#CryptoCorner #Podcast 718: #Stocks discussed: (NasdaqGM: $BITF) (NasdaqCM: $MIGI) (NasdaqCM: $BTBT)

#CryptoCorner #Podcast 718: #Stocks discussed: (NasdaqGM: $BITF) (NasdaqCM: $MIGI) (NasdaqCM: $BTBT)

 

Bitfarms, Mawson Infrastructure Group, and Bit Digital Report Quarterly Results

 

Point Roberts, WA, Delta BC November 17, 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: (NasdaqGM:BITF) (NasdaqCM:MIGI) (NasdaqCM:BTBT)

 

Bitfarms Ltd. (NasdaqGM:BITF) has reported its financial results for the quarter ended September 30, 2021. Highlights from the quarter include the mining of 1,051 Bitcoin (BTC) – an increase of 38 percent from the 759 BTC mined in Q2 this year, and a record net income of $23.7 million – up from a net loss of $3.7 million in Q2. The company’s Founder and CEO, Emiliano Grodzki, said:

 

“Strong growth in production with lower costs of production and favorable Bitcoin market conditions contributed to record quarterly revenues and record profitability in the third quarter of 2021. In fact, we delivered positive earnings from ongoing operations, even while continuing to invest heavily in growth and to scale the business.

 

Bitfarms is building a truly global enterprise by focusing on strategic opportunities to cost effectively leverage our expertise and gain market share. As of today, we have increased our hashrate to over 2 Exahash per second (EH/s) and expanded our production capacity to 106 Megawatts (MW) in Canada and the U.S., with an additional 298 MW in development underway in Canada, Paraguay and Argentina. We are confident we will create additional shareholder value as we continue our efforts to achieve our computational goals of 3 EH/s by March 31, 2022, and 8 EH/s by December 31, 2022.”

 

Mawson Infrastructure Group, Inc. (NasdaqCM:MIGI) has reported its third quarter financial results for the period ended September 30, 2021. Highlights include revenue of $10.9 million – an increase of 1,100 percent from $1.1 million in Q3 of 2020, and gross profit of $8.4 million. The company’s CEO and Founder, James Manning, said:

 

"Q3 was a busy quarter for the team as we successfully listed on the Nasdaq Capital Market, added over 17,000 ASIC bitcoin miners to our fleet, signed a new 100MW facility in Pennsylvania and kicked off the expansion of our Georgia facility which will have 100MW of available energy by early Q1 2022. We now look forward to the significant scale up of operations into year end and beyond and look forward to keeping shareholders up to date on developments on this front in due course."

 

Bit Digital, Inc. (NasdaqCM:BTBT) has announced its unaudited bitcoin production and mining operations update for the third quarter ended September 30, 2021. During the quarter, the company earned 248.36 bitcoins, which marked a decrease from the second quarter, attributed to the migration of its fleet from China. Bit Digital has completed its fleet’s exit from China, and as of September 30, 2021, owns 27,744 miners, “with an estimated total maximum hash rate of 1.603 EH/s.”

 

Sam Mowers, Investorideas

 

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