Investor Ideas, Trading Ideas and Stocks to Watch : #CryptoCorner #Podcast 687: #Stocks discussed: (NasdaqCM: $HIVE) (NasdaqGM: $BITF) (TSXV: $DGHI.V)

Tuesday, October 05, 2021

#CryptoCorner #Podcast 687: #Stocks discussed: (NasdaqCM: $HIVE) (NasdaqGM: $BITF) (TSXV: $DGHI.V)

#CryptoCorner #Podcast 687: #Stocks discussed: (NasdaqCM: $HIVE) (NasdaqGM: $BITF) (TSXV: $DGHI.V)

HIVE Blockchain Reports Q1 Results, Bitfarms Announces an Expansion of its Quebec Operations, and Digihost has Shared its Quarterly Bitcoin Production Results

Point Roberts, WA, Delta BC October 5, 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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Stocks discussed: (NasdaqCM:HIVE) (NasdaqGM:BITF) (TSXV:DGHI)

HIVE Blockchain Technologies Ltd. (NasdaqCM:HIVE) has reported its results for the first quarter ended June 30, 2021. Highlights include a gross revenue from digital currency mining of $32.7 million – up 466 percent over the same period last year, and a record quarterly net income of $18.6 million – an significant increase over the $1.8 million recorded the previous year. The company’s Interim Executive Chairman, Frank Holmes, said:

"HIVE now has the land, buildings, talent, and mining equipment we need to succeed. We are focused on improving efficiency and profitability by optimizing cryptocurrency mining output. We're lowering costs and maximizing our existing electrical and infrastructure capacity by installing new mining equipment as the orders roll in.”

Bitfarms Ltd. (NasdaqGM:BITF) has announced an increase in its corporate hashrate to over 1.6 Exahash per second (EH/s) through the expansion of operations at its Cowansville, Québec, facility and the installation of 450 newly arrived Bitmain S19j Pro miners. Emiliano Grodzki, CEO of Bitfarms, explained:

“Bitfarms is committed to developing the cost-effective infrastructure to support the 55,000 new generation Bitcoin mining machines scheduled to be delivered between now and the end of 2022. As Bitfarms upgrades its miner fleet and existing facilities while expanding into new geographies, we will continue to increase our ability to produce Bitcoin with greater efficiency across decentralized operations. Cowansville broadens our footprint in Canada and marks our first new capacity build-out in Québec in 2021. This is one of many projects that excite us about our growth opportunities and supports our goal of achieving 3 EH/s by the end of first quarter of 2022 and 8 EH/s by the end of 2022.”

Digihost Technology Inc. (TSXV:DGHI) has published its unaudited Bitcoin (BTC) production updates for the quarter ended September 2021. Highlights include the production of 133.02 BTC during the quarter, giving the company a total holdings value of 452.24 BTC. The company’s CEO, Michel Amar, said:

“We are extremely pleased with the continued success achieved by Digihost and are proud to report that in Q3 2021 we successfully mined a higher fair market value of Bitcoin than in any previous quarter since the Company’s inception. Our operations delivered a record number of coins this quarter despite voluntarily giving up peak hours of mining for five days during the month of August during peak community energy demand.” Amar continued, “As a Company, we are prepared to begin receiving a large quantity of new generation miners in Q4 2021. We remain especially well situated to scale up and thrive in the current mining environment and to increase our hashrate to up to 1.5 EH in by Q1 2022. We are committed to operating our business growth in an environmentally conscious way and our priority is to sustain our focus on green energy and ESG initiatives.”

Sam Mowers, Investorideas

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