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Crypto Corner Podcast 586: Stocks discussed: (NYSE: $C) (TSXV: $BITF.V) (NasdaqGS: $BTBT)

Citigroup Considering Crypto, Bitfarms Purchases 6,600 Miners and is Approved for Nasdaq Listing, and Bit Digital Announces Q1 Results


Point Roberts, WA and Delta, BC - May 7, 2021 ( Newswire), 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:

Crypto Corner Podcast 586: Stocks discussed: (NYSE: $C) (TSXV: $BITF.V) (NasdaqGS: $BTBT)


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Stocks discussed: (NYSE:C) (TSXV:BITF) (NasdaqGS:BTBT)

Cointelegraph reports that investment banking giant Citigroup, Inc. (NYSE:C), following rising demand from asset managers and hedge funds, is considering offering crypto-related services - specifically trading, financing and custody services - to clients. The bank's global head of foreign exchange, Itay Tuchman, told the Financial Times today:

"We shouldn't do anything that's not safe and sound. We will jump in when we are confident that we can build something that benefits clients and that regulators can support."

and that:

"I don't have any FOMO [fear of missing out] because I believe that crypto is here to stay and that we are just at the very beginning of the market. This isn't a space race. There is room for more than just one flag."

Bitfarms Ltd. (TSXV:BITF) has announced the purchase of 6,600 new generation miners from Bitmain, a purchase representing 660 PH/s out of 1,053 PH/s of miners scheduled for delivery throughout the rest of this year. Irene Gao, Antminer Sales Director of NCSA Region, Bitmain, said:

"The additional 660 PH that will be added to their mining operations will solidify their presence in the mining space, further establishing Bitfarms as one of the leading mining companies in North America."

And just today it was reported that Bitfarms' application to list its common stock on the Nasdaq Global Market was approved by The Nasdaq Stock Market under the symbol "BITF". Bitfarms CEO Emiliano Grodzki commented:

"The approval for listing on The Nasdaq Global Market® is an incredible achievement for Bitfarms and is the fruition of multiple years of work and dedication. Over the last four years we have managed to build and operate one of the largest Bitcoin [BTC] mining operations worldwide. It is fitting that we will be listing on one of the most prestigious exchanges in the world and significantly expand the market reach of our Company. We are very proud to have reached this important milestone for the Company and our shareholders. I would like to thank the team at Bitfarms, and all our advisers and professionals whose tireless efforts made this possible."

Bit Digital, Inc. (NasdaqGS:BTBT) has revealed its unaudited financial results for the first quarter ended March 31, 2021. Highlights include $43.95 million in revenue from bitcoin mining, 1,013.40 bitcoins earned, and net earnings of $35.79 million.

Sam Mowers, Investorideas

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