company is greatly confident with the team and look forward to building on this first purchase of a cryptocurrency with the Polkadot token."

An announcement today reports that Bitcoin mining company Greenidge Generation Holdings Inc. expects to become a Nasdaq listed company through a merger with Support.com, Inc. (NasdaqGS:SPRT). This will see the latter become a wholly-owned subsidiary of Greenidge. According to the press release, "Greenidge is expected to be the only U.S. public company operating a vertically integrated power generation asset and bitcoin mining operation and plans to replicate its vertically integrated mining model at other power sites and expects to achieve at least 500 MW of mining capacity by 2025."

Sam Mowers, Investorideas

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