#CryptoCorner #Podcast 703: #Stocks discussed: (NasdaqCM: $HIVE) (TSXV: $NTE.V) (NasdaqGM: $BITF) (NasdaqCM: $FTFT)
#CryptoCorner #Podcast 703: #Stocks
discussed: (NasdaqCM: $HIVE) (TSXV: $NTE.V) (NasdaqGM: $BITF) (NasdaqCM: $FTFT)
HIVE
Invests in Network Entertainment, Inc. for NFT Business, Bitfarms to Construct
Two New Production Facilities, and Future FinTech Announces Plans for Paraguay
Mining Farm
Point Roberts, WA, Delta BC October 27,
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: (NasdaqCM:HIVE)
(TSXV:NTE) (NasdaqGM:BITF) (NasdaqCM:FTFT)
HIVE
Blockchain Technologies Ltd. (NasdaqCM:HIVE) is investing $450,000 CAD in Network
Entertainment, Inc. (TSXV:NTE), in part as a means to gain exposure
to the latter’s emerging non-fungible token (NFT) business. Frank Holmes,
HIVE’s Executive Chairman, explained:
"Network has a rich portfolio of
intellectual property, and I'm excited to see how it can be monetized using
NFTs. Most NFTs operate on the Ethereum [ETH] network, as does its native currency
Ether, which HIVE mines, along with Bitcoin, using only 100% green renewable
energy. As NFTs increase in demand, so too should the demand for Ether. HIVE is
well positioned to benefit from the increased need for Ether, making its
investment in Network a potential win-win for both companies."
Bitfarms
Ltd. (NasdaqGM:BITF) has announced that it is constructing two new high
power production facilities leased in Sherbrooke, Québec, Canada, scheduled to
be completed in phases during the first and second quarters of 2022. With a
combined capacity of 78 megawatts (MW), the two farms are “expected to
accommodate approximately 21,000 new Bitcoin miners and generate approximately
2.1 Exahash/second (EH/s).” Emiliano Grodzki, CEO of Bitfarms, said:
“Committed to increasing our capacity
and hashrate in a cost-effective manner, we have been working closely with the
City of Sherbrooke to expedite our expansion. Both farms will benefit from our
existing cost-effective contracts that supply green hydro power at an average
cost of just US four cents per kilowatt hour. Similar to all our other Québec
farms, they will be passively cooled by the Canadian climate, reducing total
energy consumption and operating costs. Most importantly, while also minimizing
the risk of disruptions, these farms continue Bitfarms’ strategy of operating
decentralized facilities to boost our capacity and support our goal of
achieving 3 EH/s by the end of first quarter of 2022 and 8 EH/s by the end of
2022.”
Future
FinTech Group Inc. (NasdaqCM:FTFT) has announced plans to build a cryptocurrency
mining farm in Paraguay after having received official invitations from the
country's Minister of Social Development and the Mayor of the City of Coronel
Oviedo. Shanchun Huang, Chief Executive of Future FinTech, cited Paraguay’s
“favorable business policies and competitive energy prices” as reasons for “a
marked increase in cryptocurrency mining activities” in the country. He said:
"Given the government of
Paraguay's support for the cryptocurrency mining business, as well as our
commitment to the space, we plan to carefully assess this development
opportunity in Paraguay. We will work with our local consultant to review
Paraguay's hydroelectric power and clean energy resources, locations for
developing a mining farm and the preferential policy treatment that we might
receive for our capital investment. We will plan upon providing updates to our
shareholders with additional information regarding this potentially important
development for the Company.”
Sam
Mowers, Investorideas
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