#Cryptocurrency Companies Betting on Future of #Bitcoin (OTC: $ISWH) (NASDAQ: $MARA) (NASDAQ: $RIOT) (OTCQX: $HVBTF) @iswholdings; @MarathonPatent @RiotBlockchain @HiveBlockchain
#Cryptocurrency Companies Betting on Future
of #Bitcoin (OTC: $ISWH) (NASDAQ: $MARA)
(NASDAQ: $RIOT) (OTCQX: $HVBTF) @iswholdings; @MarathonPatent @RiotBlockchain @HiveBlockchain
Point Roberts WA,
Delta BC – January 14, 2020 – Investorideas.com, a global investor news source covering
blockchain and cryptocurrency issues a special news report looking at recent
news and developments in the bitcoin/cryptocurrency sector.
Miners have been ramping up capacity in expectation
of higher Bitcoin prices and as it reached a recent high on January 8th of just under $42,000, it looks like the bet will pay
off in 2021. Other companies in the sector are capitalizing on the historic
rise by investing directly in Bitcoin.
Read this news, featuring ISWH in full at https://www.investorideas.com/news/2021/crypto-corner/01141ISWH-MARA-RIOT-HVBTF.asp
ISW Holdings, Inc. (OTC: ISWH) is leveraging its bet both ways. The Company just announced that it is in the process of converting $20,000 of the Company's cash holdings into Bitcoin. The Company also announces that it will be regularly conducting similar transactions on a quarterly basis to convert a percentage of cash flows into Bitcoin.
From the news:
Management expects this transaction to be completed this week. The Company
began transitioning cash resources into Bitcoin with an initial transaction in
March 2019 at approximately $4,000/Bitcoin.
Continued: "We
believe in the future of Bitcoin and digital payment systems, and cash
represents an unproductive asset given the degree of monetary expansion,
stimulus, and debt dragging down traditional currency systems," commented
Alonzo Pierce, President and Chairman of ISW Holdings. "We are also on
schedule to launch mining operations through our S19 Pod5 solution at the Bit5ive
renewable energy project by the end of January."
Continued: The
Company formed a joint venture partnership with Bit5ive, LLC,
("Bit5ive") in May to build and deliver an elegant, powerful, and
efficient data center pod design. The Proceso S19 Pod5ive Datacenter is the
result. Designed in partnership with Bit5ive, and geared primarily for the
cryptocurrency mining industry, the Proceso S19 Pod5ive Datacenter offers
next-generation dynamic self-management functionality, plug-and-play operation,
virtually non-existent maintenance needs, and an industry best-in-class 1.06
Power Usage Effectiveness score.
Continued: The
Company's first mining pod is set to launch operationally before the end of
January.
Riot Blockchain, Inc. (NASDAQ: RIOT) in late December announced an
expected 65% increase in bitcoin mining hash rate capacity resulting from the
purchase and future deployment of 15,000 S19 Pro and S19j Pro Antminers from
Bitmain Technologies Limited (“Bitmain”). The approximate $35 million purchase
is comprised of 3,000 S19 Pro Antminers (110 TH) and 12,000 S19j Pro Antminers
(100 TH). These additional miners are scheduled for receipt and deployment
starting in May 2021 and continuing through October 2021.
From the news: This new order of miners, combined with the
Company’s prior miner purchases, is expected to significantly increase Riot’s
estimated bitcoin mining hash rate from the previously announced 2.3 EH/s to
3.8 EH/s. The Company has been receiving and deploying new miners consistently
through 2020, including this new purchase; the delivery schedule continues into
the fourth quarter of 2021.
Continued: At full deployment of Riot’s 37,640
next-generation fleet of miners, Riot estimates its total operational hash rate
capacity will be 3.8 EH/s and consume approximately 120 MW of energy. As a
result, the Company expects to have an aggregate mining efficiency of 31.79±% 5
joules per terahash (J/TH).
