Investor Ideas, Trading Ideas and Stocks to Watch : #CryptoCorner Episode 563: #Stocks discussed: (NasdaqGS: $BTBT) (TSXV: $BNXA.V) (CSE: $GBLC.C)

Tuesday, April 06, 2021

#CryptoCorner Episode 563: #Stocks discussed: (NasdaqGS: $BTBT) (TSXV: $BNXA.V) (CSE: $GBLC.C)

#CryptoCorner Episode 563: #Stocks discussed: (NasdaqGS: $BTBT) (TSXV: $BNXA.V) (CSE: $GBLC.C)

Bit Digital Purchases 4,871 Miners in Q1, Banxa Reports Total Transaction Value Results for March, Graph #Blockchain Deploys $2M for #Crypto Purchases, and XRP Hits Highest Trading Price Since 2018

Point Roberts, WA, Delta BC April 6, 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/2021/040621-CryptoMarket.mp3

Read this in full at https://www.investorideas.com/news/2021/crypto-corner/04061BTBT-BNXA-GBLC.asp

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Stocks discussed: (NasdaqGS:BTBT) (TSXV:BNXA) (CSE:GBLC)

Bit Digital, Inc. (NasdaqGS:BTBT) announced that it has completed the purchase of 4,871 bitcoin miners, with a total hash rate of around 324 PH/s, in the first quarter of 2021. The addition of these Bitmain S17+, Bitmain S17 and Bitmain S19Pro miners, brings the firm's total hash rate from 2,250 PH/s to 2,574 PH/s. Bit Digital CFO, Erke Huang, said:

"With these miners installed, average utility costs should further decline, and we should see an increase in our daily bitcoin production capacity. We expect to continue to invest in miners to increase our overall hash rate capacity in the near future."

Banxa Holdings Inc. (TSXV:BNXA) has reported its Total Transaction Value (TTV) results for March 2021. Highlights include a TTV of $79.5 million AUD for the month, representing a 13 percent increase over the previous month and a 696 percent increase over results from March 2020. The company’s CEO, Holger Arians, explained:

"The digital asset industry has been undergoing a period of sustained and continuous growth. This has driven interest throughout the market. The sudden influx of new users on exchanges and wallets has driven higher demand. However, the interest in Banxa is largely decoupled from digital asset pricing. There's interest irrespective of price. If the market moves downward, clients buy the dip. If it moves upward, new entrants enter the market for the first time. This has placed some strains on the services of digital asset service providers, including Banxa. We have scaled up our Customer Experience and Support teams to cope with that extra demand."

Graph Blockchain Inc. (CSE:GBLC), via its wholly-owned crypto subsidiary, Babbage Mining Corp., has deployed additional capital of $2 million CAD for the purchase of Polkadot (DOT1) and Cardano (ADA). Paul Haber, CEO of Graph Blockchain Inc. commented:

"The Babbage team has been closely reviewing different tokens and we are excited to announce these acquisitions today to further deploy the Company's capital. As we expand the crypto portfolio, Graph's value add will include the ability going forward to leverage the crypto acquisitions into building a diversified crypto enterprise within a public company."

Earlier this morning XRP was trading as high as $1.10 USD – the highest it has traded since March 2018 – according to data from CoinMarketCap. This is, perhaps, most notable for happening despite a previously-reported case filed against Ripple, which employs XRP in its payments network, by the SEC.

Sam Mowers, Investorideas

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