#CryptoCorner #Podcast 572: #Stocks discussed: (NasdaqGS: $COIN) (TSXV: $HIVE.V) (TSX: $HUT.TO) (TSXV:$BITF.V) (NasdaqGS: $EQOS)
#CryptoCorner #Podcast 572: #Stocks
discussed: (NasdaqGS: $COIN) (TSXV: $HIVE.V) (TSX: $HUT.TO) (TSXV:$BITF.V)
(NasdaqGS: $EQOS)
#Bitcoin
Tumbles Over Weekend, HIVE Acquires 50MW Data Centre, Hut 8 and Bitfarms
Announce Power Purchase Agreements, and Diginex Reports Record Volumes on EQUOS
Exchange
Point Roberts, WA, Delta BC April 19,
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: (NasdaqGS:COIN)
(TSXV:HIVE) (TSX:HUT) (TSXV:BITF) (NasdaqGS:EQOS)
After
reaching an all-time high trading price of around $64,860 just five days ago,
Bitcoin (BTC) crashed hard on Saturday, and again on
Sunday, according to data from CoinMarketCap. Riding high off of the bullish
mood brought on by the Nasdaq listing of Coinbase (NasdaqGS:COIN) last week, Bitcoin dropped to
as low as about $52,800 yesterday, but has since recovered somewhat to a
trading price of roughly $55,750 at press time. This is being seen, in part, as
a correction from Bitcoin’s, perhaps overzealous, rally last week, as it met
strong resistance at its peak. However, as Cointelegraph reports, some contend that a
major power outage in the Chinese region of Xinjiang – which according to some
sources “represents nearly one-quarter of the global hash rate” – may have
been a contributing factor.
HIVE
Blockchain Technologies Ltd. (TSXV:HIVE) has completed its previously announced acquisition
of a 50 megawatt data centre campus in New Brunswick, Canada from GPU.One
Holding Inc., thereby expanding its Canadian footprint. According to the press
release, this acquisition will “more than double HIVE's total available power
capacity globally to approximately 100 MW, placing it among the largest
of any publicly-listed cryptocurrency miners, and provide significant
diversification to the Company's business both geographically and by blockchain
network.”
Hut
8 Mining Corp. (TSX:HUT) has entered into a power purchase agreement with
Validus Power Corp. to support the company’s operations in the Canadian
province of Alberta. This agreement, part of a strategic partnership between
Hut 8 and Validus Power Corp., will enable the former to initially secure up to
100MW of new power from the project. Todd Shortt, President and CEO of Validus
Power, commented:
"We are seeing the convergence of
bitcoin adoption and energy grow at a rapid pace which is creating demand for
power that is generated efficiently, delivered faster, and with the environment
as a priority. Our commitment to innovation and efficiency, enables us to
provide highly scalable and competitively priced power. We couldn't be more
pleased to make this announcement with such a bold industry leader and we look
forward to growing our relationship with Hut 8."
Bitfarms
Ltd. (TSXV:BITF) has reported the signing of “a significantly
enhanced power purchase agreement with a utility-grade private power producer
in Argentina pursuant to which Bitfarms is entitled to draw up to 210 MW of
electricity at its discretion.” This comes as part of Bitfarms’
previously-announced plan to pursue the development of a Bitcoin mining
facility in Argentina, at which the company anticipates starting Bitcoin mining
in early 2022. According to the press release, the “210 MW is sufficient to
support approximately 55,000 new-generation miners, which could generate
approximately US$650 million of revenues or 11,774 Bitcoin, based on current
difficulty levels and a Bitcoin price of US$55,000.”
Diginex
Limited (NasdaqGS:EQOS) has reported that its crypto exchange, EQUOS, has
registered “record total volumes of over US$1 billion in April month to date,
with average daily volumes during the period increasing over three times
compared to average daily volumes in the prior month.” Diginex CEO Richard
Byworth said:
"The explosive growth on the
exchange validates the roadmap that we have been building over the past couple
of years. We are building a company for the long term that is focused on
providing a viable solution for institutions to access this burgeoning new
asset class. This is just the start."
Sam
Mowers, Investorideas
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