Investor Ideas, Trading Ideas and Stocks to Watch : #CryptoCorner #Podcast 537: #Stocks discussed: (LSE:ARB) (NasdaqGS: $MARA)

Friday, February 26, 2021

#CryptoCorner #Podcast 537: #Stocks discussed: (LSE:ARB) (NasdaqGS: $MARA)

#CryptoCorner #Podcast 537: #Stocks discussed: (LSE:ARB) (NasdaqGS: $MARA)

Argo Installs 4,500 Bitmain Miners, Grayscale Investments Considering Several New Digital Assets, and Marathon Patent Group Changes Name to Marathon Digital Holdings

Point Roberts, WA, Delta BC February 26, 2021 - 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.

Listen to today’s Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2021/022621-CryptoMarket.mp3

Read this in full at https://www.investorideas.com/news/2021/crypto-corner/02261ARB-MARA.asp

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Stocks discussed: (LSE:ARB) (NasdaqGS:MARA)

At press time, Bitcoin (BTC) is trading for about $46,600, after having sunk as low as $44,454 – its lowest since Feb 11 – earlier this morning, according to data from CoinMarketCap. An excerpt from a CoinDesk report on Bitcoin’s price movement cites Ki Young Ju, CEO of blockchain analytics firm CryptoQuant:

“…deeper declines, if any, could be short-lived, as blockchain data shows large traders are accumulating the cryptocurrency on the dips. The institution-focused Coinbase Pro exchange has registered outflows of 25,000 BTC in the past 24 hours in a sign of persistent demand from U.S.-based institutional investors.”

Argo Blockchain (LSE:ARB) has announced that the 4,500 Bitmain Antminer S19 and S19 pro miners Argo had agreed to lease from Celsius Network in November 2020 have been installed on time and are now fully operational. This adds approximately 430 petahash to the Argo's installed computing power. The company’s CEO, Peter Wall, commented:

"We are delighted with the addition of these machines and believe that this installation will help Argo maintain its position at the forefront of mining efficiency."

Digital currency asset manager Grayscale Investments is considering “several new digital assets for potential new product offerings.” Some of these include: Cardano (ADA), EOS, Monero (XMR), and Polkadot (DOT). Grayscale CEO Michael Sonnenshein explained:

“We're eager to expand our product offerings to better serve our investors. The digital currency universe is constantly evolving and we seek to identify bold, interesting, and innovative opportunities that satisfy our investors’ demand for differentiated exposure to this burgeoning asset class.

We may not turn each of these assets into one of our landmark investment products,” continued Sonnenshein. “But as a firm that has been on the vanguard of connecting the legacy financial system with the new, digital currency-driven financial system, we view it as our responsibility to introduce investors to more diversity in this space.”

Marathon Patent Group (NasdaqGS:MARA) has changed its name to Marathon Digital Holdings, effective March 1, 2021. The change compliments the company’s corporate rebrand, as it focuses on mining cryptocurrencies and investing in digital assets. Merrick Okamoto, Marathon’s chairman and CEO, explained:

“Now that we have transformed Marathon into one of the only pure-play Bitcoin investment options available, we are rebranding our Company to ensure our image better aligns with our current operations and our long-term objectives. To date we have purchased $150 million worth of Bitcoin and 103,060 of the industry’s premier Bitcoin miners. These strategic investments demonstrate our commitment to this new asset class and our clear path to becoming one of the largest and most efficient miners in North America. The corporate rebrand, including our new name, Marathon Digital Holdings, better represents our mission and the strategy we are implementing to further grow the business.”

Sam Mowers, Investorideas

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