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Crypto Corner Podcast 843: Stocks discussed: (CSE: PBIT) (NYSE: BTCM) (TSXV: SATO)

POSaBIT Systems, BIT Mining Limited, and Canada Computational Post First Quarter Financial Results


Vancouver, Kelowna, Delta, BC - May 27, 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 843: Stocks discussed: (CSE: PBIT) (NYSE: BTCM) (TSXV: SATO)


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Stocks discussed: (CSE:PBIT) (NYSE:BTCM) (TSXV:SATO)

Blockchain-enabled payment processing and point-of-sale systems provider POSaBIT Systems Corporation (CSE:PBIT) has announced its financial results for the three months ended March 31, 2022. Highlights include $103 million in transactional sales for payment services, and a total revenue of $6.4 million. Ryan Hamlin, CEO and Co-founder of POSaBIT, said:

"We continued to onboard new merchants during the first quarter, primarily higher volume stores that, when coupled with anticipated same-store growth from our existing store footprint, reinforces our optimism for another year of exponential growth in 2022. Transactional sales volume began accelerating again towards the end of the first quarter with March transactional volume representing the largest month in our corporate history and that trend continued into the second quarter."

BIT Mining Limited (NYSE:BTCM) has reported its unaudited financial results for the first quarter ended March 31, 2022. Q1 saw revenues of $296.7 million, down from the $497.8 million recorded in the fourth quarter of 2021, but still considerably higher than the $2.6 million recorded for the first quarter of 2021. Xianfeng Yang, CEO of BIT Mining, said:

"Over the past quarter, we focused on our expansion in North America and have made significant progress in the construction of our data centers in Ohio. In the meantime, we continued our Bitcoin [BTC] and Ethereum [ETH] mining businesses and the integration of other businesses such as mining pool operation and mining machine manufacturing to create synergies. Given our early-mover advantage in Ethereum mining, we are also making inroads into Proof-of-Stake (POS) operations by providing a series of services including governance and monitoring, account system and nodes management. Looking forward, we plan to continue to enhance our value proposition and further strengthen our mining technology."

Canada Computational Unlimited Corp. (TSXV:SATO) has also shared its Q1 2022 financial results for March 31, 2022. Highlights include a total revenue of $1,709,266, as well as $3,857,548 in digital assets held as of the quarter's end. Romain Nouzareth, the company's President and CEO, said:

"These results are reflective of the Company's dedication to its continued growth and success in responsible mining. CCU's mining power at the Center One facility has increased by a 4x factor compared to Q1 2021 and will reach 8x that upon completion. We are on track to reaching full capacity and I am confident that we will continue to deliver shareholder value."

Sam Mowers, Investorideas

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