Crypto Corner Podcast - HIVE Reports Q3 Results, Bitfarms Purchasing 48,000 MicroBT Miners, DMG Selected By Ecopwrs For Bitcoin Mining Operations, BIGG’s Netcoins Posts 54% MoM Increase In Revenue
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#CryptoCorner #Podcast 539: #Stocks discussed: (TSXV: $HIVE.V) (TSXV: $BITF.V) (TSXV: $DMGI.V) (CSE: $BIGG.C)
HIVE Reports Q3 Results, Bitfarms Purchasing 48,000 MicroBT Miners, DMG Selected by Ecopwrs for #Bitcoin Mining Operations, and BIGG’s #Netcoins Posts 54% MoM Increase in Revenue
Point Roberts, WA, Delta BC March 2, 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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Read this in full at Crypto Corner Podcast 539: Stocks discussed: (TSXV: $HIVE.V) (TSXV: $BITF.V) (TSXV: $DMGI.V) (CSE: $BIGG.C)
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Stocks discussed: (TSXV:HIVE) (TSXV:BITF) (TSXV:DMGI) (CSE:OTC:BIGG)
HIVE Blockchain Technologies Ltd. (TSXV:HIVE) has reported its results for the third quarter ended December 31, 2020. HIghlights include $13.7 million of income from digital currency mining, and improvement of 174 percent over Q3 of the previous year, and a gross mining margin expansion from $3.8 million last year to $10.6 million. HIVE’s Executive Chairman, Frank Holmes, explained:
"Even with the challenges that have been faced with raising difficulty levels, the strong crypto currency prices coupled by our continued focus on lowering costs at our operations we have seen very strong results for our shareholders.
Our Sweden and Iceland operations mining Ethereum on the cloud has been and continues to be a very stable and profitable business for us. On average we have been producing around 20,000 Ethereum coins per quarter, and when we experience quarters above that level it is due to bonus transaction fees that vary from quarter to quarter”
Bitfarms Ltd. (TSXV:BITF) has announced a purchase agreement for 48,000 new MicroBT miners, a move that is expected to increase the company’s hashing capacity by “approximately 5.0 EH.” Emiliano Grodzki, CEO of Bitfarms, commented:
“This is another great milestone in the history of our company. With this equipment purchase agreement, Bitfarms is positioned to remain in the top tier of publicly traded crypto mining companies in the world. This purchase and expansion will be the cornerstone of our corporate growth strategy through 2022. The supply of miners will be one of the greatest challenges in the foreseeable future due to a global shortage of wafers used to create semiconductor chips which is a vital component in mining rigs. Our strategy will be to continue to grow our own infrastructure and professional operations and conduct mining in our own facilities which increases operational efficiency and profitability.”
DMG Blockchain Solutions Inc. (TSXV:DMGI) has been selected by Ecopwrs LLC to “lead the development and management of its Bitcoin mining operations in the Permian Basin of the United States.” According to the press release, Ecopwrs “reduces natural gas flaring by using gas to generate electric power and operate Bitcoin mining servers at well sites.” Ecopwrs’ CEO John Heffernan explained:
“The sites will be powered by recovering and using wasted natural gas at current gas flaring and gas processing sites, allowing Ecopwrs to generate electricity for the Bitcoin mining operations at a very low cost. It’s important to note that electricity is the largest factor determining profitability in Bitcoin mining, and Ecopwrs' waste gas-based generation will place the production cost for ourselves and our partner DMG among the lowest of all global Bitcoin miners.”
Netcoins, the online cryptocurrency brokerage of BIGG Digital Assets Inc. (CSE:BIGG), saw revenue increase by 54 percent Month-over-Month for February 2021. At $1.25 million, this is a new record high for the company. Netcoins also saw 41 percent growth in its Monthly Active Users. The company’s President, Mitchell Demeter, said:
“Despite February being a shorter month, Netcoins has continued to grow at an exceptionally fast pace. We are encouraged by all major metrics, particularly new customer onboarding - which increased by nearly 50% daily - which is the engine for future revenue and trading volume growth. As we head into March, we will continue to expand our marketing programs. I look forward to updating shareholders on our progress again soon.”
Sam Mowers, Investorideas
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