Investor Ideas, Trading Ideas and Stocks to Watch : #CryptoCorner Episode 463: Grayscale (OTC: $GBTC) Reports $1B in New Investments for Q3, Ebang (NasdaqGS: $EBON) to Acquire NZ-Based Financial Company, Bitfarms (TSXV: $BITF.V) Enters Equipment Lease with BlockFills

Wednesday, October 14, 2020

#CryptoCorner Episode 463: Grayscale (OTC: $GBTC) Reports $1B in New Investments for Q3, Ebang (NasdaqGS: $EBON) to Acquire NZ-Based Financial Company, Bitfarms (TSXV: $BITF.V) Enters Equipment Lease with BlockFills

#CryptoCorner Episode 463: Grayscale (OTC: $GBTC) Reports $1B in New Investments for Q3, Ebang (NasdaqGS: $EBON) to Acquire NZ-Based Financial Company, Bitfarms (TSXV: $BITF.V) Enters Equipment Lease with BlockFills

Point Roberts, WA, Delta BC October 14, 2020 - 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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https://www.investorideas.com/Audio/Podcasts/2020/101420-CryptoMarket.mp3

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Stocks discussed: (OTC:GBTC) (NasdaqGS:EBON) (TSXV:BITF)

Grayscale Investments released its Digital Asset Investment Report for Q3 2020, revealing that the company raised a record $1.05 billion in new investments in the quarter. According to the press release, “investment into the Grayscale family of products has surpassed $2.4 billion, more than double the $1.2 billion cumulative inflow into the products from 2013-2019.” Attracting the most investment in the quarter was the company’s Grayscale Bitcoin Trust (OTC:GBTC), which saw Q3 inflows of $719.3 million, and “has seen its assets under management (AUM) surge from $1.9 billion to $4.7 billion YTD.

Bitcoin mining machine producer Ebang International Holdings Inc. (NasdaqGS:EBON) has entered into an Expression of Interest Tender Letter to acquire a New Zealand-based financial company to establish a local digital asset financial service platform. Ebang’s Chairman and CEO, Dong Hu, explained:

“We remain steadfast in executing our strategies to launch comprehensive blockchain-enabled financial business[es] to capture the growth opportunity along the value chain of the blockchain industry. Leveraging our longstanding expertise in the blockchain technology and our recent expansions to Singapore, Canada and New Zealand, we have taken a giant stride toward our goal to build a fully-licensed, Internet-based trading platform that provides professional, convenient and innovative trading services.”

Bitfarms Ltd. (TSXV:BITF) has entered into an equipment lease with digital asset liquidity provider BlockFills for 1,000 WhatsMiner M31S miners to be delivered and installed by the end of November 2020. Bitfarms Interim CEO, Emiliano Grodzki, commented:

"Bitfarms continues to solidify its position as the industry leader in terms of operational hash rate, efficiency, and financial performance. The new equipment will fully utilize the installed infrastructure at our five high-powered data centers and will immediately be accretive to our financial performance. Unlike many of our competitors, Bitfarms operates all its computing power through its own facilities with wholesale energy prices avoiding costly hosting arrangements that may be terminated by the host with short customary notice periods. This positions Bitfarms uniquely as a sustainable and long-term mining operation."

Sam Mowers, Investorideas

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