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Crypto Corner Podcast 876: Stocks discussed: (NasdaqCM: CLSK) (NYSE: BTCM)

Commentary on BTC from BitBull Capital CEO Joe DiPasquale, CleanSpark Closes Mining Facility Acquisition, and BIT Mining Reports Q2 Results

 

Vancouver, Kelowna, Delta, BC - August 22, 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/2022/082222-CryptoMarket.mp3

Crypto Corner Podcast 876: Stocks discussed: (NasdaqCM: CLSK) (NYSE: BTCM)

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

Joe DiPasquale, CEO of BitBull Capital, has provided commentary to Investorideas.com regarding Bitcoin's (BTC) price and market:

"In line with our comments last week, Bitcoin's failure to breach $25,000 has capped its rally and it appears that macroeconomic concerns continue to affect markets. However, we maintain that healthy consolidation leading into September will be a positive sign for the bulls, especially if Bitcoin does not create a new low below $18,000. In case BTC does fall below the previous low, we could be looking at further downside, potentially toward the $15,000 range. However, as long as Bitcoin stays between $18,000 - $20,000, bulls should gain confidence. Upcoming hints from the Fed in terms of their policy are going to be key indicators, especially the September FOMC and the Ethereum [ETH] merge next month."

CleanSpark, Inc. (NasdaqCM:CLSK) has announced that it has closed on the previously-reported acquisition of an active Bitcoin mining facility in Washington, Georgia. This is anticipated to add 2.6 EH/s to CleanSpark's hashrate, according to the press release. Matt Schultz, the company's executive chairman, said:

"This is a tremendous opportunity for CleanSpark and our shareholders and we are thrilled to be moving so quickly on the deployment of this site. The community in Washington has welcomed CleanSpark with open arms, and we look forward to being their partners as we continue to build the transformative and sustainable infrastructure that is bitcoin mining."

BIT Mining Limited (NYSE:BTCM) has reported its unaudited financial results for the second quarter ended June 30, 2022. Highlights include revenues of $195.5 million USD - down considerably from $435.4 million in Q2 2021. The company's CEO, Xianfeng Yang, said:

"Over the past quarter, we have focused on R&D and identifying synergies across our vertically integrated supply chain. Cryptocurrency price weakness and higher energy prices have had a significant impact on stock prices and revenues of companies in our sector, including BIT Mining. Despite the turbulent market conditions, we remain committed to our long term growth strategy and confident in our ability to create value for our shareholders in the future."

Sam Mowers, Investorideas

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

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