#CryptoCorner 706: #Stocks discussed: (NasdaqGS: $HOOD) (NasdaqGM: $BITF) (TSXV: $FORT.V)

 

 

#CryptoCorner 706: #Stocks discussed: (NasdaqGS: $HOOD) (NasdaqGM: $BITF) (TSXV: $FORT.V)

 

Burger King Partners with Robinhood for Crypto Rewards, Bitfarms Shares Bitcoin Production Update, and Fortress Technologies Purchases 4,500 Miners

 

Point Roberts, WA, Delta BC November 1, 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:HOOD) (NasdaqGM:BITF) (TSXV:FORT)

 

Cointelegraph reports that fast-food giant Burger King has partnered with investment and financial services firm Robinhood (NasdaqGS:HOOD) to give away free cryptocurrency to its customers. Burger King customers in the United States who spend $5 or more will be given free crypto from Nov. 1 to Nov. 21. This will be “primarily in the form of Dogecoin (DOGE),” but a “few lucky customers will have the opportunity to win a whole Bitcoin (BTC) or Ether (ETH).” Robinhood’s head of partnerships, Vikram Grover, is quoted in The Drum:

 

“Cryptocurrencies have become an important part of the financial world over the last decade. However, many Americans interested in this asset class don’t know how to start their journey or feel that the system isn’t built for them. [This promotion will be] reaching a new – and existing – audience for us, and we hope to help people start their crypto journey and take their first bite into crypto.”

 

Bitfarms Ltd. (NasdaqGM:BITF) has shared a Bitcoin production update for the month of October 2021. Highlights include the achievement of 1.8 EH/s, effective October 25, 2021, 343 new bitcoins mined during the month, and 1+ BTC mined daily on average. The company also received and installed 2,869 Bitmain S19j Pro miners and 300 MicroBT M30S miners. Emiliano Grodzki, Bitfarms Founder and CEO, said:

 

“The increase in month-over-month production in October 2021 represents a further advancement for Bitfarms and shows the initial benefit generated as a result of production from our newly built, larger production facility in Cowansville, Québec. This, in conjunction with recent miner deliveries and ongoing fleet optimization, contributed to our achieving a record hashrate of 1.8 exahash per second (EH/s) in late October. With new miner deliveries en route and deliveries continuing throughout November, this month we expect to grow our hashrate to over 2 EH/s and improve our electrical efficiency to 44 watts per terahash (W/TH).”

 

Fortress Technologies Inc. (TSXV:FORT) has purchased 4,500 Bitmain Antminer S19j Pro bitcoin mining machines, boasting 100 TH/s, which “are expected to be delivered in equal monthly installments from April through September 2022.” According to the press release, this “adds 450 PH/s to the Company’s total contracted hash rate, more than tripling its previous contracted hash rate of 195 PH/s.” Fortress’s CEO, AJ Scalia, said:

 

"We have ambitions to build a category defining business at the intersection of bitcoin mining and energy as these two sectors continue to converge. With this order, Fortress takes a significant step in that direction.”

 

Sam Mowers, Investorideas

 

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