#CryptoCorner: 3iQ Files Preliminary Prospectus for #Bitcoin Fund, Hut 8 (TSX: $HUT.TO) Completes $7 Million Purchase
#CryptoCorner: 3iQ
Files Preliminary Prospectus for #Bitcoin Fund, Hut 8 (TSX: $HUT.TO) Completes
$7 Million Purchase
Point Roberts, WA, Delta BC November 29,
2019 - Investorideas.com, a leader in crypto and blockchain investing news
brings you today’s edition of the Crypto Corner podcast
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3iQ Files Preliminary Prospectus for Bitcoin Fund,
Russia’s Central Bank Supports Crypto Payments Ban, Germany Passes Bill
Allowing Banks to Sell and Hold Crypto and Hut 8 Completes $7 Million Purchase
Stocks discussed (TSX:HUT)
Canadian investment
fund manager 3iQ Corp (TSX:0P0001DH7Y) has filed a preliminary
prospectus for its close-end Bitcoin fund, which is expected to be available on
the Toronto Stock Exchange later this year, according to a report from Cointelegraph. The firm’s President and CEO
Fred Pye told the publication:
“We expect to list on the Toronto Stock Exchange in
late December or early January. As a part of our next steps, we’re hoping to
get Canada’s big banks on board. We’re hoping that two or three of Canada’s
biggest banks, specifically ones that want to lead in fintech space, will join
the syndicate group.”
Russian state news
outlet RIA Novosti reports that the country’s central
bank supports the idea of banning crypto payments. An unnamed representative of
the central bank said:
“The only legal tender in the Russian Federation is the
ruble. We continue to believe that cryptocurrencies carry significant risks,
including in the field of laundering of proceeds from crime and the financing
of terrorism, as well as during exchange transactions due to sharp exchange
rate fluctuations.”
“In our opinion, private cryptocurrencies cannot be
equated with fiat money and cannot be legal tender. If it is decided to ban
cryptocurrencies as a means of payment at the legislative level, we consider it
appropriate to support this position.”
Meanwhile, in
Germany a newly passed bill will enable banks to offer cryptocurrency holding
and selling, according to local business outlet Handelsblatt. Sven Hildebrandt, head of the
consulting firm DLC, said:
"Germany is well on its way to becoming a
crypto-heaven. The German legislator is playing a pioneering role in the
regulation of crypto.”
Crypto mining firm
Hut 8 Mining Corp. (TSX:HUT) has finalized the purchase of 9 Blockbox AC data centers for $7
million USD from the Bitfury Group at its facility in Drumheller, Alberta. The
acquisition, now fully operational, adds 16 percent to Hut 8’s capacity of
operations. Hut 8 CEO Andrew Kiguel commented:
"This upgrade allows Hut 8 to take 100% ownership
of the Drumheller facility, which will bring further cost savings. This upgrade
was funded from Hut 8's balance sheet, which remains strong after this
transaction and prior debt repayments."
Sam
Mowers, Investorideas
For
investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain
and Digital Currency Stocks Directory
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