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Crypto Corner Podcast 587: Stocks discussed: (NYSE: $UBS) (NasdaqCM: $RIOT) (TSXV: $HIVE.V)

Ethereum Hits New ATH, UBS Group Considering Crypto Options for Rich Clients, Riot Announces April Production Results, and HIVE Sells Norwegian Subsidiary

 

Point Roberts, WA and Delta, BC - May 10, 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/2021/051021-CryptoMarket.mp3

Crypto Corner Podcast 587: Stocks discussed: (NYSE: $UBS) (NasdaqCM: $RIOT) (TSXV: $HIVE.V)

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Stocks discussed: (NYSE:UBS) (NasdaqCM:RIOT) (TSXV:HIVE)

Data from CoinMarketCap indicates that Ether (ETH), the native cryptocurrency of Ethereum, has reached another new all-time high trading price of $4,165 USD, and is trading for about $4,085 at press time. As for Bitcoin (BTC), the flagship cryptocurrency, it is trading for roughly $57,350 at press time, after having surpasses $59K a couple of times briefly over the weekend.

BNN Bloomberg reports that Swiss multinational investment bank and financial services giant UBS Group AG (NYSE:UBS) is planning ways to offer wealthy clients investments in digital currency. Not much information was given, but a source "familiar with the plan," said that:

Any investment offering would be a very small portion of the clients' total wealth because of the volatility, while options include investing through third party investment vehicles.

Riot Blockchain, Inc. (NasdaqCM:RIOT) has announced its April production and operational updates. Highlights include the production of 206 bitcoins, which is an increase of about 91 percent over its pre-halving April 2020 production of 108 bitcoins. As of April 30, the company holds over 1,771 bitcoins, "all of which were produced by its mining operations." Riot also revealed that 6500 S19 Pro Antminers were shipped early this month, and that installation of these is expected to be completed in the second quarter. Upon full deployment of these additional miners with the company's existing fleet, "Riot will have a total of 22,946 Antminers in operation, utilizing approximately 73 megawatts of energy, with an estimated hash rate capacity of 2.3 exahash per second.

HIVE Blockchain Technologies Ltd. (TSXV:HIVE) has announced the sale of its Norwegian subsidiary Kolos Norway AS to the local municipality Narvik under a share purchase agreement. This follows a legislative bill, approved by the Norwegian Parliament in 2018, stating that cryptocurrency miners will no longer be subject to the relief on power consumption at the same rate as other power-intensive industries. HIVE's Executive Chairman, Frank Holmes, explained:

"HIVE would like to express our appreciation to the local community of Narvik, who has been supportive of the challenging position that the Company was facing. We are unfortunate that it has come to this, but glad that the property has been retained by the local community so that the community can focus on developing this greenfield property for many uses. This deal was made before myself or our CFO had assumed executive duties. We are pleased that our management team can now continue to focus on more immediate needs like upgrading our current facilities while expanding existing operations in Sweden, Iceland and Canada."

Sam Mowers, Investorideas

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