#CryptoCorner #Podcast 658: #Stocks discussed: (NasdaqGS: $PYPL) (NasdaqCM: $BTBT) (NasdaqCM: $NCTY)
#CryptoCorner #Podcast 658: #Stocks
discussed: (NasdaqGS: $PYPL) (NasdaqCM: $BTBT) (NasdaqCM: $NCTY)
PayPal
Launching Crypto Services in UK, Bit Digital Reports Q2 Financial Results, and
The9 Subsidiary Signs Memorandum for Crypto Mining JV in Kazakhstan
Point Roberts, WA, Delta BC August 23,
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:PYPL)
(NasdaqCM:BTBT) (NasdaqCM:NCTY)
PayPal (NasdaqGS:PYPL) has announced the launch of crypto services for
users in the UK, including the ability to buy, hold, and sell Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). This is the first expansion of
PayPal’s crypto services outside of the U.S. Jose Fernandez da Ponte, Vice
President and General Manager, Blockchain, Crypto and Digital Currencies at
PayPal, commented:
"Our
global reach, digital payments expertise, and knowledge of consumer and
businesses, combined with rigorous security and compliance controls provides us
the unique opportunity, and the responsibility, to help people in the UK to
explore cryptocurrency. We are
committed to continue working closely with regulators in the UK, and around the
world, to offer our support—and meaningfully contribute to shaping the role
digital currencies will play in the future of global finance and commerce."
Bit Digital, Inc. (NasdaqCM:BTBT) has reported its unaudited financial results
for the second quarter ended June 30, 2021. Highlights include a bitcoin mining
revenue of $28.3 million, and 562.9 bitcoins earned in the period. The
following excerpt from the press release outlines the role of bitcoin mining in
the company’s funding:
Funding
our operations on a go-forward basis will rely significantly on our ability to
continue to mine cryptocurrency and the spot or market price of the
cryptocurrency we mine. We expect to generate ongoing revenues from the
production of cryptocurrencies, primarily bitcoin, in our mining facilities.
Our ability to liquidate bitcoin at future values will be evaluated from time
to time to generate cash for operations.
NBTC Limited, the wholly-owned subsidiary
of The9 Limited (NasdaqCM:NCTY), has signed a non-binding
investment memorandum with Kazakhstan company LGHSTR Ltd. to establish a crypto mining joint venture in
Kazakhstan. The planned mining sites intend to achieve a total capacity of
200MW within two years, and will be “expected to be able to deploy more than
50,000 S19 Antminers and accommodate about 5EH/s of hash power.” Cai Zhifang,
CEO of NBTC Ltd., said:
"The9
is actively developing the globalization of its cryptocurrency mining business.
The first batch of hash power has been restored in Kazakhstan in early August
this year and has been operating stably. If the cooperation with our worldwide
mining facilities partners progresses smoothly, we expect to restore
approximately 50% of our original hash power by the end of October this year,
and we plan to restore all our original hash power and add new hash power
before the end of this year.”
Sam
Mowers, Investorideas
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