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Crypto Corner Episode 759: Stocks discussed: (NasdaqCM: CLSK) (NYSE: BTCM) (TSXV: CBIT)

CleanSpark Announces Hashrate Increase, BIT Mining Limited Provides Update on Ohio Mining Site, and Cathedra Bitcoin Updates on BTC Mining Operations


Vancouver, Kelowna, Delta, BC - January 24, 2022 ( Newswire), 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 Episode 759: Stocks discussed: (NasdaqCM: CLSK) (NYSE: BTCM) (TSXV: CBIT)


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Stocks discussed: (NasdaqCM:CLSK) (NYSE:BTCM) (TSXV:CBIT)

CleanSpark, Inc. (NasdaqCM:CLSK) has announced that its hashrate has surpassed 2 exahash per second (EH/s), a doubling over the past three months. As such, the company "now sustainably produces around 10 bitcoins (BTC) a day," according to the press release. CleanSpark's CEO Zach Bradford said:

"We have more capacity coming, in terms of both machines and access to additional energy. In fact, we believe we are one of the most efficient miners in terms of hashrate per megawatt and we are on track to maintain that."

BIT Mining Limited (NYSE:BTCM) has provided an update regarding the construction of its mining site in Ohio, indicating that it has achieved approximately 50 megawatts of power capacity. The company's CEO, Xianfeng Yang, commented:

"Our Ohio Mining Site continues to grow, and we are making progress in its buildout and in securing mining machines, despite ongoing industrywide supply-side constraints. 50MW is our first notable milestone, but this is only the beginning. We intend to reach our goals of extending our footprint and creating strong industry partnerships. As we continue to grow our computing power, we are also focused on creating a technology-driven diversified enterprise, capable of generating revenue along the cryptocurrency value chain."

He went on to say:

"We continue to execute on our strategy and have aggressive plans to scale throughout 2022. Our ability to source mining machines and gain access to the best technology has been, and will continue to be the primary driver of our success. We are confident that the continued diversification of our business and integration of new ventures will make us well positioned to drive stakeholders' value."

Cathedra Bitcoin Inc. (TSXV:CBIT) has posted an update on its bitcoin mining operations. In particular the company reports having deployed the final container in its partnership with Great American Mining (GAM), resulting in a total deployed hash rate with the latter of 155 PH/s, and its own company-level active hash rate to 187 PH/s. Cathedra also expects its two long-term purchase agreements with Bitmain, for 4,500 Antminer S19j Pro and 600 Antminer S19 XP machines, to be delivered throughout the course of this year.

Sam Mowers, Investorideas

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