Point Roberts, WA and Delta, BC – November 15, 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 716: Stocks discussed: (NasdaqCM:M ARA) (TSX: GLXY) (TSXV: CSTR)
Stocks discussed: (NasdaqCM:MARA) (TSX:GLXY) (TSXV:CSTR)
Marathon Digital Holdings, Inc. (NasdaqCM:MARA) has announced its intention to offer a $500,000,000 proposed convertible senior notes offering to qualified institutional buyers. The company also “expects to grant the initial purchasers of the notes an option, for settlement within a period of 13 days from, and including, the date the notes are first issued, to purchase up to an additional $75,000,000 principal amount of notes.” According to the press release, Marathon “intends to use the net proceeds from the offering for general corporate purposes, including the acquisition of bitcoin [BTC] or bitcoin mining machines.”
Galaxy Digital Holdings Ltd. (TSX:GLXY) has reported its financial results for the three and nine months ended September 30, 2021. Highlights from Q3 include a net comprehensive income of $517 million, an increase of 1,146 percent from the prior year period. Michael Novogratz, Founder and CEO of Galaxy Digital, said:
“As the cryptoeconomy continues to mature and adoption trends accelerate, driving both asset price increases and greater quantities of institutional capital into the space, I have never been more bullish about the future of our Company.
Our organic growth demonstrates our continued ability to capitalize on opportunities, with our net comprehensive income growing to $517 million from a net comprehensive income of $41.5 million in the prior year period. Year-to-date through November 12th, we have provided shareholders with approximately $1.6 billion in net comprehensive income, on the back of our strong operational and investing portfolio growth. We look forward to our U.S. listing and the close of our BitGo acquisition, which we now expect will occur in the first quarter 2022.”
CryptoStar Corp. (TSXV:CSTR) has signed a letter of intent (LOI) to acquire 100 percent of the outstanding shares of Neuro Digital Inc. for $2.4 million CAD. The latter is described as “a data centre operator specializing in GPU mining, Decentralized Finance (DeFi) and AI solutions with an operational data centre located in Quebec, Canada.” According to the press release, “the additional 83,162 MH/s of Hashrate from Neuro Digital’s GPU miners would add USD$199,448.78 (CAD$249,310.98) per month in self-mining revenue for” CryptoStar under current market conditions. CryptoStar President and CEO, David Jellins, said:
“We are delighted that Neuro Digital has agreed to the terms of the proposed Transaction, and more specifically, we are looking forward to incorporating the extremely talented team at Neuro Digital with a proven expertise in Ethereum (ETH) mining, AI solutions and DeFi. Furthermore, this acquisition will ensure our expansion of green operations in Quebec, Canada and is another step toward transitioning our operations to renewable sources.”
Sam Mowers, Investorideas
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