#CryptoCorner #Podcast 872: #Stocks discussed: (NasdaqCM: $MARA) (NasdaqCM: $CLSK)
#CryptoCorner
#Podcast 872: #Stocks discussed: (NasdaqCM: $MARA) (NasdaqCM: $CLSK)
Commentary on BTC from
BitBull Capital CEO Joe DiPasquale, Marathon Reports Q2 Results, and CleanSpark
Acquires Mining Facility in Georgia
Vancouver, Kelowna, Delta, BC August 9,
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.
The Investor
ideas Crypto Corner was named one of 14 Best Crypto & Blockchain Podcasts
for Jun 2022: https://www.yoreoyster.com/blog/best-crypto-podcasts/
Listen to today’s
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https://www.investorideas.com/Audio/Podcasts/2022/080922-CryptoMarket.mp3
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at https://www.investorideas.com/news/2022/crypto-corner/08091MARA-CLSK.asp
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Stocks
discussed: (NasdaqCM:MARA) (NasdaqCM:CLSK)
According to data from CoinMarketCap,
Bitcoin (BTC) is trading for about $23,000 USD at press
time. Joe DiPasquale, CEO of BitBull Capital, has provided commentary to
Investorideas.com regarding Bitcoin’s price and its possible indications:
“In
line with our comments last week, BTC's rally failed to materialize into a
sustained trend and the market leader was largely range bound between $23,000 -
$22,000. However, the resilience on display should inspire confidence among
market bulls.
From
a technical analysis perspective, the range between $20,000 - $22,000 is an
important support zone right now. While the possibility of a retest of this
zone can't be ruled out, any breakdown below this is likely to result in
further downside toward recent lows. On the flipside, a breakout above $25,000
could see BTC moving very quickly toward the $29,000 - $30,000 resistance.”
Marathon Digital Holdings,
Inc. (NasdaqCM:MARA) has reported its financial and operational results
for the second quarter ended June 30, 2022. Highlights include the production
of 707 BTC – increasing the firm’s total Bitcoin holdings to 10,055 BTC as
of the month’s end, and a net loss of $191.6 million – in line with Bitcoin’s
own decline in price over the period. Fred Thiel, Marathon’s Chairman and CEO,
explained:
“Energization
delays, maintenance and weather issues in Montana, and an approximately 56%
decline in the price of bitcoin during the quarter, severely impacted our
bitcoin production and financial results. These items reduced our revenues,
caused us to record a $127.6 million impairment on our bitcoin holdings, and
decreased the fair market value of our investment fund by $79.7 million.
However, given the groundwork we laid during the quarter and the progress we
have made since, we are optimistic that Marathon’s operational and financial
positioning is improving.”
CleanSpark, Inc. (NasdaqCM:CLSK) has entered into a definitive agreement to acquire
an active Bitcoin mining facility located in Washington, Georgia, for $16.2
million. Additionally, the company has
purchased approximately 3,400 of the latest generation Antminer S19
series of machines for roughly $8.9 million, which are already operating at the
acquired site. Zach Bradford, CleanSpark’s CEO, said:
“The
market has been preparing all summer for consolidation, and we are pleased to
be on the acquiring side. Our focus on sustainability and maximizing value for
our stakeholders have put us in a unique position to take advantage of the
unprecedented opportunities that the current market has created. We are
especially excited to be working with the citizens of Washington, GA, who have
been so welcoming to us. We look forward to maintaining and growing jobs and
infrastructure at our new campus in Washington.”
Sam Mowers, Investorideas
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