#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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