#Bitcoin Bounce Breathes Life Back into the #Crypto Sector: (OTCQB:
$INTV) (NASDAQ: $MARA) (NASDAQ: $RIOT) (OTC: $GBTC)
Point Roberts, WA and Delta, BC - May 15, 2019
(Investorideas.com Newswire) Investorideas.com, a global investor news source
covering blockchain and cryptocurrency issues sector snapshot looking at recent
news and developments in the cryptocurrency sector.
As Bitcoin and other cryptocurrencies regain stability
and enter a bullish phase, many crypto related companies are focusing heavily
on lower mining costs and capitalizing on this renewed interest. Bitcoin prices
are entering territory not seen in some time, breaking $7500 and doubling in
price since mid-December.
The Crypto Corner reported yesterday, Monday, May 13th,
“This rally was accompanied by a record
high in trading volume for Bitcoin set on Sunday, May 12. Blockfyre founder
Jonathan Habicht tweeted:
$29 Billion in $BTC volume was traded today.
The previous high of $25.5 billion was set on Jan 8, 2018.”
After experiencing historic growth (growing from a $7 billion market cap
in January 2016 to a more than $600 billion market cap by late 2017), the
cryptocurrency market has entered into a bear phase. Recovery has been strong
in recent months, with Bitcoin's value increasing nearly 70% from December 2018
to May 2019, and growing Institutional interest, a low cost of mining equipment
and ROI are key factors for investments at these levels.
Integrated Ventures
Inc. (OTCQB: INTV), a company that engages in digital currency mining operations
through manufacturing equipment; selling mining rigs, as well as developing
blockchain software, recently announced the signing of a Hosting and Marketing
Agreement with PetaWatt Properties, LLC. As a result, the previously
contemplated transaction to acquire Erie Power, LLC has been terminated, (1) due
to a need for significant capital requirements to re-start the plant and build
out mining infrastructure, (2) up to a 6 month timeline for launch of mining
operations, (3) a need for a significant dilution due to the recent stock
pricing weakness and (4) the company's ability to secure a similar deal, in
terms of power cost, without any additional investment.
On May 7, 2019, Integrated Ventures signed a three-year Agreement with
PetaWatt Properties, LLC, which will allow Integrated Ventures to consolidate
and streamline all mining operations (NC, PA and NJ) into one location, to
eliminate the Company's lease obligations and payroll expenses and to lower its
power costs by over 50%, thus greatly enhancing mining profitability and
long-term viability.
In addition, Integrated Ventures intends to market PW's services to
diversify its business by offering hosting and pool services via a la carte
packages to third-party miners and market participants.
The company has formulated and plans to execute a 6 step plan, designed
to position INTV for the next bull cycle:
- Operational Restructuring. To streamline and
improve profitability of current operations, the company is switching from
warehouse mining to third party hosting model, based on monthly flat fee
and resulting in elimination of all major expenses such monthly lease,
payroll, etc. All mining equipment (775+ rigs) is scheduled to be
connected by May 30th.
- Securing Competitive
Electricity Rates. By partnering with PetaWatt, Integrated Ventures
will secure access to a lowest power pricing structure.
- Generating Cash Flow via
Hosting & Mining Revenue Share Services. Integrated Ventures
intends to generate significant revenue through reselling of hosting and
revenue share services.
- Locking-In Record Low Hosting
Rate.
Newly secured Integrated Ventures' access to the most competitive power
cost, will allow the company to utilize and market one of the most
competitive hosting rates in the industry, thus driving profitability and
demand for long-term hosting contracts.
- Implementing All-In-One
"Plug-and-Mine" Mining Solution. Integrated Ventures
will offer clients an access to best hosting and pool rates for ASIC and
GPU miners, creating a "We Work" -style turn-key mining option
for miners seeking a fast market entry combined with a cost effective
hosting and pool space.
- Purchasing Discounted Mining
Rigs from Secondary Markets. Integrated Ventures will
keep costs low by purchasing equipment on the secondary market, a strategy
that was not possible when the market was in its infancy.
Integrated Ventures will have reliable long-term access to inexpensive
electricity through its three-year agreement with PetaWatt. Access to the low
cost power is the key that will allow Integrated Ventures to mine far more
profitably than most of its North American competitors and provide hosting
services at the market's most competitive price point.
Marathon Patent
Group, Inc. (NASDAQ:MARA) recently announced its operating results for the three months
ended March 31, 2019, as published in its Form 10-Q filed today with the
Securities and Exchange Commission.
