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Crypto Corner Podcast 637: Stocks discussed: (NasdaqGS: TSLA) (OTC: ARBKF) (NasdaqGS: BTBT)

Musk Says Tesla Might "Resume Accepting Bitcoin," Argo Breaks Ground at New Texas Mining Facility, and Bit Digital Reports Operation Highlights for Q2

 

Point Roberts, WA and Delta, BC - July 22, 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.

Listen to today's Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2021/072221-CryptoMarket.mp3

Crypto Corner Podcast 637: Stocks discussed: (NasdaqGS: TSLA) (OTC: ARBKF) (NasdaqGS: BTBT)

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Elon Musk made some optimistic comments about Bitcoin (BTC) at "The ₿ Word" virtual event, according to Cointelegraph, even indicating that Tesla (NasdaqGS:TSLA) might consider bringing Bitcoin payments back. Paying for Tesla vehicles with Bitcoin was stopped in May, out of concern for the environmental impact of the crypto space. Musk said, however:

"It looks like Bitcoin is shifting a lot more towards renewables and a bunch of the heavy duty coal plants that were unequivocally being used have been shut down, especially in China. I want to do a little more diligence to confirm that the percentage of renewable energy usage is most likely at or above 50% and that there is a trend towards increasing that number. If so, Tesla will resume accepting Bitcoin."

Argo Blockchain (OTC:ARBKF) has announced that it has broken ground on its highly-anticipated, renewable energy-focused 200-megawatt (MW) crypto mining facility in Dickens County, Texas. Argo CEO Peter Wall said:

"Texas is a leader in renewable power generation in the United States with a flexible grid, producing some of the most competitive and most sustainable electricity rates in the nation, which is one of the many reasons why we look forward to partnering with the community in Dickens County to bring this important project to Texas. Breaking ground marks an exciting new chapter as we continue to gain greater control of our mining operations and strengthen our position as a global leader in sustainable blockchain infrastructure and mining, and we are eager to get up-and-running."

Bit Digital, Inc. (NasdaqGS:BTBT) reported some highlights from its Q2 operations at Sequire's Blockchain Conference from July 15. According to the press release, the company boasts "one of the largest currently-owned fleets of any US-listed bitcoin miner, at approximately 32,000 machines, representing over 1.9 Eh/s," and "earned 562.9 bitcoins" in the second quarter this year. CEO Bryan Bullett commented on Bit Digital's opportunities with regard to bitcoin mining being banned in China:

We are uniquely positioned to acquire these miners at scale, and potentially increase our asset base significantly and rapidly. To our knowledge, Bit Digital is the only US-listed miner with both a primarily US-based management team, US operations and hosting relationships, and deep relationships among the major former Chinese operators. Our team on the ground in China is positioned to source equipment and transact with reputable counterparties rapidly, in large volumes, as we have done before. As an illustration of this capacity, the Company grew to its current position as one of the largest US-listed miners, primarily through several large spot market purchases. And as noted, we have been successfully shipping large quantities of miners purchased in China and redeploying them in North America since October 2020.

Sam Mowers, Investorideas

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