Crypto Corner Podcast - Bitcoin Breaks $51K, MicroStrategy Ups Debt-For-Bitcoin Offering To $900M, Hut 8 Announces BTC Balance Of 3,012, Ebang To Launch Bitcoin Mining Business, BIGG Subsidiary BIG Partners With Netki

#CryptoCorner #Podcast 530: #Stocks discussed (NasdaqGS: $MSTR) (TSX: $HUT.TO) (NasdaqGS: $EBON) (CSE: $BIGG.C)

#Bitcoin Breaks $51K, MicroStrategy Ups Debt-for-Bitcoin Offering to $900M, Hut 8 Announces BTC Balance of 3,012, Ebang to Launch Bitcoin Mining Business, and BIGG Subsidiary BIG Partners with Netki

Point Roberts, WA, Delta BC February 17, 2021 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of theCrypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.

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https://www.investorideas.com/Audio/Podcasts/2021/021721-CryptoMarket.mp3

Read this in full at Crypto Corner Podcast 530: Stocks discussed: (NasdaqGS: $MSTR) (TSX: $HUT.TO) (NasdaqGS: $EBON) (CSE: $BIGG.C)

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Stocks discussed: (NasdaqGS:MSTR) (TSX:HUT) (NasdaqGS:EBON) (CSE:OTC:BIGG)

As is so often the case these days, Bitcoin (BTC) wasted no time in surpassing its recently achieved new all-time high trading price (covered in yesterday’s Crypto Corner), as it crossed the $51K mark early this morning, according to data from CoinMarketCap. So far, it has peaked at $51,630, and has not seen a significant downward correction. At press time, Bitcoin is trading for about $51,350.

MicroStrategy (NasdaqGS:MSTR), which yesterday announced a proposed private offering of $600 million in convertible senior notes, has adjusted the pricing of its offering to $900 million. The company expects net proceeds from the sale of the notes to be approximately $879.3 million, an amount it plans to use to acquire additional bitcoin.

Hut 8 Mining Corp. (TSX:HUT) announced that, as of the end of day Tuesday, February 16, it had a bitcoin balance of 3,012 ($186 million CAD). The company’s CEO, Jaime Leverton, said:

"Our commitment to 'hodling' bitcoin is at the core of our strategy in creating incremental value for Hut 8 investors. I am proud of our position as a leading Bitcoin miner globally and celebrate our substantial bitcoin balance as a testament to the strength and efficiency of our mining and executive leadership teams. We will continue to manage our operations to prevent the need to sell any of the bitcoin we mine for the foreseeable future."

Ebang International Holdings Inc. (NasdaqGS:EBON) has passed a resolution to launch a Bitcoin mining business. According to the press release, this will involve the deployment of “self-manufactured mining machines and mining machines purchased from other manufacturers as well as leasing computing powers from other mining farms.” Dong Hu, Ebang’s Chairman and CEO, commented:

“With the development of Bitcoin mining business, the Company will not only just continue to position itself as a Bitcoin mining machine producer. This move will increase our revenue in cryptocurrency business and optimize our product offering structure. We believe it will help the Company’s transformation from a hardware manufacturer to a blockchain company with comprehensive involvements in its industry chain.”

Blockchain Intelligence Group (BIG), a subsidiary of BIGG Digital Assets Inc. (CSE:BIGG), has partnered with KYC-AML regulatory technology provider Netki “to integrate their Travel Rule solution (TransactID) into BIG’s Compliance suite of tools to allow BIG’s clients to meet the latest regulatory recommendations put out by FATF (Financial Action Task Force) and strongly endorsed by the G7.” Netki’s CEO, Justin Newton, said:

“Netki is pleased to partner with Blockchain Intelligence Group, an industry leader in cryptocurrency compliance solutions. The integration of our TransactID travel rule solution into their platform ensures the market has a full service provider for the AML and travel rule regulations put out by FATF. We know these recommendations will shortly be regulation adopted globally.”

Sam Mowers, Investorideas

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