#CryptoCorner #Podcast 686: #Stocks discussed: (NasdaqCM: $MARA) (NasdaqGS: $HUT) (NasdaqGS: $EBON)
#CryptoCorner
#Podcast 686: #Stocks discussed: (NasdaqCM: $MARA) (NasdaqGS: $HUT) (NasdaqGS:
$EBON)
Marathon
and Hut 8 Publish September Updates, and Ebang International Announces Six
Month Financial Results
Point Roberts, WA, Delta BC October 4,
2021 - Investorideas.com, a leader in
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Stocks discussed: (NasdaqCM:MARA)
(NasdaqGS:HUT) (NasdaqGS:EBON)
Marathon Digital Holdings, Inc. (NasdaqCM:MARA) has published unaudited bitcoin (BTC) production and miner installation updates
for the month of September 2021. Highlights include third quarter production of
1,252.4 newly-minted bitcoins – an increase of 91 percent
quarter-over-quarter, and the production of 340.6 newly-minted bitcoins during
September alone. The company also announced a new $100 million revolving line
of credit (RLOC) with Silvergate Bank. CEO Fred Thiel explained:
“Due
to Marathon’s positive track record, our growth trajectory, our position as one
of the largest holders of bitcoin among publicly traded companies in the U.S.,
and the broader maturation of our industry, we were able to obtain a $100
million revolving line of credit with Silvergate Bank, which is secured by our
bitcoin holdings and USD. This instrument is consistent with our strategy to
focus on agility as it enhances our ability to act opportunistically and in a
manner that is efficient for both our business and our shareholders. By having
this line of credit in place, we believe Marathon is better positioned to
continue growing over the coming quarters.”
Hut 8 Mining Corp. (NasdaqGS:HUT) has shared its own corporate update featuring
production highlights for the month of September 2021. During the month, the
company mined 264 bitcoins – with an average production rate of 9.11 bitcoins
per day, and received and installed “600 servers consisting of 2400 NVIDIA
cryptocurrency mining processors ("CMPs") graphics processing unit
("GPUs"), resulting in a daily earning of 7.10 ETH, equivalent to 0.5 BTC/day totaling
$25,000 CAD in income per day.” Hut 8’s CTO, Jason Zaluski, commented:
"Our
current capacity of deployed CMP GPU miners will continue to earn $25,000 CAD
per day, ramping up to the full capacity earnings over this period, which is
expected to be at $110,000 CAD per day, based upon current mining economics.
Hut 8's full CMP deployment has been hampered by the supply chain constraints
and manufacturing shortages many industries are experiencing globally,"
said Jason Zaluski, Chief Technology Officer, Hut 8 Mining. "We continue
to work with our technology partners and we anticipate this issue to be
resolved early in Q4."
Ebang International Holdings Inc. (NasdaqGS:EBON) has announced its unaudited financial results for the
first six months of fiscal year 2021. The company, which manufactures Bitcoin
miners and designs ASIC chips, recorded net revenues of $18.30 million
– up 65.69 percent period-over-period from 2020, and a gross profit of
$5.64 million. Dong Hu, Ebang’s Chairman and CEO, outlined some of the
company’s plans moving forward:
“To
achieve long-term stable growth, the company plans to vigorously develop
financial technology (FinTech) business, while steadily carrying out research
and development as well as sales business of mining machines of Bitcoin and
other cryptocurrencies such as Litecoin [LTC] and Dogecoin [DOGE]. The Company plans to gradually
launch software-as-a-service (SaaS) businesses on some of its platforms, aiming
to provide a full set of FinTech solutions to industry players who lack
technical support and security.”
Sam
Mowers, Investorideas
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