Point Roberts, WA and Delta, BC – October 21, 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.
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Crypto Corner Podcast 699: Stocks discussed: (NasdaqGS: HUT) (NasdaqCM: HIVE) (NasdaqCM: CAN) (TSXV: DIGI)
Stocks discussed: (NasdaqGS:HUT) (NasdaqCM:HIVE) (NasdaqCM:CAN) (TSXV:DIGI)
Hut 8 Mining Corp. (NasdaqGS:HUT) has announced that it has executed on a $58.7 million USD purchase of 12,000 new MicroBT M30S, M30S+ and M30S++ miners from Inchigle Technology Hong Kong Limited, with aggregate incremental production of 1.17 EH/s. Delivery is expected to begin in January 2022, at a rate of about 1,000 machines per month, with full deployment anticipated by December 2022. Hut 8’s CEO, Jaime Leverton, said:
“We are thrilled to announce our latest strategic purchase of new MicroBT equipment. The strength of our relationship with MicroBT enabled us to quickly execute on this compelling investment opportunity. While timing relative to Bitcoin [BTC] achieving an all-time high is coincidence, this investment serves to reinforce our commitment to efficiently mine and Hodl Bitcoin.”
HIVE Blockchain Technologies Ltd. (NasdaqCM:HIVE) has announced the purchase of 6,500 next generation Bitcoin miners with an aggregate hash power of 585 Petahash per second (PH/s). The company’s Executive Chairman, Frank Holmes, explained:
“We are pleased to be building on our strategic alliances with leading ASIC manufacturer Canaan [NasdaqGM:CAN] to achieve our goals and drive value for our shareholders, with executing on a transaction that increases our cash flow and green mining capacity. HIVE currently has approximately 1.2 Exahash per second (EH/s) of Bitcoin mining capacity, and with this new purchase, HIVE’s Bitcoin ASIC pipeline will be at 2 EH/s by December 2021, and 3 EH/s by March 2022. In addition to this, we are expanding our current active Ethereum [ETH] mining capacity from approximately 4,000 Gigahash per second (GH/s), to 6,000 GH/s in new facilities in Sweden.”
Digihost Technology Inc. (TSXV:DIGI) has reported its financial results for the third quarter ended September 30, 2021. Highlights include $5.5 million in revenue for digital currency mining in the quarter – up 1,153 percent over Q3 in 2020, and a total comprehensive income of $2.9 million in Q3 this year – up from the comprehensive loss of $1.7 million in Q3 of 2020. Michel Amar, CEO of Digihost, commented:
“It is rewarding for the Company to announce strong Q3 financial results generating record top-line revenue growth for the second consecutive quarter along with positive net income. The Company’s improved financial performance is directly related to Digihost’s dedicated focus to managing costs and continued growth in our mining operations. With additional miners arriving in Q4 2021 and in early 2022, Digihost expects to aggressively expand its mining capacity as previous investments in infrastructure are expected to drive continued growth for the Company.”
Sam Mowers, Investorideas
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