#CryptoCorner: How Power Needs and Millennial Interest are Driving the #Bitcoin and #Cryptocurrency Sector (OTCQB: $INTV) (NASDAQ: $MARA) (OTCQX: $HVBTF) (OTCQX: $GBTC)
#CryptoCorner: How Power Needs and Millennial
Interest are Driving the #Bitcoin and #Cryptocurrency Sector (OTCQB: $INTV)
(NASDAQ: $MARA) (OTCQX: $HVBTF) (OTCQX: $GBTC)
Point Roberts WA,
Delta BC – April 11, 2019 - Investorideas.com, a global investor
news source covering blockchain and cryptocurrency issues a special edition of the Crypto Corner looking at recent news and developments in
the cryptocurrency sector.
Cryptocurrencies are
experiencing a rise in price again, with Bitcoin reaching its 400 Millionth
transaction recently. From a recent Independent article; “Around 350,000
transactions take place every day across its (meaning Bitcoin’s) decentralised
blockchain, with many of these transactions currently passing through China
where the majority of bitcoin mining operations are located, however
this may soon be about to change. The country's economic planning agency
announced this week that it is considering a ban on bitcoin mining – the
process of generating new units of the cryptocurrency by providing the
computing power needed to confirm transactions. If implemented, the ban would
have a significant impact on the bitcoin network and potentially even the price
of bitcoin, with analysts suggesting it could cause further price rises.”
"It's more
likely to push bitcoin prices up than down," market analyst Mati Greenspan
told The Independent this week.
"The loss of cheap Chinese electricity would raise the mining cost, which
is net positive on price."
This is good news for cryptocurrencies like Bitcoin and
Ethereum, as well the US crypto-mining companies looking to fill the void China
will leave. Integrated Ventures Inc.
(OTCQB: INTV), a company engaged in digital
currency mining operations, (both manufacturing equipment and selling mining
rigs) as well as developing blockchain software, recently announced the execution of a Letter of
Intent to acquire a fully permitted and currently idled, 80 MW natural
gas-fired combined heat and power plant, located in Pennsylvania.
The Company intends to complete the restart of the Power
Plant and to launch cryptocurrency operations within 4-5 months. The Company
operations will focus on (i) mining using the Company’s owned mining rigs, (ii)
hosting third-party mining rigs and (iii) operating a mining pool.
Read
this in full at https://www.investorideas.com/news/2019/crypto-corner/04111INTV-MARA-HVBTF-GBTC.asp
Steve Rubakh, CEO commented, “Cogeneration is a proven
technology that produces 3 cents power, up to 75% increase in efficiency,
delivers up to 70% in energy savings, up to 50% reduction in GHG emissions,
eliminates reliance on local utilities, and thus provides a stable and reliable
access to electricity. The Power Plant will generate electricity, at below
market cost, which turns 100% of rigs that mine BTC, ETH and LTC profitable.
Due to Power Plant's generation capacity of 80 MW, the Company will have an
unmatched ability to grow the revenue streams by gradually scaling mining and
hosting operations and by establishing synergistic partnerships with companies
operating in the same space.”
HIVE
Blockchain Technologies Ltd. (TSX.V:HIVE) (OTCQX:HVBTF), who recently announced its results for the third quarter
ended December 31, 2018, is also looking to fill the infrastructure gap in this
industry as discussed in their financial results.
“The cryptocurrency ecosystem continues to undergo
significant volatility amid continually evolving regulatory review and
fluctuations in price,” said Frank Holmes, Interim Executive Chairman of HIVE.
“However, HIVE has remained committed to deploying infrastructure assets and
diversifying our business mix to commence mining of new coins. We continue to
accumulate Ethereum and Ethereum Classic and in the third quarter began adding
Bitcoin to our coin inventory. In the quarter we more than doubled our mining
capacity, negotiated improved financial terms with our largest partner and
added an additional 100 Petahashes (“PH”) of capacity at a significantly lower
cost than prior deployments.”
A recent Bloomberg article discussed how
bitcoin’s latest gains have helped boost the market, including Marathon Patent Group, Inc. (NASDAQ: MARA), a digital asset technology company
that mines cryptocurrencies with a focus on the blockchain ecosystem and the
generation of digital assets, and is currently operating one mining facility in
Quebec.
Marathon recently announced a four-for-one reverse stock split
of its outstanding common stock, intended to bring the Company into compliance
with the minimum average closing share price requirement for maintaining its
listing on the Nasdaq Capital Market.
According to a recent survey from eToro US, growing interest
from millenials is also helping drive the price of crypto. “We’re seeing the
beginning of a generational shift in trust from traditional stock exchanges to
crypto exchanges,” says Guy Hirsch, Managing Director of eToro US. “Younger investors’ experience with the stock
market has seen a great deal of loss of trust, with the fall of Lehman Brothers
because of irresponsible practices followed by the worst recession since the
Great Depression. As more investors become educated in the benefits of the
blockchain, we’ll continue to see this trend play out.”
Grayscale Investments, LLC, a
global leader in digital currency asset management released its 2018 Grayscale Digital Asset Investment Report, a
comprehensive report that highlights investment activity across the Grayscale
family of products in 2018, which very much aligned with the eToro survey
results. Grayscale raised $359.5 million into its single-asset and diversified
investment products, marking the strongest fundraising year in Grayscale's
history and nearly three times more capital than was raised in 2017.
Bitcoin continued to be the most dominant digital currency
for Grayscale investors. In the fourth quarter, 88% of all capital inflows went
into Grayscale Bitcoin Trust™ (OTCQX: GBTC). Notably, institutional investors
accounted for 66% of all new investment dollars in 2018, despite the
broad-based price reduction across digital currencies.
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