#CryptoCorner #Podcast 899: #Stocks discussed: (NasdaqCM: $RIOT) (NasdaqCM: $HIVE) (NasdaqGS: $ARBK)

 

 

 

#CryptoCorner #Podcast 899: #Stocks discussed: (NasdaqCM: $RIOT) (NasdaqCM: $HIVE) (NasdaqGS: $ARBK)

 

Riot Blockchain Reports Quarterly Financial Results, HIVE Announced October Production Figures, and Argo Posts Operational Update

 

 

Vancouver, Kelowna, Delta, BC November 8, 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:RIOT) (NasdaqCM:HIVE) (NasdaqGS:ARBK)

 

Riot Blockchain, Inc. (NasdaqCM:RIOT) has reported its financial results for the quarter ended September 30, 2022. Highlights include a total revenue of $46.3 million USD – down from $64.8 million for the same three-month period in 2021, the production of 1,042 Bitcoin (BTC), and a deployed fleet of 55,728 miners boasting a record hash rate capacity of 5.6 EH/s. The company’s CEO, Jason Les, said:

 

“Despite rising energy prices, which significantly impacted many Bitcoin miners, Riot was able to leverage our long-term fixed rate power contract to generate significant power credits and in doing so, significantly reduce our operating costs. Additionally, our strong liquidity position has enabled us to remain focused on executing our growth plans and achieving new records in hash rate capacity, as we work towards our goal of becoming the world’s leading Bitcoin-driven infrastructure platform.”

 

HIVE Blockchain Technologies Ltd. (NasdaqCM:HIVE) has announced the production figures from its global Bitcoin operations for October 2022. Highlights include the production of 307 Bitcoin, a HODL balance of 3,311 BTC as of November 5, and 2.38 Exahash of Bitcoin mining capacity at the end of October. Aydin Kilic, President & COO of HIVE, explained:

 

"Our fleet of GPU's now use a unique algorithm to mine altcoins, which are exchanged for Bitcoin, therefore HIVE earns and takes custody of Bitcoin only. This month our GPU fleet produced 45 BTC. This is in addition to the 262 Bitcoin produced from our Bitcoin ASIC mining operations during October, for a total of 307 Bitcoin produced."

 

Argo Blockchain (NasdaqGS:ARBK) has posted an operational update for October 2022. The company mined 204 Bitcoin or Bitcoin Equivalents in the month, sold 3,843 new-in-box Bitmain S19J Pro machines, and achieved approximately $4 million USD in mining revenue. While the company mined 215 BTC in September, the press release explains the decrease as being “primarily due to a significant increase in the Bitcoin network difficulty in October compared to September.”

 

Sam Mowers, Investorideas

 

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