#CryptoCorner #Podcast 526: #Stocks discussed: (NASDAQ: $CAN) (TSXV: $DMGI.V)

#CryptoCorner #Podcast 526: #Stocks discussed: (NASDAQ: $CAN) (TSXV: $DMGI.V)

 

Canaan Reports Improvement in Revenue Visibility, Argo Enters LOI to Acquire Property in Texas for Mining Facility, and DMGI is Conducting Immersion Cooling Study Ahead of Large-Scale Deployment

 

Point Roberts, WA, Delta BC February 10, 2021 -  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.

 

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https://www.investorideas.com/Audio/Podcasts/2021/021021-CryptoMarket.mp3

 

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Stocks discussed: (NASDAQ: CAN) (LSE:ARB) (TSXV:DMGI)

 

Canaan Inc. (NasdaqGS:CAN) has reported a substantial improvement in its revenue visibility in 2021 “as a result of attaining purchase orders totaling more than 100,000 units of bitcoin mining machines from customers in North America.” The company’s Chairman and CEO, Nangeng Zhang, explained:

 

“We have changed our operations model in 2021. Previously we were selling bitcoin mining machines mostly to individual mining operators who may not have longer-term planning. In late 2020, we shifted our client base to mostly publicly traded companies and bitcoin-focused investment funds which tend to place sizable orders with longer-term commitment. As a result, we can now forecast our revenue much more precisely. Our increased revenue visibility is not only enabling us to plan our production and logistics well in advance, but also helping us to optimize our cost structure and improve our customer satisfaction rate. Above all, it should help us achieve profitable growth for the long run.”

 

Argo Blockchain (LSE:ARB) has entered into a Letter of Intent (LOI) with DPN LLC of New York, to acquire 320 acres of land in West Texas, USA, with access to 800-megawatts of electrical power where it plans to build a new 200mw mining facility in the next 12 months. Speaking of the agreement, Argo CEO Peter Wall said:

 

"It gives Argo tremendous control over our mining operations, as well as significant capacity for expansion. In addition, we have been able to secure access to some of the cheapest renewable energy worldwide in a location where innovation in new technologies is encouraged and incentivised."

 

DMG Blockchain Solutions Inc. (TSXV:DMGI) is conducting an extensive long-term immersion cooling feasibility study, allowing it “to proceed with needed preparations for large-scale deployment in 2021.” Immersion cooling, according to the press release, “will enable DMG to grow its operations in a sustainable way, as well as to reinforce its leadership in the area of innovation-driven Bitcoin mining.” The company’s CTO, Adrian Glover, explained:

 

“Through the use of immersion cooling, we believe we can obtain a 30% uplift on the labelled hashrate on any piece of mining equipment, or up to 130 TH/s from a standard 100 TH/s miner. The long-term future of DMG’s strategy is to run everything possible in immersion. After a short amortization period, our marginal additional infrastructure investment in the form of tanks, dry coolers, pumps, fluid, etc., will create significant gains for DMG and create a competitive advantage beyond what air-cooling can achieve.”

 

Sam Mowers, Investorideas

 

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