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Tuesday, May 31, 2022

#CryptoCorner #Podcast 844: #Stocks discussed: (NYSE: $BTCM) (CSE: $BIGG.C) (TSXV: $BNXA.V)

 



 

 

#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 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: (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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