Investor Ideas, Trading Ideas and Stocks to Watch : #CryptoCorner #Podcast 829: #Stocks discussed: (NasdaqCM: $MARA) (NasdaqGS: $HUT) (TSXV: $BNXA.V)

Friday, May 06, 2022

#CryptoCorner #Podcast 829: #Stocks discussed: (NasdaqCM: $MARA) (NasdaqGS: $HUT) (TSXV: $BNXA.V)

#CryptoCorner #Podcast 829: #Stocks discussed: (NasdaqCM: $MARA) (NasdaqGS: $HUT) (TSXV: $BNXA.V)

Marathon and Hut 8 Post April Production Updates, and Banxa Expands with Web3 Hedera Partnership

Vancouver, Kelowna, Delta, BC May 6, 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.

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Stocks discussed: (NasdaqCM:MARA) (NasdaqGS:HUT) (TSXV:BNXA)

Marathon Digital Holdings, Inc. (NasdaqCM:MARA) has published its unaudited Bitcoin (BTC) production and miner installation updates for April 2022. Highlights include the production of 299 self-mined bitcoins during the month, the installation of approximately 4,200 miners, and an increase in total bitcoin holdings to 9,673 BTC. Fred Thiel, Marathon’s chairman and CEO, commented:

“In April, we grew our bitcoin holdings to 9,673 BTC as we successfully installed nearly 4,200 miners in containers and made substantial progress addressing some of the regulatory and permitting challenges related to breaking the mold on deploying behind the meter. Ongoing maintenance issues at the power generating station in Montana caused our bitcoin production to dip by approximately 30% in April. As we announced in April, we will be transitioning our miners out of Hardin in stages to minimize downtime and moving them to more sustainable sources of power during the third quarter.”

Hut 8 Mining Corp. (NasdaqGS:HUT) has also posted a production update for April 2022. Highlights include the mining of 309 Bitcoin, with an average production rate of 10.3 Bitcoin per day – all of which was deposited into custody, an installed operating capacity of 2.58 EH/s, and a total Bitcoin balance held in reserve of 6,769 as of April 30. Jason Zaluski, VP of Strategic Technologies, Hut 8, said:

"Our upgraded machines allow us to be as nimble and efficient as possible. Although April was unseasonably cold, limiting our mining during a few snowstorms, we were able to increase our hashrate."

Banxa Holdings Inc. (TSXV:BNXA) has announced a first-to-market Web3 partnership with the enterprise blockchain Hedera, which according to the press release, further cements “its commitment to creating more local on- and off-ramping infrastructure for people around the world.” This will involve Banxa becoming the first retail platform globally to support the USD-backed stablecoin USD Coin (USDC) on Hedera. Banxa CEO Holger Arians said:

"The Web3 ecosystem is only in its infancy, with significant opportunities for businesses and individuals worldwide. Banxa is thrilled to be the first fiat to crypto on- and off-ramp to support USDC on Hedera. Working with a leading enterprise-grade public ledger for the decentralized economy, we can continue to support the crypto ecosystem's expansion and the opportunities this brings."

Sam Mowers, Investorideas

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