Investor Ideas, Trading Ideas and Stocks to Watch : #CryptoCorner #Podcast 689: #Stocks discussed: (NasdaqGS: $MIGI) (NasdaqGM: $BITF) (NasdaqGM: $ARBK)

Thursday, October 07, 2021

#CryptoCorner #Podcast 689: #Stocks discussed: (NasdaqGS: $MIGI) (NasdaqGM: $BITF) (NasdaqGM: $ARBK)

#CryptoCorner #Podcast 689: #Stocks discussed: (NasdaqGS: $MIGI) (NasdaqGM: $BITF) (NasdaqGM: $ARBK)

MoneyGram Partners with Stellar Development Foundation, Bitfarms Signs Contracts for Production Facility in Argentina, and Argo Blockchain Shares September Operational Update

Point Roberts, WA, Delta BC October 7, 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/2021/100721-CryptoMarket.mp3

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Stocks discussed: (NasdaqGS:MIGI) (NasdaqGM:BITF) (NasdaqGM:ARBK)

Global digital P2P payments giant MoneyGram International, Inc. (NasdaqGS:MGI) has announced a partnership with the Stellar Development Foundation, described in the press release as “a non-profit organization that supports the development and growth of Stellar, an open-source public blockchain that allows money to be tokenized and transferred anywhere in the world.” The partnership will see integration of the Stellar blockchain, facilitated through Circle's USD Coin (USDC), with MoneyGram’s network, allowing “cash funding and payout in local currency for consumers using USDC, as well as near-instant backend settlement capabilities.” Alex Holmes, MoneyGram’s Chairman and CEO, said:

"At MoneyGram, one of our top strategic priorities is to pioneer cross-border payment innovation and blockchain-enabled settlement, and we're thrilled to now work with the Stellar Development Foundation to further our efforts. As crypto and digital currencies rise in prominence, we're especially optimistic about the potential of stablecoins as a method to streamline cross-border payments. Given our expertise in global payments, blockchain, and compliance, we are extremely well-positioned to continue to be the leader in building bridges to connect digital currencies with local fiat currencies."

Bitfarms Ltd. (NasdaqGM:BITF) has signed engineering, procurement and construction (EPC) contracts and commenced construction of a production facility in Argentina. Emiliano Grodzki, CEO of Bitfarms, explained:

“Our new high-production facility in Argentina, which is expected to accommodate over 55,000 miners upon completion, will greatly expand our capacity and global footprint. Combined with the expansion in Quebec, Canada and our planned build-out in Paraguay, we are positioned to achieve our corporate target of 8 exahash per second by year-end 2022. The Argentina facility is planned to produce Bitcoin using power at the attractive rate of just US 2.2 cents per kilowatt hour, substantially reducing our already low cost of mining Bitcoin. Leveraging our expertise and corporate infrastructure, as well as that of our highly respected construction partners, is part of our strategy to grow faster and more efficiently by mining Bitcoin with improved profit margins.”

Argo Blockchain (NasdaqGM:ARBK) has shared an operational update for September. During the month, the company mined 165 Bitcoin (BTC) (or Bitcoin Equivalent), making for a total amount mined year-to-date of 1479 BTC. This amounted to a mining revenue of £5.50 million ($7.59 million), down from £6.83 million ($9.43 million) in August.

Sam Mowers, Investorideas

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