#CryptoCorner Episode 474: HIVE (TSXV: $HIVE.V) Purchases 1,240 Miners from DMG (TSXV: $DMGI.V) and Bitfarms (TSXV: $BITF.V) Installs 2,000 Miners Over Weekend

#CryptoCorner Episode 474: HIVE (TSXV: $HIVE.V) Purchases 1,240 Miners from DMG (TSXV: $DMGI.V) and Bitfarms (TSXV: $BITF.V) Installs 2,000 Miners Over Weekend

 


Point Roberts, WA, Delta BC November 9, 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 cryptocurrency stocks and the crypto market.

 

Listen to today’s Crypto Corner Podcast:  

https://www.investorideas.com/Audio/Podcasts/2020/110920-CryptoMarket.mp3

 

Read this in full at https://www.investorideas.com/news/2020/crypto-corner/11091HIVE-DMGI-BITF.asp

 

Get the Crypto Corner Podcast on iTunes

 

Get the Crypto corner on Spotify

 

Stocks discussed: (TSXV:HIVE) (TSXV:DMGI) (TSXV:BITF)

 

Bitcoin (BTC) has maintained much of the gains from its recent rally, trading for about $15,285 at press time, according to data from CoinMarketCap. It lost a bit of steam briefly on Saturday, when it took a dive of around $1,000, falling from around $15,500 to $14,500 in the space of a few hours. This did not last long, however, before Bitcoin started climbing back up, and reached the $15,500 mark again earlier on Sunday.

 

HIVE Blockchain Technologies Ltd. (TSXV:HIVE) is expanding its bitcoin mining efforts with the announcement of a “purchase and immediate hashing of 1,240 MicroBT WhatsMiner M30S miners with an aggregate operating hash power of 113 Petahash per second (PH/s). This addition increases HIVE’s aggregate operating hash rate from 116 PH/s to 229 PH/s. Frank Holmes, the company’s Interim Executive Chairman, said:

 

"The vision of the Company is to achieve an aggregate operating hash power of 1,000 PH/s within the next 12 months.”

 

The company also provided an Ethereum (ETH) mining update, revealing that it mined more than 32,000 Ethereum in the quarter from July 1 to September 30, 2020. This represents an increase “from the approximately 25,000 Ethereum mined in HIVE's first fiscal quarter ended June 30, 2020, and a more than 50% increase compared to the same period last year,” according to the press release.

 

DMG Blockchain Solutions Inc. (TSXV:DMGI) has added HIVE as a hosting client, to whom it sold the previously-mentioned 1,240 M30s miners for $3.4 million. The press release indicates that this money will go toward “equipment financing charges and to potentially secure DMG’s upcoming mining fleet.” DMG’s CEO Dan Reitzik said:

 

"DMG is excited to add Hive as a new hosting client and partner. This transaction strengthens DMG's balance sheet as we continue to work towards our self-mining goals, and to ensure DMG's fleet continues to be newest generation technology. We will provide an update detailing our miner purchase strategy in the near future.”

 

Over the weekend, Bitfarms Ltd. (TSXV:BITF) saw the arrival and installation of 2,000 new generation miners at its renovated and upgraded datacentre located in Farnham, Quebec. This installation increases the company’s mining operations by approximately 144 petahash per second. Bitfarms Interim CEO, Emiliano Grodzki, commented:

 

"November has been an amazing month for Bitfarms. Bitcoin prices have been increasing quickly, the difficulty factor recently decreased, and the Company is busy installing thousands of new miners. Bitfarms is proud to be a fundamental contributor to the global Bitcoin infrastructure and to be part of the ongoing paradigm shift. We are very excited about the future."

 

Sam Mowers, Investorideas

 

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

 

Investors can trade these stocks and other ideas on our site using our list of top stock trading apps including Robinhood , Acorn, Stash  and others.

About Investorideas.com - News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news, research and original financial content. Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea’s original branded content includes the following podcasts and columns : Crypto Corner , Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column,  Cleantech and Climate Change , Exploring Mining  the AI Eye .

 

The Crypto Corner is part of the Investor Ideas Membership content

 

The Investorideas.com podcasts are also available on iTunes,  Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio and Google Play Music.

 

Visit the Podcast page at Investorideas.com: https://www.investorideas.com/Audio/

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

 

Cryptocurrency Disclaimer

Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.

 

Copyright and ownership: Crypto Corner is an Investorideas.com content brand

 

Follow us on Twitter https://twitter.com/Investorideas

Follow us on Facebook https://www.facebook.com/Investorideas

Follow us on YouTube https://www.youtube.com/c/Investorideas

Download our Mobile App for iPhone and Android  

 

Join our Investor Club https://www.investorideas.com/membership/

 

Contact Investorideas.com

800-665-0411

 

 



Get more Bitcoin and Blockchain Investor ideas  – news, articles, podcasts and stock directories 

Comments