#CryptoCorner #Podcast 876: #Stocks discussed: (NasdaqCM: $CLSK) (NYSE: $BTCM)
#CryptoCorner
#Podcast 876: #Stocks discussed: (NasdaqCM: $CLSK) (NYSE: $BTCM)
Commentary
on BTC from BitBull Capital CEO Joe DiPasquale, CleanSpark Closes Mining
Facility Acquisition, and BIT Mining Reports Q2 Results
Vancouver, Kelowna, Delta, BC August 22,
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
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https://www.investorideas.com/Audio/Podcasts/2022/082222-CryptoMarket.mp3
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Stocks
discussed: (NasdaqCM:CLSK) (NYSE:BTCM)
Joe DiPasquale, CEO of
BitBull Capital, has provided commentary to Investorideas.com regarding
Bitcoin’s (BTC) price and market:
“In
line with our comments last week, Bitcoin's failure to breach $25,000 has
capped its rally and it appears that macroeconomic concerns continue to affect
markets. However, we maintain that healthy consolidation leading into September
will be a positive sign for the bulls, especially if Bitcoin does not create a
new low below $18,000. In case BTC does fall below the previous low, we could
be looking at further downside, potentially toward the $15,000 range. However,
as long as Bitcoin stays between $18,000 - $20,000, bulls should gain
confidence. Upcoming hints from the Fed in terms of their policy are going to
be key indicators, especially the September FOMC and the Ethereum [ETH] merge next month.”
CleanSpark, Inc. (NasdaqCM:CLSK) has announced that it has closed on the previously-reported
acquisition of an active Bitcoin mining facility in Washington, Georgia. This
is anticipated to add 2.6 EH/s to CleanSpark’s hashrate, according to the press
release. Matt Schultz, the company’s executive chairman, said:
“This
is a tremendous opportunity for CleanSpark and our shareholders and we are
thrilled to be moving so quickly on the deployment of this site. The community
in Washington has welcomed CleanSpark with open arms, and we look forward to
being their partners as we continue to build the transformative and sustainable
infrastructure that is bitcoin mining.”
BIT Mining Limited (NYSE:BTCM) has reported its unaudited financial results for
the second quarter ended June 30, 2022. Highlights include revenues of $195.5
million USD – down considerably from $435.4 million in Q2 2021. The company’s
CEO, Xianfeng Yang, said:
"Over
the past quarter, we have focused on R&D and identifying synergies across
our vertically integrated supply chain. Cryptocurrency price weakness and
higher energy prices have had a significant impact on stock prices and revenues
of companies in our sector, including BIT Mining. Despite the turbulent market
conditions, we remain committed to our long term growth strategy and confident
in our ability to create value for our shareholders in the future.”
Sam Mowers, Investorideas
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