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Crypto Corner Podcast 736: Stocks discussed: (NasdaqGM: CAN) (NasdaqCM: CLSK) (TSXV: MPT)

Canaan Purchases 30,000 Avalon BTC Miners, CleanSpark Reports Financial Results, and Midpoint Holdings Acquires Blockchain World Ltd.

 

Point Roberts, WA and Delta, BC - December 15, 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 736: Stocks discussed: (NasdaqGM: CAN) (NasdaqCM: CLSK) (TSXV: MPT)

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Stocks discussed: (NasdaqGM:CAN) (NasdaqCM:CLSK) (TSXV:MPT)

Canaan Inc. (NasdaqGM:CAN) has secured a purchase order from Genesis Digital Assets Limited for 30,000 units of its Avalon Bitcoin (BTC) mining machines. Expected to be delivered in the first quarter of 2022, this order is the first phase of an option to purchase up to 180,000 additional Bitcoin mining machines. Canaan's Chairman and CEO, Nangeng Zhang, said:

"This substantial order by Genesis Digital Assets reflects the continued success of our collaboration and reinforces our long-term strategic partnership. Being a trusted computing solution provider with solid delivery capabilities, we have been supporting Genesis Digital Assets as they expand their mining farms across multiple geographic regions around the world. We are also pleased to work with clients like Genesis Digital Assets to enhance renewable energy applications in mining. Together with our clients, we are committed to building the infrastructure of blockchains and share the long-term vision of the cryptocurrency industry."

CleanSpark, Inc. (NasdaqCM:CLSK) has reported financial results for its fourth quarter and 2021 fiscal year. For Q4, the company posted revenues of $27.1 million, which is an increase of $25.15 million (1,300 percent) from the same period last year. For the fiscal year, the company posted revenues of $49.4 million, which is an increase of $39.4 million (400 percent) over the prior fiscal year. CleanSpark boasts $123.2 million in total mining equipment and a working capital of $47.7 million as of September 30, 2021.

Midpoint Holdings, Ltd. (TSXV:MPT) has entered into a purchase agreement to acquire all of the issued and outstanding share capital of consumer-focused blockchain-based products company Blockchain World Ltd. (BWL). Following the transaction, BWL founder Domenic Carosa will join the Midpoint board of directors. Derek Ivany, the President of Midpoint Holdings, said:

"It has been one of our stated corporate goals to augment our consumer-facing business with applicable blockchain technology. As such, we believe that this Transaction represents a very compelling opportunity to take Midpoint into the digital asset space in order to assist in building shareholder value in 2022 and beyond. The addition of Domenic Carosa will further bolster Midpoint's board with highly relevant blockchain and cryptocurrency experience that will be vital as the Company moves forward in this arena. Midpoint's ability to tap into Domenic's vast network within the digital asset sector will be of tremendous value as the Company assesses further product expansion and partnership opportunities."

Sam Mowers, Investorideas

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