Investor Ideas, Trading Ideas and Stocks to Watch : #CryptoCorner #Podcast 652: #Stocks discussed: (NasdaqGS: $HUT) (NasdaqCM: $FTFT) (CSE: $BTC.C)

Thursday, August 12, 2021

#CryptoCorner #Podcast 652: #Stocks discussed: (NasdaqGS: $HUT) (NasdaqCM: $FTFT) (CSE: $BTC.C)

#CryptoCorner #Podcast 652: #Stocks discussed: (NasdaqGS: $HUT) (NasdaqCM: $FTFT) (CSE: $BTC.C)

Hut 8 Reports Q2 Results, Future FinTech Incorporates UK Subsidiary, and Bluesky Announces July Mining Numbers

Point Roberts, WA, Delta BC August 12, 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.

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https://www.investorideas.com/Audio/Podcasts/2021/081221-CryptoMarket.mp3

Read this in full at https://www.investorideas.com/News/2021/crypto-corner/08121HUT-FTFT-BTC.asp

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Stocks discussed: (NasdaqGS:HUT) (NasdaqCM:FTFT) (CSE:BTC)

Hut 8 Mining Corp. (NasdaqGS:HUT) has reported its financial results for the second quarter ending June 30, 2021. At the end of Q2, according to the press release, the company had a total Bitcoin (BTC) balance of 3,824 with a market value of $166 million CAD, and currently boasts approximately 4,240 Bitcoin, with a market value of about $245 million. A key highlight from the report is that Hut 8 hit its second consecutive record quarterly revenue, with $33.5 million. The company’s CFO, Shane Downey, said:

"It is gratifying to see the core strengths of Hut 8, namely our people and operational excellence, combine to advance our commitment to building a diversified leader in the digital asset infrastructure space. Hut 8's disciplined approach to managing our balance sheet, while prioritizing the efficient accumulation of Bitcoin, served us well in Q2- 2021, and that as we continue to focus on execution, we are well-positioned heading into the back half of 2021 and into 2022."

Future FinTech Group Inc. (NasdaqCM:FTFT) has announced the incorporation of a new subsidiary, FTFT UK Limited, as an operating base from which to develop fintech business in Europe. According to the press release, FTFT UK aims to create “a new digital banking ecosystem based on blockchain technology to create a highly competitive financial services platform relative to traditional banks.” Shanchun Huang, CEO of FTFT, said:

“Our goal is to build an open, stable, safe, friendly and efficient way for customers to do their banking. We believe that we can leverage our core competencies with the challenger banking sector, which provides digital banking services through apps or websites, to build a comprehensive digital financial services platform that would be highly competitive to traditional banking. Our ultimate objective is to become a leading financial technology company and provide customers with a high-quality digital inclusive financial services platform for a superior user experience."

Bluesky Digital Assets Corp. (CSE:BTC) has mined an “implied and combined unaudited total of $316,500 CDN worth of cryptocurrencies for the month of July,” including the mining of 3.35 Bitcoin and 65.23 Ethereum (ETH). Ben Gelfand, the company’s CEO, said:

"We have always strategically maintained a diversified mining focus through a balanced mining approach on mixed virtual crypto currencies such as Bitcoin and Ethereum. Additionally, we have taken a staged approach to deploying assets and capital, this approach allows us to adapt and pivot to changes in the market and better protect against market volatility while maximizing returns. We are very pleased to see our strategy pay off and look forward to the continued expansion of our operations."

Sam Mowers, Investorideas

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