#CryptoCorner #Podcast Episode 482: Bitfarms (TSXV: $BITF.V) Reports Q3 Financial and Operating Results and Libra (NasdaqGS: $FB) to Launch as USD-Backed Stablecoin in Early 2021

#CryptoCorner #Podcast Episode 482: Bitfarms (TSXV: $BITF.V) Reports Q3 Financial and Operating Results and Libra (NasdaqGS: $FB) to Launch as USD-Backed Stablecoin in Early 2021


Point Roberts, WA, Delta BC November 27, 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:  



Read this in full at https://www.investorideas.com/news/2020/crypto-corner/11271Bitfarms-Libra.asp


Get the Crypto Corner Podcast on iTunes


Get the Crypto corner on Spotify


Stocks discussed: (TSXV:BITF) (NasdaqGS:FB)


Bitcoin (BTC) is down. After nearing its all-time trading price high on Wednesday, the cryptocurrency fell around $3,000 from close to $19,400 to as low as about $16,470, according to data from CoinMarketCap. This roughly 12 percent drop is the biggest decline seen in the market since March of this year, when Bitcoin crashed from about $7,900 down to around $4,475. A report from CoinDesk quotes Ki Young Ju, CEO at analytics firm CryptoQuant:


“I think this is a correction before we break $20,000. Other long-term on-chain indicators like BTC and stablecoin reserve say the potential buying pressure still prevails so far.”


An article responding to the selloff and subsequent crash from Bloomberg outlines indications that Bitcoin is in a more robust position than its 2017 bull run and ensuing crash.The article quotes Mati Greenspan, chief executive of market advisory firm Quantum Economics in Tel Aviv:


“It’s different now. The last time we saw Bitcoin get this high, the blockchain was close to collapsing, but the network has had improvements since then.”


Bitfarms Ltd. (TSXV:BITF) has announced its financial and operating results for the third quarter ended September 30, 2020. Highlights include revenues of $6.8 million, gross mining profit of $1.6 million, and the entering into lease agreements for 3,000 Whatsminer Miners. Mauro Ferrara, Interim Chief Financial Officer of Bitfarms, said:


"As anticipated, the May 2020 Bitcoin Halving event negatively impacted most of our financial metrics for the quarter. However, gross mining profit and adjusted EBITDA remained in positive territory, and Bitcoin mining economics have stabilized and improved significantly subsequent to Q3. Operationally, we added one thousand WhatsMiner M31S in September, increasing mining computing power by approximately 82PH/s.”


The Financial Times reports that Libra, the digital payments project from Facebook (NasdaqGS:FB), may launch in the form of a U.S. dollar-backed stablecoin in January of 2021. The exact launch date is still unknown, and is pending on approval by the Swiss Financial Market Supervisory Authority (FINMA). Though beginning by being backed by the U.S. dollar, Libra will gradually see the addition of more fiat currencies into the basket of assets that go toward its value.


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




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


  1. MintonBlock is a leading digital asset investment firm and one of the largest institutional owners of cryptocurrencies. To know more information visit Best Bitcoin 401k investment plan


Post a Comment