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Tuesday, June 7, 2022

#CryptoCorner #Podcast 849: #Stocks discussed: (NasdaqGS: $CORZ) (NasdaqGS: $ARBK) (NasdaqCM: $MIGI)

 



 

 

#CryptoCorner #Podcast 849: #Stocks discussed: (NasdaqGS: $CORZ) (NasdaqGS: $ARBK) (NasdaqCM: $MIGI)

 

Core Scientific and Argo Blockchain Post May Updates, and Mawson Becoming 33% Shareholder of Tasmania Data Infrastructure

 

Vancouver, Kelowna, Delta, BC June 7, 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.

 

Listen to today’s Crypto Corner Podcast:  

https://www.investorideas.com/Audio/Podcasts/2022/060722-CryptoMarket.mp3

 

Read this in full at https://www.investorideas.com/news/2022/crypto-corner/06071CORZ-ARBK-MIGI.asp

 

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Stocks discussed: (NasdaqGS:CORZ) (NasdaqGS:ARBK) (NasdaqCM:MIGI)

 

Core Scientific, Inc. (NasdaqGS:CORZ) has announced its production and operational updates for the month of May 2022. Highlights include the production of over 1,138 bitcoins (BTC), as well as the operating of its own fleet of more than 90,000 ASICs servers, producing 9.2 EH/s. The company’s CEO, Mike Levitt, commented:

 

"We are now operating over 170,000 high-performance ASICs servers in our five data centers and produced 1,138 bitcoins for our own account in May, more than any other public company in North America. Our scale and balance sheet provide the flexibility to continue to invest in our growth and pursue opportunities that may arise from the recent market and industry dislocation."

 

Argo Blockchain (NasdaqGS:ARBK) has also posted an operational update for May. Highlights include the mining of 124 Bitcoin or Bitcoin Equivalents, the holding of 2,379 Bitcoin, and mining revenue of $3.89 million USD for the month. The company’s CEO, Peter Wall, said:

 

"We have officially commenced mining at our new facility, Helios, ahead of schedule, bringing to fruition months of hard work and planning. The team expected minor issues and downtime as we brought systems online, but we've completed 25% of the machine swap with Core Scientific and installed an additional 300 PH/s, increasing our total hashrate capacity to 1.9 EH/s.”

 

Mawson Infrastructure Group, Inc. (NasdaqCM:MIGI) has announced that it will become a 33 percent shareholder in Tasmania Data Infrastructure Pty Ltd (TDI). The latter, according to the press release, is developing “a large-scale, 100 percent renewable energy Bitcoin Mining facility at the Que River Mine Site in Tasmania, Australia with up to 35 megawatts of energy infrastructure available for Bitcoin Mining in Q3, 2022,” where “Mawson will … have the right to host up to 10MW of its own Bitcoin Mining infrastructure.” James Manning, CEO and Founder of Mawson, said:

 

“The team at TDI are rapidly developing a high-quality, large-scale Bitcoin Mining facility in Tasmania, where the climate is ideal and the energy profile being 100% renewable is also very attractive. By exchanging a portion of our ASIC Bitcoin Mining fleet for an equity position in TDI, we have continued to demonstrate our capital discipline whilst obtaining a meaningful equity position in one of Australia’s largest emerging, 100% renewable energy Bitcoin Miners. We are looking forward to their initiation of mining activities in Q3, 2022 and expansion beyond."

 

Sam Mowers, Investorideas

 

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