Point Roberts, WA and Delta, BC – October 27, 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 703: Stocks discussed: (NasdaqCM: HIVE) (TSXV: NTE) (NasdaqGM: BITF) (NasdaqCM: FTFT)
Stocks discussed: (NasdaqCM:HIVE) (TSXV:NTE) (NasdaqGM:BITF) (NasdaqCM:FTFT)
HIVE Blockchain Technologies Ltd. (NasdaqCM:HIVE) is investing $450,000 CAD in Network Entertainment, Inc. (TSXV:NTE), in part as a means to gain exposure to the latter’s emerging non-fungible token (NFT) business. Frank Holmes, HIVE’s Executive Chairman, explained:
“Network has a rich portfolio of intellectual property, and I’m excited to see how it can be monetized using NFTs. Most NFTs operate on the Ethereum [ETH] network, as does its native currency Ether, which HIVE mines, along with Bitcoin, using only 100% green renewable energy. As NFTs increase in demand, so too should the demand for Ether. HIVE is well positioned to benefit from the increased need for Ether, making its investment in Network a potential win-win for both companies.”
Bitfarms Ltd. (NasdaqGM:BITF) has announced that it is constructing two new high power production facilities leased in Sherbrooke, Quebec, Canada, scheduled to be completed in phases during the first and second quarters of 2022. With a combined capacity of 78 megawatts (MW), the two farms are “expected to accommodate approximately 21,000 new Bitcoin miners and generate approximately 2.1 Exahash/second (EH/s).” Emiliano Grodzki, CEO of Bitfarms, said:
“Committed to increasing our capacity and hashrate in a cost-effective manner, we have been working closely with the City of Sherbrooke to expedite our expansion. Both farms will benefit from our existing cost-effective contracts that supply green hydro power at an average cost of just US four cents per kilowatt hour. Similar to all our other Quebec farms, they will be passively cooled by the Canadian climate, reducing total energy consumption and operating costs. Most importantly, while also minimizing the risk of disruptions, these farms continue Bitfarms’ strategy of operating decentralized facilities to boost our capacity and support our goal of achieving 3 EH/s by the end of first quarter of 2022 and 8 EH/s by the end of 2022.”
Future FinTech Group Inc. (NasdaqCM:FTFT) has announced plans to build a cryptocurrency mining farm in Paraguay after having received official invitations from the country’s Minister of Social Development and the Mayor of the City of Coronel Oviedo. Shanchun Huang, Chief Executive of Future FinTech, cited Paraguay’s “favorable business policies and competitive energy prices” as reasons for “a marked increase in cryptocurrency mining activities” in the country. He said:
“Given the government of Paraguay’s support for the cryptocurrency mining business, as well as our commitment to the space, we plan to carefully assess this development opportunity in Paraguay. We will work with our local consultant to review Paraguay’s hydroelectric power and clean energy resources, locations for developing a mining farm and the preferential policy treatment that we might receive for our capital investment. We will plan upon providing updates to our shareholders with additional information regarding this potentially important development for the Company.”
Sam Mowers, Investorideas
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