#CryptoCorner Episode 441: #Crypto Exchange INX Announces IPO, Bitfarms (TSXV: $BITF.V) Leases 1,000 Miners from BlockFills
#CryptoCorner
Episode 441: #Crypto Exchange INX Announces IPO, Bitfarms (TSXV: $BITF.V) Leases
1,000 Miners from BlockFills
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to today’s Crypto Corner Podcast:
https://www.investorideas.com/Audio/Podcasts/2020/082120-CryptoMarket.mp3
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Stocks discussed: (TSXV:BITF)
INX, a digital
assets exchange based in Gibraltar, announced that it will begin its initial
public offering (IPO) on August 24, 2020, or “shortly thereafter,” according to
a press release. INX plans to sell 130 million
tokens at $0.90 each with a minimum investment of $1,000, according to the
firm’s filing with the U.S. Securities and Exchanges
Commission (SEC). The filing indicates that INX’s vision “is to establish two
trading platforms and a security token that provide regulatory clarity to the
blockchain asset industry.” An excerpt from the press release reads:
INX intends to use a portion of the net proceeds raised
from the sale of INX Tokens in the Offering for the continued development and
operation of INX Trading Solutions, a regulated solution for the trading of
blockchain assets, including cryptocurrencies, security tokens, and their
derivatives, and for the establishment of a cash reserve fund.
Bitfarms Ltd. (TSXV:BITF) has entered into a 24-month equipment lease with
BlockFills for 1,000 WhatsMiner M31S+ miners to be delivered and installed in
approximately two weeks. Emi Grodzki, Interim CEO of Bitfarms, commented:
"We are also pleased to partner with BlockFills to
lease 1,000 new generation miners, especially during this period when available
mining equipment inventory is low. Bitfarms is working with BlockFills to enter
into further lease financing over the next few weeks that will allow the
Company to add even more operational capacity. Given the recent rise in Bitcoin
prices, Bitfarms is well-positioned as mining economics continue to improve
after the Bitcoin Halving this past May and we are excited to be able to
continue with the execution of our growth strategy.”
Up Korea reports that the South Korean city
Daegu, the country’s fourth-largest, plans to spend 7.1 billion won (nearly $6
million USD) on education for 4th industrial revolution areas including
blockchain and AI. The city’s Deputy Mayor, Hong Eui-rak, commented:
“Although local companies have been struggling to
secure specialized talents in software fields such as AI and blockchain, it was
regrettable that there was no specialized training program in the region. It
seems that it has provided an opportunity to settle down. I will expand support
to strengthen the digital competitiveness of local companies in line with the government's
digital new deal policy.”
Sam
Mowers, Investorideas
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