Some of the key operating Results for the Quarter Ended March 31, 2019
were revenues of $230,694 during the three months ended March 31, 2019 compared
to $239,967 during the three months ended March 31, 2018, operating loss
improved to $984,909 (inclusive of non-cash expenses) for the quarter ended
March 31, 2019 compared to an operating loss of $1.8 million (inclusive of
non-cash expenses) quarter ended March 31, 2018, and the company had
approximately $2 million of cash and cash equivalents.
Merrick Okamoto, Chief Executive Officer, stated, “We’re pleased to show
significant financial improvement on a year over year basis including
significant reductions in our operating costs, While recent improvements in the
price of Bitcoin is clearly beneficial to our ongoing mining operations and
should benefit our financial performance in our Q2, we continue to seek
potential acquisition opportunities that we deem to offer the best opportunity
for appreciation for our shareholders.”
Riot Blockchain, Inc. (NASDAQ: RIOT) also announced the filing of its March 31, 2019 Quarterly
Report on Form 10-Q, which can be viewed on the Company's website or at
SEC.gov.
Some of the highlights extracted from the March 31, 2019 quarterly
consolidated financial statements were generating approximately $1.4 million in
revenue on the production of 329.52 Bitcoins, 356 Bitcoin Cash, and 1,422.5
Litecoins for the quarter, a gross margin which was roughly breakeven at (4)%
before depreciation and amortization despite an average Bitcoin price of $3,799
for the 2019 quarter, and a net loss of approximately $13.5 million or $0.94
per share compared to a net loss of $16.4 million or $1.35 per share in the
quarter ended March 31, 2018.
Riot's fully-owned hashing power was approximately 101 Petahash as of
March 31, 2019; which ranks the company among the largest publicly-listed
miners of Bitcoin and the operation continues to be fully deployed with 24/7
real-time monitoring of status and profitability.
Grayscale Investments, LLC (OTC: GBTC),
a global leader in digital currency asset management, recently released its 2019 Q1 Grayscale Digital Asset
Investment Report, a comprehensive report that highlights investment activity
and performance across the Grayscale family of products during the first three
months of the year.
During the first
quarter of 2019, Grayscale raised $42.7 million into its single-asset and
diversified investment products, marking a 42% increase in quarter-over-quarter
product inflows, with 73% of capital raised coming from institutional
investors.
In conjunction with
performance of the broader digital asset market, Q1 2019 marked the first
positive quarterly performance for six of the ten Grayscale investment
vehicles, including Grayscale Bitcoin Trust and Grayscale Digital Large Cap
Fund, since the end of 2017.*
Grayscale's
investment products are available to institutional and accredited individual
investors through their respective private placements. Grayscale’s single-asset
investment products provide exposure to Bitcoin (BTC),** Bitcoin Cash (BCH),
Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar
Lumens (XLM), XRP, and Zcash (ZEC). Grayscale’s diversified investment vehicle,
Grayscale Digital Large Cap Fund™, provides exposure to the top digital
currencies by market capitalization.
With continued
quarterly financials showing an increase in capital and a decrease in losses,
as well as continued crypto-currency stability, interest is growing in this
sector. Companies making headways in lowering energy costs and increasing
efficiencies hope to capitalize on this next phase of the crypto bull market.
About Investorideas.com
Social Media
Disclaimer/Disclosure: Investorideas.com is a
digital publisher of third party sourced news, articles and equity research as
well as creates original content, including video, interviews and articles.
Original content created by investorideas is protected by copyright laws other
than syndication rights. Our site does not make recommendations for purchases
or sale of stocks, services or products. Nothing on our sites should be
construed as an offer or solicitation to buy or sell products or securities.
All investing involves risk and possible losses. This site is currently
compensated for news publication and distribution, social media and marketing,
content creation and more. Disclosure is posted for each compensated news
release, content published /created if required but otherwise the news was not
compensated for and was published for the sole interest of our readers and
followers. Disclosure: this article featuring Integrated Ventures Inc. (OTC:
INTV) is a paid for service on Investorideas.com : two thousand one hundred
twenty. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn
more about publishing your news release and our other news services on the
Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
Contact management and IR of each company directly regarding
specific questions.
Global investors must adhere to regulations of each country.
Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Cryptocurrency Disclaimer
Investorideas.com news content is not
meant to be a solicitation to buy or sell cryptocurrencies and
Investorideas.com does not directly sell cryptocurrencies; but acts as a news
and research resource for interested investors following the blockchain sector.
Contact Investorideas.com
800-665-0411
No comments:
Post a Comment