#CryptoCorner
#Podcast 844: #Stocks discussed: (NYSE: $BTCM) (CSE: $BIGG.C) (TSXV: $BNXA.V)
BIT Mining Completes First
Closing of Bee Computing Acquisition, and BIGG Digital Assets and Banxa Report
Quarterly Results
Vancouver, Kelowna, Delta, BC May 31,
2022 - Investorideas.com, a leader in
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Stocks
discussed: (NYSE:BTCM) (CSE:BIGG) (TSXV:BNXA)
BIT Mining Limited (NYSE:BTCM) has completed the first closing of its previously
announced share exchange agreement with Bee Computing Limited. Bee computing,
according to the press release, “specializes in the development and manufacture
of cryptocurrency mining chips and mining machines for different
cryptocurrencies,” and “has successfully mass produced over 15,000 units of
supercomputing mining machines, equipped with 7-nanometer E2P chips.” Xianfeng
Yang, CEO of BIT Mining, said:
"We
are pleased to announce the first closing of our Bee Computing acquisition and
are excited about the progress Bee Computing has made in developing and
manufacturing cryptocurrency mining chips and machines. Bee Computing has a
unique R&D team which continues to achieve remarkable milestones. Going
forward, we plan to devote additional resources to assist Bee Computing in its
development and manufacture of more mainstream cryptocurrency mining chips and
machines with increasingly cost-effective performance advantages. We believe
its capabilities will optimize our product offerings and further enhance our
position along the blockchain industry value chain."
BIGG Digital Assets Inc. (CSE:BIGG) has reported its Q1 2022 financial results.
Highlights for the quarter include a net revenue of $1.97 million CAD, a gross
operating revenue of $2.5 million, and the current ownership of 575 Bitcoins (BTC). Mark Binns, CEO of BIGG Digital Assets,
explained:
“Q1
2022 showed continued growth in revenue and expansion for Blockchain
Intelligence Group, setting a new quarterly revenue high exceeding $500k for
the first time, highlighting that our ongoing marketing program is working
well. Netcoins, despite a pullback in trading volumes and revenue, exceeded
industry norms for the quarter, and we believe we gained market share in
Canada. Coinbase, for comparative purposes, saw a 58% decline in retail trading
volume in Q1 vs Q4. Our customer base grew by 24% in Q1, and as volume and
volatility returns to the market, we are very well positioned to take
advantage.”
Banxa Holdings Inc. (TSXV:BNXA) has announced its January to March 2022 quarter
results. Highlights include a 99 percent year-over-year (YoY) growth in revenue
of $41 million USD, and $253 million USD in total transaction value (TTV) for
the quarter. Banxa’s Founder and Chairman, Domenic Carosa, said:
"The
March quarter results show our continued growth not just in commercial volumes
but in our ambition to be the leading fiat on- and off ramp across Web3 in the
most markets. Despite the recent market conditions, we've continued to deliver
another positive growth period with key milestones on our roadmap
reached."
Sam Mowers, Investorideas
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