#CryptoCorner Episode 426: Korean Conglomerate Hanwha Participates in Funding Round for #Crypto Startup and Riot (NasdaqCM: $RIOT) Receives 1,000 S19 Miners from Bitmain
#CryptoCorner
Episode 426: Korean Conglomerate Hanwha Participates in Funding Round for #Crypto
Startup and Riot (NasdaqCM: $RIOT) Receives 1,000 S19 Miners from Bitmain
Point Roberts, WA, Delta BC July 17, 2020
- Investorideas.com, a leader in crypto
and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on
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Stocks discussed: (KSE:003530) (KSE:000880)
(NasdaqCM:RIOT)
The Bank of
Thailand has started using its central bank digital currency (CBDC) ahead of
its public rollout, according to an article from Thai outlet The Nation. The central
bank’s assistant governor, Vachira Arromdee, told the publication that the BoT
is using its digital currency “for financial transactions with some big
businesses,” and that it “will begin using the digital currency for
transactions with the Hong Kong Monetary Authority” in September. She also
said:
“The central bank is also thinking about expanding use
of the cryptocurrency to the general public, but a comprehensive study must be
completed before taking such action.”
Morning
Star
reports that Hanhwa Investment & Securities (KSE:003530), the securities
brokerage subsidiary of South Korean conglomerate Hanwha Group (KSE:000880), participated in
a Series A2 investment round – worth 4 billion won ($3.3 million USD) –
with CrossAngle, the operator of the global crypto asset disclosure platform
Xangle. An excerpt from the article reads:
The funding is expected to enable the company to build
the foundations and infrastructure for institutionalizing data services for
crypto assets, which is currently regarded as one of the essential pillars for
the industry.
Riot Blockchain,
Inc. (NasdaqCM:RIOT) announced that it has
received 1,000 S19 Pro miners, comprising the first of three orders totalling
3,040, S19 and S19 Pro Antminers from BitmainTech, at Coinmint's Massena, New
York facility. Remo Mancini, Chairman of Riot Blockchain, said in the press
release:
"The initial phase of the Riot Blockchain
transformation is now complete. We have embarked on a systematic risk
mitigation effort to benefit all shareholders.
We have overseen the termination of the SEC investigation and have
improved the Company's financial profile by eliminating all long-term debt,
adding significant positive working capital, and reducing our operating
overhead by relocating to a lower-cost facility."
We have also streamlined our operational capabilities
by reorganizing our management team, closing RiotX and focusing on the
production of bitcoin, of which the Company now has over 1,000 in inventory. We have completely upgraded the Company's
mining fleet and are on-track to achieving a hash rate capacity of
approximately 566 PH/s by Q4 of 2020, utilizing highly power efficient mining
hardware. We are now well-positioned to
embark on the second phase of Riot Blockchain's transformation."
Sam
Mowers, Investorideas
For
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