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Crypto Corner Podcast 671: Stocks discussed: (NasdaqCM: HVBT) (OTCQB: MIGID) (NasdaqGM: CAN) (LSE: ARB) (OTC: ARBKF) (TSX: GLXY)

HIVE Orders 3,000 Miners, Mawson Buys ASICs from Canaan, and Argo Blockchain Enters Loan Agreement with Galaxy Digital

 

Point Roberts, WA and Delta, BC - September 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/2021/091021-CryptoMarket.mp3

Crypto Corner Podcast 671: Stocks discussed: (NasdaqCM: HVBT) (OTCQB: MIGID) (NasdaqGM: CAN) (LSE: ARB) (OTC: ARBKF) (TSX: GLXY)

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Stocks discussed: (NasdaqCM:HVBT) (OTCQB:MIGID) (NasdaqGM:CAN) (LSE:ARB) (OTC:ARBKF) (TSX:GLXY)

HIVE Blockchain Technologies Ltd. (NasdaqCM:HVBT) has ordered 3,000 MicroBT WhatsMiners, comprising a total hashrate of 294 Petahash per second (PH/s), at an average efficiency of about 34 Watts per Terahash (W/TH), and is now HODLing more than 1,000 Bitcoins (BTC) in its cold wallets. Frank Holmes, the company's Executive Chairman, said:

"The continuing work and success that our team has been able to achieve with our strategic partners during these challenging times due to the global shortages in chips and logistics delays in shipping equipment from Asia due to Covid 19 has been remarkable. As a result, we are able to increase our 2022 run-rate revenue by almost 25% with this acquisition, while positioning HIVE to realize a good ROI on capital invested, by making ASIC acquisitions at very attractive $/TH prices, all in pace with the development of our green and clean operating infrastructure. We are not saddled with needing to buy carbon offsets which helps our margins because we are focused on mining buy sourcing geothermal and hydroelectric energy."

Mawson Infrastructure Group, Inc. (OTCQB:MIGID) has purchased 17,352 Application-Specific Integrated Circuits, or ASICs, from long-time partner Canaan Inc. (NasdaqGM:CAN). This purchase boasts a combined hashing power of over 1500 Peta Hashes per second (PH/s), or 1.16 percent "of the total hashing power of the global network today." According to the press release, "this is enough power to mine almost 11 BTC a day, or $15,600,000 a month." Mawson's CEO James Manning commented:

"Coupled with our extensive power infrastructure across the USA and Australia, we look forward to having these units online in late 2021, early 2022. We have purchased 3000 PH/s and will have this online by Q2 2022, and reiterate our target of 5000 PH/s online by early 2023."

A press release from the London Stock Exchange today indicates that Argo Blockchain (LSE:ARB) (OTC:ARBKF) has entered into a £18.05 million ($25 million USD) loan agreement with a maturity date of 29 October 2021 with Galaxy Digital Holdings Ltd. (TSX:GLXY). This is to be "rolled into" Argo's already outstanding loan with Galaxy of £14 million ($20 million USD) for a total outstanding principal amount of £32.05 million ($45 million USD). The loan, according to the press release, will be used:

...to continue the build out of the Company's West Texas data centre and to meet the Company's operating cash flow requirements. The loan will enable Argo to retain its current Bitcoin holding, whilst further expanding its mining operations. Argo is delighted to continue working with Galaxy as its financing partner.

Sam Mowers, Investorideas

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