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Crypto Corner Podcast 686: Stocks discussed: (NasdaqCM: MARA) (NasdaqGS: HUT) (NasdaqGS: EBON)

Marathon and Hut 8 Publish September Updates, and Ebang International Announces Six Month Financial Results

 

Point Roberts, WA and Delta, BC - October 4, 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 686: Stocks discussed: (NasdaqCM: MARA) (NasdaqGS: HUT) (NasdaqGS: EBON)

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Stocks discussed: (NasdaqCM:MARA) (NasdaqGS:HUT) (NasdaqGS:EBON)

Marathon Digital Holdings, Inc. (NasdaqCM:MARA) has published unaudited bitcoin (BTC) production and miner installation updates for the month of September 2021. Highlights include third quarter production of 1,252.4 newly-minted bitcoins - an increase of 91 percent quarter-over-quarter, and the production of 340.6 newly-minted bitcoins during September alone. The company also announced a new $100 million revolving line of credit (RLOC) with Silvergate Bank. CEO Fred Thiel explained:

"Due to Marathon's positive track record, our growth trajectory, our position as one of the largest holders of bitcoin among publicly traded companies in the U.S., and the broader maturation of our industry, we were able to obtain a $100 million revolving line of credit with Silvergate Bank, which is secured by our bitcoin holdings and USD. This instrument is consistent with our strategy to focus on agility as it enhances our ability to act opportunistically and in a manner that is efficient for both our business and our shareholders. By having this line of credit in place, we believe Marathon is better positioned to continue growing over the coming quarters."

Hut 8 Mining Corp. (NasdaqGS:HUT) has shared its own corporate update featuring production highlights for the month of September 2021. During the month, the company mined 264 bitcoins - with an average production rate of 9.11 bitcoins per day, and received and installed "600 servers consisting of 2400 NVIDIA cryptocurrency mining processors ("CMPs") graphics processing unit ("GPUs"), resulting in a daily earning of 7.10 ETH, equivalent to 0.5 BTC/day totaling $25,000 CAD in income per day." Hut 8's CTO, Jason Zaluski, commented:

"Our current capacity of deployed CMP GPU miners will continue to earn $25,000 CAD per day, ramping up to the full capacity earnings over this period, which is expected to be at $110,000 CAD per day, based upon current mining economics. Hut 8's full CMP deployment has been hampered by the supply chain constraints and manufacturing shortages many industries are experiencing globally," said Jason Zaluski, Chief Technology Officer, Hut 8 Mining. "We continue to work with our technology partners and we anticipate this issue to be resolved early in Q4."

Ebang International Holdings Inc. (NasdaqGS:EBON) has announced its unaudited financial results for the first six months of fiscal year 2021. The company, which manufactures Bitcoin miners and designs ASIC chips, recorded net revenues of $18.30 million - up 65.69 percent period-over-period from 2020, and a gross profit of $5.64 million. Dong Hu, Ebang's Chairman and CEO, outlined some of the company's plans moving forward:

"To achieve long-term stable growth, the company plans to vigorously develop financial technology (FinTech) business, while steadily carrying out research and development as well as sales business of mining machines of Bitcoin and other cryptocurrencies such as Litecoin [LTC] and Dogecoin [DOGE]. The Company plans to gradually launch software-as-a-service (SaaS) businesses on some of its platforms, aiming to provide a full set of FinTech solutions to industry players who lack technical support and security."

Sam Mowers, Investorideas

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