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Crypto Corner Podcast 883: Stocks discussed: (NYSEAmerican: NILE) (NasdaqCM: NCTY)

Ethereum Merge Occurs, BitNile Shares August Updates, and The9 Subsidiary Announces Launch of 4 New Products


Vancouver, Kelowna, Delta, BC - September 15, 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.

The Investor ideas Crypto Corner was named one of 14 Best Crypto & Blockchain Podcasts for Jun 2022:

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Crypto Corner Podcast 883: Stocks discussed: (NYSEAmerican: NILE) (NasdaqCM: NCTY)


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Stocks discussed: (NYSEAmerican:NILE) (NasdaqCM:NCTY)

Yesterday saw the historic Ethereum Merge, noting the full transition of the Ethereum (ETH) network to proof-of-stake (PoS). According to coverage from Cointelegraph, this means specifically "the merging of the Ethereum mainnet execution layer and the Beacon Chain's consensus layer ... meaning the network will no longer rely on a proof-of-work (PoW) consensus mechanism." Eli Ben-Sasson, President and Co-founder of crypto and software firm StarkWare, told Cointelegraph that "the immediate importance of the Merge is the dramatic effect on energy consumption," and that the merge is "the first step in a process that will lead to exceedingly widespread adoption of Ethereum." He went on to say:

"It starts a chain reaction of changes. The end result will be the very broad use of Ethereum's computing power, and the general population using blockchain-based apps in many different areas of life."

BitNile Holdings, Inc. (NYSEAmerican:NILE) has published an unaudited update on its Bitcoin (BTC) production and miner installation for the month of August. Highlights include the mining of 60.45 BTC, the bringing of 700 of the company's new S19 XP Antminers online, a total of 12,669 miners in possession, and a total of 3,920 miners installed in the new hosted facility in Texas. Milton "Todd" Ault, III, BitNile's Executive Chairman, said:

"We kicked off our expansion of BTC mining in November 2021 when we announced purchase agreements with Bitmain at the World Digital Mining Summit 2021 held in Dubai. I am pleased to see the progress the team has made in building up our mining capability. We are excited that we have started to receive the XP miners that are environmentally friendly because of their reduced power usage."

The9 Limited (NasdaqCM:NCTY) has announced that its wholly-owned subsidiary, NFTSTAR Singapore, which operates the Web3 metaverse platform NFTSTAR, will launch four new products on October 15, 2022. These will include: an NFT collection designated for the international soccer superstar Neymar Junior, a Web3 metaverse social platform "Playmaker", a Blockchain soccer game called "Metagoal", and a sports prediction collecting game called "Wonder Win".

Sam Mowers, Investorideas

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