#CryptoCorner #Podcast: #Cryptocurrency #Stocks in the News: (NasdaqCM: $RIOT) (NasdaqCM: $MARA) (TSXV: $CBIT.V)

 

 

 

#CryptoCorner #Podcast: #Cryptocurrency #Stocks in the News: (NasdaqCM: $RIOT) (NasdaqCM: $MARA) (TSXV: $CBIT.V)

 

Riot Platforms and Marathon Digital Post May Results, and Cathedra Bitcoin Partners with 360 Mining

 

Vancouver, Kelowna, Delta, BC June 5, 2023 -  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.

 

Today’s podcast is sponsored by Fintech Company AppTech Payments Corp. (NasdaqCM:APCX).

 

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Stocks discussed: (NasdaqCM:RIOT) (NasdaqCM:MARA) (TSXV:CBIT)

 

Riot Platforms, Inc. (NasdaqCM:RIOT) has announced its unaudited production and operations updates for the month of May 2023. Highlights include 800 miners staged for deployment at the month’s end, the production of 676 Bitcoin (BTC), and net proceeds of $16.5 million USD from Bitcoin sales. Jason Les, the company’s CEO, said:

 

“In May, Riot successfully maintained steady and consistent production, mining 676 Bitcoin during the month. In addition, Riot also benefited from participation in ERCOT’s Demand Response programs, generating $2.4 million in revenue as a result of our unique power strategy, which is made possible by our long-term fixed rate power contracts. Riot’s participation in these programs supports ERCOT’s efforts to maintain grid reliability for the benefit of all Texans while also providing economic benefits to the Company.”

 

Marathon Digital Holdings, Inc. (NasdaqCM:MARA) has posted its unaudited Bitcoin production and miner installation updates for May 2023. Highlights include record production of 1,245 BTC in the month, 12,259 BTC in Bitcoin holdings, and an installed hash rate of 20.1 Exahash per second. Fred Thiel, the company’s Chairman and CEO, said:

 

“In May, we increased our operational hash rate 9% month-over-month to 15.2 exahashes, and we increased our installed hash rate 13% month-over-month to 20.1 exahashes. With the construction of Applied Digital’s facility in Ellendale, ND progressing and optimizations across our fleet continuing, we believe we are on track to reach our 23 EH/s target near the middle of this year.”

 

Cathedra Bitcoin Inc. (TSXV:CBIT) has announced a strategic partnership with Delaware incorporated off-grid BTC mining firm 360 Mining, Inc. This will see Cathedra “deploy mobile data centers and bitcoin mining machines at 360 Mining’s off-grid location in Texas, with 360 Mining providing natural gas and power generation infrastructure to supply continuous electricity to Cathedra’s bitcoin mining infrastructure.” Cathedra’s Chairman and President, Drew Armstrong, explained:

 

"This partnership is an important step for Cathedra. With the onset of the bitcoin bear market last year, we were forced to pause our Rover manufacturing efforts and pursuit of off-grid energy to focus on maximizing near-term operating cash flow. As part of this focus on profitability, we pioneered the use of underclocking techniques on latest-generation machines to improve efficiency and operating margins. Now, this partnership synthesizes all of these initiatives, leveraging our proprietary Rovers, industry-leading underclocking capabilities, and experience mining off-grid. And by utilizing idle infrastructure and machines, we are growing our hash rate with minimal incremental capital investment."

 

Sam Mowers, Investorideas

 

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

 

Podcast sponsor: 

AppTech Payments Corp. (NasdaqCM:APCX) is an innovative Fintech company whose mission is to deliver a better way for businesses to provide their customers with immersive commerce experiences. Commerse™, its all-new, patent-backed technology platform powering seamless omni-channel Commerce Experiences-as-a-Service (CXS), drives highly secure, scalable, cross-border digital banking, text-to-pay, crypto payments and merchant services altogether from a single, unified stack designed to increase operational efficiencies and growth for businesses while providing the economic convenience that their customers demand from today’s commerce experiences. For more information, visit apptechcorp.com.

 

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