#CryptoCorner: #Crypto Market Surge amid Iran Tensions, Riot Blockchain (Nasdaq: $RIOT) Receives Bitmain Order and Libra (Nasdaq: $FB) Association Vice Chair Criticizes BTC as Payment
#CryptoCorner: #Crypto Market Surge amid
Iran Tensions, Riot Blockchain (Nasdaq: $RIOT) Receives Bitmain Order and Libra
(Nasdaq: $FB) Association Vice Chair Criticizes BTC as Payment
Point
Roberts, WA, Delta BC January 8, 2020 - 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 the cryptocurrency
market .
Listen to today’s
Crypto Corner Podcast:
Crypto
Market Surge Amid Iran Tensions, SBI and GMO to Process Crypto Transactions for
New Texas Mining Facility, Riot Blockchain Receives Bitmain Order and Libra
Association Vice Chair Criticizes BTC as Payment
Stocks
discussed: (TYO:9449) (TYO:8473) (NasdaqCM:RIOT) (NasdaqGS:FB)
The crypto market has witnessed
something of a surge in the last few days with total market capitalization
having reached about $218 billion at press time, according to data from CoinMarketCap. The
market cap had been as low as $184 billion as recently as last Thursday. In the
last 24 hours Bitcoin (BTC) has
led this surge with a 5.9 percent increase to a current trading price of about
$8,330. Data from Google
Trends shows particular interest in the search term “bitcoin
iran”, indicating that geopolitical tension between the U.S. and the Islamic
Republic may be contributing to crypto’s recent surge.
BNN
Bloomberg reports that financial services firm SBI Holdings,
Inc. (TYO:8473) and
GMO Internet, Inc. (TYO:9449) have
“in principle agreed” to process cryptocurrency transactions at a crypto mining
facility in Rockdale, Texas, operated by Northern Bitcoin AG subsidiary
Whinstone Inc. According to “people familiar with the matter”: “Renting out
capacity to SBI Crypto, a unit of SBI Holdings, and GMO may help Northern
Bitcoin to get further large, crypto-savvy investors on board.”
Riot Blockchain, Inc. (NasdaqCM:RIOT) received 3,000 S17 Pro
Antminers from BitmainTech PTE. LTD. at the former’s Oklahoma City mining
facility in late December 2019, according to a press
release today. The firm expects to receive the second order of
1,000 S17 Pro Antminers from Bitmain during this month, which will complete the
full upgrade of its Oklahoma City mining facility to the new S17 Pro generation
of miners. An excerpt from the press release reads:
Riot
estimates the aggregate operating hashrate at the Oklahoma City mining
facility, assuming full utilization of the facility's current total 12 megawatt
("MW") available electric supply and full deployment of the total
4,000 next generation miners, to be approximately 248 petahash per second. This
would represent an estimated 240% increase over Riot's present average mining
hashrate. Riot anticipates that total deployment of the 4,000 S17 Pro new
miners will represent approximately 90% of the Oklahoma City's mining
facility's total current capacity.
CoinDesk reports
that Dante Disparte, vice chairman of Facebook’s (NasdaqGS:FB) Libra Association, criticized
Bitcoin’s validity as an alternative payment system at the Consumer Electronics
Show (CES) in Las Vegas. Specifically, he said:
"Bitcoin
as an asset class has proven that mathematical scarcity can support an
incredibly exciting asset. It's not a means of payment. It just isn't."
Sam Mowers, Investorideas
For investors
following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain
and Digital Currency Stocks Directory
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