#CryptoCorner #Podcast 905: #Stocks discussed: (NasdaqGM: $BITF) (NYSEAmerican: $NILE)
#CryptoCorner
#Podcast 905: #Stocks discussed: (NasdaqGM: $BITF) (NYSEAmerican: $NILE)
Commentary from BitBull
Capital’s Joe DiPasquale, Bitfarms and BitNile Publish November Updates
Vancouver, Kelowna, Delta, BC December 1,
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: (NasdaqGM:BITF) (NYSEAmerican:NILE)
Joe DiPasquale, CEO of BitBull Capital,
has provided commentary to Investorideas.com regarding the state of Bitcoin’s (BTC) price and market:
Fed
chair Powell’s speech addressing the labor market, resulted in improved market
sentiment as he iterated the need for caution in the fight against inflation.
What the market is now looking toward is a potential “soft landing”, giving
breathing room to both equities and crypto assets. Since the speech, BTC
reclaimed $17,000 while ETH tested $1,300. Moving forward, however, the
market will be looking toward the FOMC meeting on December 14 to see if the
next rate hike is lower than 50bps. If yes, we could see another injection of
bullish sentiment, possibly taking BTC to $20,000.
For more from Joe
DiPasquale, please visit bitbullcapital.com.
Bitfarms Ltd. (NasdaqGM:BITF) has published a Bitcoin (BTC) production and
mining operations update for November 2022. Highlights include the mining of
453 BTC, the installation of over
2,300 miners in Rio Cuarto, Argentina, and a hashrate capacity of 4.4 EH/s
online as of November 30. Geoff Morphy, President and COO of Bitfarms,
explained:
“Our
strategy of using low-cost hydro power and highly efficient miners continues to
deliver stable electricity rates and consistently low production costs. As
such, we believe that Bitfarms is well positioned to benefit from any
industry-related curtailment, idling or shutting down of miners that may occur
as a result of high fossil-fuel energy source expense.
As
previously discussed, Argentina’s macroeconomic environment is causing delays
in the importation of most goods which is adversely affecting our ability to
bring in the additional miners we need to operate the first warehouse at its
full capacity of 50 MW. These delays may impact the company’s 5.0 exahash goal
for year-end 2022.”
BitNile Holdings, Inc. (NYSEAmerican:NILE) has published an unaudited update on Bitcoin
production and miner installation. According to the press release, the company
has increased its number of miners to 20,441 S19j Pro and XP Antminers, “which
once installed and energized, will generate a combined processing power of
approximately 2.21 exahashes per second,” and during the month “received 92.2
Bitcoin as a result of its miners providing computing power to a mining pool
operator.” Milton "Todd" Ault, III, BitNile’s Executive Chairman,
said:
"The
newest green XP miners installed in Michigan have allowed us to reach a new
high of approximately 1.06 EH/s. The team is still working through the issues
at the Wolf Hollow hosting facility in Texas, as well as developing new
relationships to operate the remaining machines."
Sam Mowers, Investorideas
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investors following the sector Investor Ideas has a comprehensive
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