#CryptoCorner #Podcast 772: #Stocks discussed: (NasdaqCM: $CLSK) (NasdaqGS: $EBON) (CSE: $BIGG.C)
#CryptoCorner
#Podcast 772: #Stocks discussed: (NasdaqCM: $CLSK) (NasdaqGS: $EBON) (CSE: $BIGG.C)
CleanSpark Shares Q1
Financial Results, Ebang Announces Approval for Digital Exchange in Australia,
and BIGG Digital Assets Makes Investment in TerraZero Technologies
Vancouver, Kelowna, Delta, BC February
10, 2022 - Investorideas.com, a leader
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Stocks
discussed: (NasdaqCM:CLSK) (NasdaqGS:EBON) (CSE:BIGG)
CleanSpark, Inc. (NasdaqCM:CLSK) has shared its financial results for the
three months ended December 31, 2021 (Q1 of FY2022). Highlights include
quarterly revenues of $41.2 million and a net income of $14.5 million. The
company’s Chief Financial Officer, Gary A. Vecchiarelli, said:
“Our strong financial results are
evidence of the operating leverage of our business model. Gross margins remain
high at almost 80%, and much of that profitability translates to the bottom
line as we saw $14.5m of net income and $24.1m of Adjusted EBITDA, which
represents net margins of approximately 35% and 58%, respectively. CleanSpark
also has zero long-term debt, and we will be looking to use our strong balance
sheet and operating cash flows as a springboard for future growth expansion.”
Ebonex Australia, a wholly-owned subsidiary of Ebang
International Holdings Inc. (NasdaqGS:EBON), has announced that it has received registration
approval from Australian Transaction Reports and Analysis Centre (AUSTRAC) as a
digital currency exchange as of December 3, 2021. Dong Hu, Ebang’s Chairman and
CEO, commented:
“We consider Australia a major financial
hub and recognize its significant influence in the global market; therefore,
receiving the DCE approval is of great importance to us. Our cryptocurrency
exchange project team, which consists of senior industry technical experts, has
been developing and testing the cryptocurrency exchange tirelessly, and we
anticipate that the exchange will be introduced to the market in the near
future. We are confident that the DCE approval will add substantial value to
our business growth and believe this latest approval is the most recent milestone
in the Company’s transformation into a diversified and vertically integrated
blockchain company with comprehensive involvement in the value chain of the
blockchain industry. We will continue leveraging our technological strengths to
contribute to the development of the cryptocurrency exchange business.”
BIGG Digital Assets Inc. (CSE:BIGG) has made a strategic investment of $9.8
million CAD in TerraZero Technologies Inc. for 14 million common shares and 2
million warrants, making for a total investment of $10 million in the latter.
According to the press release, TerraZero aims “to Develop, Acquire, and
Finance the Metaverse’s most promising companies, entrepreneurs, and
developers.” Dan Reitzik, TerraZero’s CEO, explained:
“We are thrilled to welcome BIGG as a
major shareholder in TerraZero. Mr. Binns and his team support our vision, and
with their investment, we can accelerate the launch of our proprietary
technologies, and continue the growth of our studio business supporting clients
including Atlantic Records, a Fortune 500 beverage brand, and other global brands
in their quest to enter the Metaverse economy in a meaningful way. All land,
buildings, storefronts, wearables, and just about everything in the Metaverse,
is secured as a digital asset NFT on a blockchain. As such the Metaverse is a
natural expansion for BIGG Digital Assets.”
Sam Mowers, Investorideas
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