#CryptoCorner #Podcast 646: #Stocks discussed: (NasdaqGS: $HUT) (CSE: $BIGG.C) (NasdaqCM: $NCTY)

 

 

#CryptoCorner #Podcast 646: #Stocks discussed: (NasdaqGS: $HUT) (CSE: $BIGG.C) (NasdaqCM: $NCTY)

 

Hut 8 Provides Mining Production Update for July, BIGG Makes $200K Strategic Investment in ZenLedger, and The9 Subsidiary NBTC to Establish JV with KazDigital

 

Point Roberts, WA, Delta BC August 4, 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:HUT) (CSE:BIGG) (NasdaqCM:NCTY)

 

Hut 8 Mining Corp. (NasdaqGS:HUT) has shared a corporate update including highlights of its mining production for the month of July 2021. According to the release, the company saw ​​300 Bitcoin (BTC) mined, making for an average production of 9.7 Bitcoin per day, and received and installed 920 net new machines, adding 73 PH/s to its production rate. Jaime Leverton, CEO of Hut 8, explained:

 

"Since our IPO in early 2018, Hut 8 has been a significant producer of Bitcoin in North America. With the recent ban on Bitcoin mining in China, Hut 8 has nearly doubled its market share and is currently producing approximately 10 Bitcoin per day. Reports suggest that the exodus of miners from China may take an extended period to resolve and global network hash rate could remain depressed well into 2022. With 109 MW of installed power in Alberta, and with a third site being stood up in the fourth quarter of 2021, Hut 8 is well positioned to take advantage of favorable Bitcoin mining economics expected to continue into 2022."

 

BIGG Digital Assets Inc. (CSE:BIGG) has announced a strategic investment of $200,0000 in crypto tax software startup ZenLedger. According to the press release, “ZenLedger aggregates user transaction information across thousands of exchanges, wallets, and tokens into one simple dashboard, making it easy to calculate tax liability and make financial decisions.” Mark Binns, CEO of BIGG, said:

 

“As part of a compliant and regulated future for crypto, where adoption goes mainstream, tax calculation and reporting will continue to become even more essential in the crypto ecosystem. Our investment in ZenLedger, joined by an elite set of crypto investors, shows our support for an established group of entrepreneurs and our commitment to continued leadership in the cryptocurrency sector.”

 

NBTC Limited, a wholly-owned subsidiary of The9 Limited (NasdaqCM:NCTY), has signed a non-binding term sheet on the establishment of a joint venture with Kazakhstan crypto mining company KazDigital Ltd, to build a cryptocurrency mining site with a capacity of 100MW. Cai Zhifang, CEO of NBTC Limited, explained:

 

"We believe that we should capture the current unique opportunity of the rapidly changing cryptocurrency mining environment and should accelerate the deployment of our mining machines. In the near future, we will continue to actively seek for low-cost electricity and sustainable energy mining facilities in different regions of the world to accelerate the deployment of large-scale cryptocurrency mining machines for ourselves and other partners by both self-construction of mining facilities and hosting cooperation with mining facilities companies.”

 

Sam Mowers, Investorideas

 

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