Investor Ideas, Trading Ideas and Stocks to Watch : #CryptoCorner #Podcast 746: #Stocks discussed: (NasdaqGM: $BITF) (TSX: $GLXY.TO) (NasdaqCM: $FTFT) (TSXV: $CSTR.V)

Monday, January 03, 2022

#CryptoCorner #Podcast 746: #Stocks discussed: (NasdaqGM: $BITF) (TSX: $GLXY.TO) (NasdaqCM: $FTFT) (TSXV: $CSTR.V)

#CryptoCorner #Podcast 746: #Stocks discussed: (NasdaqGM: $BITF) (TSX: $GLXY.TO) (NasdaqCM: $FTFT) (TSXV: $CSTR.V)

Bitfarms Secures $100M Credit Facility with Galaxy Digital LLC, Future FinTech Subsidiary Launching FTFTX, and CryptoStar Provides Operations Update

Point Roberts, WA, Delta BC January 3, 2022 - 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/2022/010322-CryptoMarket.mp3

Read this in full at https://www.investorideas.com/news/2022/crypto-corner/01031BITF-GLXY-FTFT-CSTR.asp

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Stocks discussed: (NasdaqGM:BITF) (TSX:GLXY) (NasdaqCM:FTFT) (TSXV:CSTR)

Bitfarms Ltd. (NasdaqGM:BITF) has secured a $100 million credit facility with Galaxy Digital LLC, an affiliate of Galaxy Digital Holdings Ltd. (TSX:GLXY), backed by Bitcoin (BTC). Jeff Lucas, the CFO of Bitfarms, explained:

“Bitcoin mining is a highly capital-intensive industry. We seek to strike a balance between maximizing financing flexibility and minimizing our overall cost of capital. Our new $100 million BTC credit facility adds another component to our diversified financing strategy and contributes significant non-dilutive capital to fund our global growth initiatives, which include four farms with 298 Megawatts mining capacity under construction.

With over 3,300 BTC presently held in treasury, we are leveraging the value of our BTC holdings while increasing working capital flexibility. We plan to utilize these funds for general corporate purposes in support of our goals of achieving hash rates of 3 Exahash per second (EH/s) by March 31, 2022 and 8 EH/s by December 31, 2022, as well as future miner purchases.”

FTFT Capital Investments LLC, a subsidiary of Future FinTech Group Inc. (NasdaqCM:FTFT), has announced the launch of FTFTX, described in the press release as “an innovative global cryptocurrency market data platform that provides institutional and individual investors with real-time, high-quality and reliable cryptocurrency market data and aggregate trading information from a large number of cryptocurrency exchanges.” FTFT Capital’s Director, Ola Lind, said:

“We believe that efficiency, security and reliable market data are essential for cryptocurrency investors around the globe. With this in mind, we set out to provide an investor-oriented, results-driven platform that would help investors to maximize returns on their cryptocurrency investments. By offering robust, secure and real-time market information, we believe that FTFTX delivers a reliable global platform with aggregated real-time market information that gives participants a superior user experience."

CryptoStar Corp. (TSXV:CSTR) has shared an update on its business operations and developments on its data centre operations in Alberta, Canada. Significantly, the company has been notified by DBA Avila Energy, its Alberta partner, that the latter’s natural gas power generation site in the province has been shut down. Consequently, CryptoStar has experienced a reduction in its self-mining Hashrate of 53,514 MH/s from GPU miners and 50.3 PH/s from ASIC miners that were running at the site. According to the press release, the “company plans to redeploy its reduced self-mining Hashrate as expeditiously as possible in Q1 2022.”

Sam Mowers, Investorideas

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