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Crypto Corner Podcast 692: Stocks discussed: (NasdaqCM: BTBT) (NasdaqCM: CLSK) (TSXV: BNXA)

Bit Digital to Purchase 10,000 Miners from Bitmain, CleanSpark Purchases 4,500 Antminers with BTC, and Banxa Holdings Reports Record September Results

 

Point Roberts, WA and Delta, BC - October 12, 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/2021/101221-CryptoMarket.mp3

Crypto Corner Podcast 692: Stocks discussed: (NasdaqCM: BTBT) (NasdaqCM: CLSK) (TSXV: BNXA)

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Stocks discussed: (NasdaqCM:BTBT) (NasdaqCM:CLSK) (TSXV:BNXA)

Bit Digital, Inc. (NasdaqCM:BTBT) has signed agreements for the purchase of 10,000 Bitcoin (BTC) Antminers from Bitmain Technologies Limited. This is supposed, according to the press release, to "increase Bit Digital's miner fleet hash rate by over 1.0 Exahash (EH/S). Bryan Bullett, Bit Digital's CEO, said:

"By contracting for these Bitmain units, we have opened a new channel in our procurement strategy, diversifying our access to miners. While we believe we continue to enjoy differentiated access to the miner spot market, and expect to continue our ongoing spot purchases, our deal with Bitmain is an efficient means to procure a large quantum of new miners on attractive terms. This is key, as we believe that scale is paramount in importance in the bitcoin mining business. We look forward to a productive ongoing customer relationship with Bitmain."

CleanSpark, Inc. (NasdaqCM:CLSK) has announced its purchase of 4,500 units of the Antminer S19 bitcoin mining machine - partially funded through a portion of its own BTC holdings - with delivery expected to be complete by July 2022. Zach Bradford, CEO of CleanSpark, said:

"By making a conscious effort to reinvest in additional production, we are taking a market-based approach to our mining operations and maximizing value for our shareholders. We understand that using our bitcoin to support our operations and expansion is a paradigm shift for the digital currency mining industry in North America. We hope to continue to lead the market with these bold moves."

Banxa Holdings, Inc. (TSXV:BNXA) has reported its results for the month of September 2021, indicating a record Total Transaction Value (TTV) of $117.5 million AUD ($86.4 million USD) - an increase of 34 percent over the previous month. Holger Arians, the company's CEO, commented:

"It's great to see the market begin to pick up again after a few months of uncertainty. We believe the future of the digital asset space will be driven by deeper integration with traditional payments and financial services, and building the infrastructure to achieve this is our core objective. More rigid compliance protocols, greater transparency and more local payments are the key areas we have focused on, and the market has responded to this."

Sam Mowers, Investorideas

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