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Crypto Corner Podcast 872: Stocks discussed: (NasdaqCM: $MARA) (NasdaqCM: $CLSK)

Commentary on BTC from BitBull Capital CEO Joe DiPasquale, Marathon Reports Q2 Results, and CleanSpark Acquires Mining Facility in Georgia

 

Vancouver, Kelowna, Delta, BC - August 9, 2022 (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.

The Investor ideas Crypto Corner was named one of 14 Best Crypto & Blockchain Podcasts for Jun 2022: https://www.yoreoyster.com/blog/best-crypto-podcasts/

Listen to today's Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2022/080922-CryptoMarket.mp3

Crypto Corner Podcast 872: Stocks discussed: (NasdaqCM: $MARA) (NasdaqCM: $CLSK)

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Stocks discussed: (NasdaqCM:MARA) (NasdaqCM:CLSK)

According to data from CoinMarketCap, Bitcoin (BTC) is trading for about $23,000 USD at press time. Joe DiPasquale, CEO of BitBull Capital, has provided commentary to Investorideas.com regarding Bitcoin's price and its possible indications:

"In line with our comments last week, BTC's rally failed to materialize into a sustained trend and the market leader was largely range bound between $23,000 - $22,000. However, the resilience on display should inspire confidence among market bulls.

From a technical analysis perspective, the range between $20,000 - $22,000 is an important support zone right now. While the possibility of a retest of this zone can't be ruled out, any breakdown below this is likely to result in further downside toward recent lows. On the flipside, a breakout above $25,000 could see BTC moving very quickly toward the $29,000 - $30,000 resistance."

Marathon Digital Holdings, Inc. (NasdaqCM:MARA) has reported its financial and operational results for the second quarter ended June 30, 2022. Highlights include the production of 707 BTC - increasing the firm's total Bitcoin holdings to 10,055 BTC as of the month's end, and a net loss of $191.6 million - in line with Bitcoin's own decline in price over the period. Fred Thiel, Marathon's Chairman and CEO, explained:

"Energization delays, maintenance and weather issues in Montana, and an approximately 56% decline in the price of bitcoin during the quarter, severely impacted our bitcoin production and financial results. These items reduced our revenues, caused us to record a $127.6 million impairment on our bitcoin holdings, and decreased the fair market value of our investment fund by $79.7 million. However, given the groundwork we laid during the quarter and the progress we have made since, we are optimistic that Marathon's operational and financial positioning is improving."

CleanSpark, Inc. (NasdaqCM:CLSK) has entered into a definitive agreement to acquire an active Bitcoin mining facility located in Washington, Georgia, for $16.2 million. Additionally, the company has purchased approximately 3,400 of the latest generation Antminer S19 series of machines for roughly $8.9 million, which are already operating at the acquired site. Zach Bradford, CleanSpark's CEO, said:

"The market has been preparing all summer for consolidation, and we are pleased to be on the acquiring side. Our focus on sustainability and maximizing value for our stakeholders have put us in a unique position to take advantage of the unprecedented opportunities that the current market has created. We are especially excited to be working with the citizens of Washington, GA, who have been so welcoming to us. We look forward to maintaining and growing jobs and infrastructure at our new campus in Washington."

Sam Mowers, Investorideas

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