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Crypto Corner Podcast 659: Stocks discussed: (NasdaqGS: MSTR) (NasdaqCM: RIOT) (TSX: GLXY) (CSE: BIGG)

MicroStrategy Drops Another $177M on BTC, Riot Reports Q2 Results, Galaxy Digital Partners with Alerian and S-Network Global Indexes, and BIGG Reports Financial Results

 

Point Roberts, WA and Delta, BC - August 24, 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/2021/082421-CryptoMarket.mp3

Crypto Corner Podcast 659: Stocks discussed: (NasdaqGS: MSTR) (NasdaqCM: RIOT) (TSX: GLXY) (CSE: BIGG)

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Stocks discussed: (NasdaqGS:MSTR) (NasdaqCM:RIOT) (TSX:GLXY) (CSE:BIGG)

MicroStrategy (NasdaqGS:MSTR) has spent another $177 million on Bitcoin (BTC), according to a tweet this morning from CEO Michael Saylor. Saylor's full tweet reads:

MicroStrategy has purchased an additional 3,907 bitcoins for ~$177 million in cash at an average price of ~$45,294 per #bitcoin. As of 8/23/21 we #hodl ~108,992 bitcoins acquired for ~$2.918 billion at an average price of ~$26,769 per bitcoin.

Riot Blockchain, Inc. (NasdaqCM:RIOT) has reported its second quarter financial results for the three-months ended June 30, 2021. Highlights include an increase in mining revenue by 1,540 percent to a record $31.5 million – up from $1.9 million in Q2 2020, as well as a record net income of $19.3 million – up from a $10.6 million net loss in Q2 2020. Jason Les, Riot's CEO, commented:

"We are extremely pleased with Riot's record quarterly financial results. The Company's improved financial results are a direct result of Riot's absolute focus on Bitcoin mining and growing its mining operations. With the successful acquisition of Whinstone US ("Whinstone"), the Company's growth prospects have been significantly de-risked, and future financial opportunities are very exciting. As previously announced, Riot is aggressively expanding its capacity at Whinstone, which is expected to provide the critical infrastructure necessary to successfully execute on driving continued growth for the Company."

Galaxy Digital Holdings, Ltd. (TSX:GLXY) has announced that its Galaxy Fund Management division has partnered with Alerian and S-Network Global Indexes to launch the Alerian Galaxy Global Blockchain Indexes and Alerian Galaxy Global Cryptocurrency-Focused Blockchain Indexes. Robert Hughes, Chief Commercial Officer of Alerian and S-Network Global Indexes, explained:

"Index-based investing is continuously evolving and expanding into new asset classes and exposures to support the ever-growing demand from investors. Galaxy Fund Management was a natural partner as we sought to enter the decentralized finance space given Galaxy Digital's industry leading history, deep connectivity, and unparalleled innovation delivering this new asset class to investors."

BIGG Digital Assets Inc. (CSE:BIGG) has reported its fiscal Q2 2021 financial results for the three and six months ended June 30, 2021. Highlights include a gross revenue of $4.55 million ($4.16 million for online cryptocurrency brokerage Netcoins and $385,000 for Blockchain Intelligence Group). The company's CEO, Mark Binns, said:

"We are very pleased with our Q2 results - which reflect excellent growth across both Netcoins and BIG. Each company grew revenue by 24% QoQ or better, with margins remaining very strong. We also took advantage of the recent Bitcoin price degradation, adding to our holdings which now sit at 430.8 Bitcoin."

Sam Mowers, Investorideas

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