#CryptoCorner #Podcast 846: #Stocks discussed: (NasdaqCM: $CLSK) (NYSEAmerican: $NILE) (TSXV: $DMG.V)

 

  

#CryptoCorner #Podcast 846: #Stocks discussed: (NasdaqCM: $CLSK) (NYSEAmerican: $NILE) (TSXV: $DMG.V)

 

CleanSpark and BitNile Report Updates from May, and DMG Blockchain Posts Q1 Results

 

Vancouver, Kelowna, Delta, BC June 2, 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: (NasdaqCM:CLSK) (NYSEAmerican:NILE) (TSXV:DMG)

 

CleanSpark, Inc. (NasdaqCM:CLSK) has posted its unaudited Bitcoin (BTC) production and operations update for the calendar year-to-date ending May 31, 2022. Highlights include the production of 312 BTC in the month (1,523 for the calendar year), total Bitcoin holdings of 550, and a “currently deployed fleet of over 25,000 latest-generation bitcoin miners with a hashrate over 2.5 EH/s.” According to the press release “The Company fully funded growth and operations through the sale of 210 bitcoins in May 2022 at an average of approximately $32,639 per BTC. Sales of BTC equated to proceeds of approximately $6.9 million.”

 

BitNile Holdings, Inc. (NYSEAmerican:NILE) has published an unaudited update on its Bitcoin production and miner installation. The company has mined a total of 210.1 Bitcoin, 39 of which were mined in the month of May alone. BitNile also increased its miner count to 7,605 S19j Pro Antminers in possession, which once installed will generate a combined processing power of “approximately 760 petahashes per second.” Milton "Todd" Ault, III, the company’s Executive Chairman, said:

 

"Our mining production continues to grow as planned. We are not only increasing power availability at our facility in Michigan but are also considering other mining sites throughout the country. I will continue to state that our focus remains on the goal of becoming one of the larger publicly traded Bitcoin miners in the country."

 

DMG Blockchain Solutions Inc. (TSXV:DMG) has reported its financial results for the quarter ended March 31, 2022. Highlights for the period include revenues of $11.9 million – an increase of 377 percent from the same period last year, 372 BTC held as of March 31, 2022, and a hashrate increase to 595 PH/s. Sheldon Bennett, the company’s CEO, said:

 

“We are excited about our opportunity in calendar 2022; the Company continues toward its execution goals for its Core and Core+ strategies: powering 1-exahash of Bitcoin self-mining, launching Terra Pool to enable industrial miners beyond its charter members that seek to be on a 100% renewable energy pool, and delivering software products that enable the monetization of bitcoin transactions that meet the highest levels of regulatory compliance.”

 

Sam Mowers, Investorideas

 

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