#CryptoCorner: #Bitcoin Sees Biggest One Day Loss in 3 Months, Riot Blockchain (Nasdaq: $RIOT) Releases Strategic Priorities for 2020 and ASX Owner NSX to Launch DLT Platform with iSignthis
#CryptoCorner: #Bitcoin
Sees Biggest One Day Loss in 3 Months, Riot Blockchain (Nasdaq: $RIOT) Releases
Strategic Priorities for 2020 and ASX Owner NSX to Launch DLT Platform with
iSignthis
Point Roberts, WA, Delta BC February 20,
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 .
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Bitcoin Sees Biggest One Day Loss in 3 Months Following
Brief Comeback, Northern Data and Canaan to Cooperate on AI, Blockchain, Riot
Blockchain Releases Strategic Priorities for 2020 and ASX Owner NSX to Launch
DLT Platform with iSignthis
Stocks discussed:
(NasdaqGM:CAN) (NasdaqCM:RIOT) (ASX:NSX)
The crypto market
has been quite the rollercoaster ride in the past few days. Since the last
Crypto Corner on Tuesday, Bitcoin (BTC) poked its head
back above $10K, and peaked at about $10,190 early Wednesday, according to data
from CoinMarketCap. For a fleeting
moment it appeared that the price drop over the weekend was just temporary, but
then Bitcoin fell once again, this time over $600 with the biggest one day loss
in about three months. The total market capitalization for the whole crypto market
lost about $20 billion in the same period, falling from about $297 billion at
its peak on Wednesday to $277 billion at press time. Bitcoin itself is
currently trading for about $9,600.
Blockchain
solutions and datacenter provider Northern Data AG (XETRA:NB2) has announced cooperation with crypto mining
hardware manufacturer Canaan Inc (NasdaqGM:CAN)
on the development of blockchain tech, AI and datacenter operations. NG Zhang,
CEO of Canaan, said:
"Northern Data has rich experience in building
high-performance computing infrastructure, and our research and development
(R&D) team is collaborating with Northern Data. Both sides have achieved
positive results. In addition, Northern Data will provide computational
resources support for our overseas R&D in the US. Canaan looks forward to
further cooperation in product development, AI, and high-performance computing
with Northern Data in the future."
Northern Data stock
is up around 3 percent at press time, whereas Canaan is in the red about 7.3
percent. Any boost gained by the press release discussed was likely undone by
the downtrend in the crypto market, which may have dragged Canaan’s stock down.
Riot Blockchain,
Inc. (NasdaqCM:RIOT) has released an outline of its
strategic priorities for 2020. In particular, the company plans to focus “on
bitcoin mining and pursuing opportunities more directly related to bitcoin
mining.” An excerpt from the press release outlines the company’s progress in
this area:
Riot recently completed a full network upgrade at its
Oklahoma City mining facility with the objective to increase operational
efficiency and performance. As previously mentioned in a press release issued
on February 11, 2020, Riot procured 4,000 S17 miners from Bitmain during
December 2019. As of mid-February, the deployment of 4,000 S17s was completed
at the Oklahoma City mining facility resulting [in] an overall hashrate of 240
petahash per second ("Ph/s"), consuming approximately 12 megawatts of
energy.
The Company plans to provide updates on monthly
production levels, commencing with a report shortly after the February 2020
production totals are reconciled. Such production updates are anticipated to
continue for at least three months.
Riot stock is down
about 8 percent at press time, keeping with the general red of the crypto
market previously discussed.
CoinDesk reports that NSX
Ltd. (ASX:NSX), which owns the
National Stock Exchange of Australia, announced a joint venture with financial institution
iSignthis (ISX), “to offer a digital securities trading platform.” The
DLT-based platform will be called ClearPay, and will feature "know your
customer’s customer" security solutions from iSignthis. It is expected to
debut “by early 2021.”
Sam
Mowers, Investorideas
For
investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain
and Digital Currency Stocks Directory
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