#CryptoCorner #Podcast 567: #Stocks discussed: (NasdaqCM: $RIOT) (TSX: $GLXY.TO) (NasdaqGS: $CAN)

#CryptoCorner #Podcast 567: #Stocks discussed: (NasdaqCM: $RIOT) (TSX: $GLXY.TO) (NasdaqGS: $CAN)


#Bitcoin Nears ATH Over Weekend Rally, Riot Reports Production and Operations Results for March and Q1, Galaxy Digital Files for Bitcoin ETF, and Canaan Reports 2020 Financials


Point Roberts, WA, Delta BC April 12, 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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Stocks discussed: (NasdaqCM:RIOT) (TSX:GLXY) (NasdaqGS:CAN)


Over the weekend, Bitcoin (BTC) once again reclaimed a trading price above $60,000 USD, getting as high as just over $61,000 briefly as it neared its all-time high established on March 13 this year, according to data from CoinMarketCap. At press time, Bitcoin appears to be holding support with a trading price of roughly $60,300.


Riot Blockchain, Inc. (NasdaqCM:RIOT) has reported a production and operations update for March and the first quarter of 2021. Highlights include the production of 187 BTC, which is an increase of 80 percent over its March 2020 production. The company reported holdings of over 1,565 BTC on its balance sheet, which was all produced by its mining operations. Riot also recently signed a definitive agreement to acquire Whinstone US, Inc., which includes North America’s largest Bitcoin hosting facility, and anticipates a total hash rate capacity of 7.7 EH/s with a fleet of approximately 81,146 Antminers by Q4 2022, resulting from recent miner orders and acquisitions in the past quarter.


Galaxy Digital Holdings Limited (TSX:GLXY) has filed for a bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). An excerpt from the application’s prospectus summary reads:


The Sponsor believes that the design of the Trust will enable certain investors to more effectively and efficiently implement strategic and tactical asset allocation strategies that use bitcoin by investing in the Shares rather than purchasing, holding and trading bitcoin directly.


Such an ETF has yet to receive approval in the U.S., with the SEC having declined several similar applications in the past.


Canaan Inc. (NasdaqGS:CAN) has announced its unaudited financial results for the fourth quarter and full year ended December 31, 2020. This included a decrease in total net revenue from about $210 million USD in 2019 to $68.6 million in 2020. Accompanying this was a year-over-year decrease of 93.1 percent in total computing power sold, falling from 2.9 million THash/s in 2019, to 0.2 million THash/s in 2020.


Sam Mowers, Investorideas


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