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Crypto Corner Podcast 644: Stocks discussed: (NYSE: SQ) (ASX: APT) (CSE: VYGR) (NasdaqGS: MARA)

Point Roberts, WA and Delta, BC – August 2, 2021 (Investorideas.com Newswire) 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.

Listen to today’s Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2021/080221-CryptoMarket.mp3

Crypto Corner Podcast 644: Stocks discussed: (NYSE: SQ) (ASX: APT) (CSE: VYGR) (NasdaqGS: MARA)

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Stocks discussed: (NYSE:SQ) (ASX:APT) (CSE:VYGR) (NasdaqGS:MARA)

In its second-quarter financial letter to shareholders, payments giant Square, Inc. (NYSE:SQ) reported an increase in its Bitcoin (BTC) revenue. An excerpt reads:

During the second quarter of 2021, we saw significant growth in bitcoin revenue year over year. While bitcoin revenue was $2.72 billion in the second quarter of 2021, up approximately 3x year over year, bitcoin gross profit was only $55 million, or approximately 2% of bitcoin revenue.

Square has also today announced plans to acquire Australian fintech firm Afterpay Limited (ASX:APT). Square CEO Jack Dorsey commented:

“Square and Afterpay have a shared purpose. We built our business to make the financial system more fair, accessible, and inclusive, and Afterpay has built a trusted brand aligned with those principles. Together, we can better connect our Cash App and Seller ecosystems to deliver even more compelling products and services for merchants and consumers, putting the power back in their hands.”

Voyager Digital Ltd. (CSE:VYGR) has announced the acquisition of leading crypto payments platform Coinify ApS. Stephen Ehrlich, CEO and Co-Founder of Voyager, explained:

“As the adoption of cryptocurrency payments gains momentum, the acquisition of Coinify brings a global payment infrastructure to Voyager’s digital asset ecosystem and will give our rapidly growing customer base of over 1.75 million users a fast, easy, and secure way to make payments from their Voyager accounts. Coinify’s core values of innovation, security, and scalability are perfectly aligned with Voyager’s mission of making digital assets accessible throughout the world.”

Marathon Digital Holdings, Inc. (NasdaqGS:MARA) has announced the purchase of 30,000 Antminer S19j Pro (100 TH/s) miners from Bitmain for $120.7 million. This brings Marathon’s fleet to over 133,000 miners, producing around 13.3 EH/s upon full deployment. Fred Thiel, the company’s CEO, explained:

“Increasing our percentage of the total network’s hash rate increases our probability of earning bitcoin, and given the uniquely favorable conditions in the current mining environment, we believe it is an opportune time to add new miners to our operations. With this new order, we are growing our operations by 30% to approximately 133,000 miners, producing 13.3 EH/s. As a result, once all miners are fully deployed, our mining operations will be among the largest, not just in North America, but globally. We’d like to thank the team at Bitmain for expediting this order as we work to further scale our operations and establish Marathon as one of the leading Bitcoin miners in North America.”

Sam Mowers, Investorideas

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