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Crypto Corner Podcast 668: Stocks discussed: (NasdaqCM: BTBT) (TSXV: DGHI)

El Salvador Buys Dip as it Adopts BTC as Legal Tender, Bit Digital Enters Agreement with Blockfusion, and Digihost Publishes August Production Update

 

Point Roberts, WA and Delta, BC - September 7, 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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Crypto Corner Podcast 668: Stocks discussed: (NasdaqCM: BTBT) (TSXV: DGHI)

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Stocks discussed: (NasdaqCM:BTBT) (TSXV:DGHI)

El Salvador has today become the first country to officially adopt bitcoin (BTC) as a legal tender. Roughly coincident with this was a Bitcoin sell-off, which according to CoinDesk, dragged the largest cryptocurrency down to a trading price low of $42,900, an 11.3 percent drop, and triggering "liquidations of billions of dollars of trading positions due to margin calls, across both centralized and decentralized exchanges." This prompted El Salvador's President, Nayib Bukele, to tweet: "Buying the dip. 150 new coins added." Bitcoin fairly promptly recovered from this low, and is trading for about $47,000 USD at press time, according to data from CoinMarketCap. Bukele subsequently tweeted:

It appears the discount is ending

Thanks for the dip @IMFNews. We saved a million in printed paper.

El Salvador now holds 550 bitcoin.

Bit Digital, Inc. (NasdaqCM:BTBT) has entered into a strategic co-mining agreement with crypto miner Blockfusion USA, Inc., which will give the former premises and services "for the operation of a 35 MW bitcoin mining system for a term of 2 years, with automatic one-year renewals." Bryan Bullet, CEO of Bit Digital, said:

"This strategic partnership with Blockfusion represents the latest example of our creative, value-oriented approach to sourcing clean power, with a veteran partner with shared values, structured on attractive terms. In particular, the ROFR provisions of our Agreement provide Bit Digital optionality to acquire interests in, or the entirety of, Blockfusion, while receiving credit for our Infrastructure Investment. Absent a Strategic Transaction, Bit Digital will receive a refund of its investment. In our opinion, such a deal would be difficult to replicate in today's tight market for power and hosting in North America."

Digihost Technology Inc. (TSXV:DGHI) has reported its unaudited Bitcoin production updates for August 2021. Highlights include the production of 44.07 BTC, bringing the company's total holdings to 446.2 BTC. Digihost CEO Michel Amar said:

"We are proud of the tremendous growth in our mining operations, as we are on track to mine a higher fair market value of Bitcoin in Q3 compared to any previous quarter to-date."

Sam Mowers, Investorideas

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