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Crypto Corner Podcast 793: Stocks discussed: (NasdaqGM: BITF) (NasdaqGS: ARBK) (NasdaqGS: CORZ)

Austin, TX Mayor Looking into Blockchain and Crypto Options for City, Bitfarms Acquires New Site in Quebec, and Argo Signs Fleet Swap Agreement with Core Scientific


Vancouver, Kelowna, Delta, BC - March 14, 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 Podcast 793: Stocks discussed: (NasdaqGM: BITF) (NasdaqGS: ARBK) (NasdaqGS: CORZ)


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Austin, TX Mayor Looking into Blockchain and Crypto Options for City, Bitfarms Acquires New Site in Quebec, and Argo Signs Fleet Swap Agreement with Core Scientific

Stocks discussed: (NasdaqGM:BITF) (NasdaqGS:ARBK) (NasdaqGS:CORZ)

Cointelegraph reports that Steve Adler, the mayor of Austin, Texas, has undertaken initiatives to embrace blockchain technology and crypto payments for the city. As part of the first initiative, Adler has "directed the city manager" to look into implementing Web3 and blockchain technology "in 20 fields from smart contracts, supply chain management and insurance to arts, media, fundraising and identity verification." Adler's second initiative orders the city manager to run a study to determine ways the city can adopt cryptocurrencies such as Bitcoin (BTC), including possibly as a means to pay "municipal taxes, fees, and penalties."

Bitfarms Ltd. (NasdaqGM:BITF) has recently acquired new land and a building in Sherbrooke, Quebec, Canada. Called Garlock, the new location is believed to have a power capacity of 18 megawatts (MW) and is intended to replace the company's existing de la Pointe facility. Geoff Morphy, President and COO of Bitfarms, explained:

"When completed, total planned capacity of our three Sherbrooke farms, which also include Leger and The Bunker, will fully utilize Hydro-Sherbrooke's contracted power of 96 MW. The new farm is part of our commitment with the City of Sherbrooke to re-locate production and phase out our de la Pointe facility. As we have done with our other locations, Garlock will be outfitted with the latest in sound reduction and monitoring technology. We expect a smooth transition in production as we work to bring the farm fully online in the first quarter of 2023, at which point operations at the de la Pointe facility will be closed and the facility will be sold."

Argo Blockchain (NasdaqGS:ARBK) has signed a fleet swap agreement with Core Scientific, Inc. (NasdaqGS:CORZ) that will see Argo exchange its Bitmain Antminer S19 series bitcoin mining fleet, hosted at Core for S19J Pro bitcoin miners previously ordered by Core, to be delivered directly to Argo's new Helios facility. Peter Wall, the CEO of Argo, said:

"The agreement with Core marks the final step towards our strategic objective of owning and operating all our miners, a path which we chose to pursue in 2020. While we have been pleased with the performance of our miners hosted with Core, this agreement allows us to upgrade our existing fleet and strengthen our mining infrastructure, while greatly reducing the operational risk of relocating between facilities. Finally, we greatly appreciate the hosting services provided by Core Scientific, as well as their flexibility in supporting our strategy shift."

Sam Mowers, Investorideas

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