Continued: “Continued growth in deployed miners is
paramount to a miner’s success,” said Jeff McGonegal, CEO of Riot. “Expanding
the Company’s bitcoin mining hash rate and operating on a cost-effective basis
is very important, particularly during periods when the bitcoin spot price has
appreciably increased. We are pleased to have secured this latest purchase,
especially given that the available supply of mining hardware continues to
become increasingly scarce.”
Continued: "We are extremely excited to expand and
deepen our partnership with Riot Blockchain again this year. In total, Riot additionally purchased 15,000
Antminer 19 series. The 19 series enjoy a wide popularity in the global markets
with outstanding hash rates and power efficiency, which continuously bring
tremendous values to our customers around the world. I am confident that with
the new purchase, Riot can continue to grow their mining operation and play an
increasingly vital role in bitcoin mining across North America.” said Irene
Gao, Antminer Sales Director of NCSA Region, Bitmain.
HIVE Blockchain
Technologies Ltd. (TSX.V:HIVE)(OTCQX:HVBTF)(FSE:HBF) recently announced the purchase of
4,180 MicroBT WhatsMiner M31S+ next generation miners with an aggregate
operating hash power of 334 Petahash per second (PH/s) as it continues to
expand its bitcoin mining operations.
From the news: With the addition
of these 4,180 MicroBT WhatsMiner M31S+ Miners, HIVE's aggregate operating hash
rate from Bitcoin mining to almost double to an estimated 653 PH/s.
Continued: Based on the
orders that have been placed, this new equipment is expected to be delivered in
9 tranches in 2021, with 180 miners delivered in April and 500 miners delivered
in each month in the remainder of calendar 2021 commencing with May delivery.
Continued: These secured
orders are the continuing steps that HIVE is taking towards the vision to
achieve an aggregate operating hash power of 1,000 PH/s by the end of calendar
2021, all funded out of operational cash flows. With these secured purchases
the Company has taken a huge step towards its goal.
Marathon Patent Group, Inc. (NASDAQ:MARA), one of the largest
enterprise Bitcoin self-mining companies in North America looking at
significant expansion announced that it has entered into securities purchase
agreements with several institutional investors for the purchase and sale in a
registered direct offering of 12,500,000 shares of its common stock at an
offering price of $20.0 per share.
The gross proceeds of this offering are
expected to be $250 million, before deducting placement agent fees and other
offering expenses payable by Marathon. The Company intends to use the net
proceeds of this offering for general corporate purposes and to fund ongoing
operations and expansion of its business.
On December 9th
the company announced it entered into a contract with Bitmain to
purchase 10,000 Antminer S-19j Pro ASIC Miners.
From the news: Under the terms of the agreement, Marathon
will receive an initial batch of 6,000 S-19j Pro Miners in August 2021. The
remaining 4,000 miners will be delivered in September 2021.
Continued: Once all of Marathon’s purchased miners are
delivered and fully deployed, the Company’s mining portfolio will consist of
33,560 state of the art ASIC miners, generating 3.56 EH/s. As a result, the
Company will be consuming approximately 100 MWs of power, the maximum amount
available at the Company’s data center in Hardin, MT.
With the recent pullback of Bitcoin after
reaching its all-time high, some investors have been scared out of market due
to the volatility and the industry is calling for regulation. One firm, JPMorgan, is still very bullish for
the future of the digital currency long term.
BNN Bloomberg quotes JP Morgan: “A
crowding out of gold as an ‘alternative’ currency implies big upside for
Bitcoin over the long term,” the strategists wrote Monday. However, “a
convergence in volatilities between Bitcoin and gold is unlikely to happen
quickly and is in our mind a multiyear process. This implies that the
above-US$146,000 theoretical Bitcoin price target should be considered as a long-term
target.”
For the miners- the game is on for
2021 as they get funded and expand capacity.
Investors can trade these stocks and other
ideas on our site using our list of top stock trading apps
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