#CryptoCorner #Podcast 862: #Stocks discussed: (NasdaqCM: $MARA) (NasdaqGS: $HUT) (TSXV: $BNXA.V)
Marathon and Hut 8 Post June Updates, and Banxa Announces New Developments
Vancouver, Kelowna, Delta, BC July 8, 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 unaudited Bitcoin (BTC) production and miner installation updates for June 2022. Highlights include the production of 707 self-mined bitcoin during Q2 2022, the installation of 29,640 miners at the company’s Texas facilities, and total Bitcoin holdings at 10,055 BTC. Fred Thiel, Marathon’s chairman and CEO, explained:
“In Texas, despite multiple assurances that energization would occur in June, Compute North’s energy provider is still awaiting federal agency confirmation of its exempt status for tax purposes based upon its arrangements with Compute North. In the meantime, installations of our miners have been progressing on schedule. We now have 29,640 miners, representing approximately 2.9 exahashes per second, installed and ready for energization in Texas. Approximately 20,000 of these miners, representing an estimated 1.9 exahashes per second, have been installed at Compute North’s first major facility, which is located on a wind farm in West Texas.”
Hut 8 Mining Corp. (NasdaqGS:HUT) has posted a production and operations update for June 2022. Highlights include the mining of 328 Bitcoin (average of 10.9 per day), a total Bitcoin balance held in reserve of 7,406 as of June 30, and an installed operating capacity of 2.78 EH/s. The company’s CEO, Jamie Leverton, said:
"The team had a successful month in North Bay and will continue to scale up over the next few weeks. We are confident that our HODL strategy, coupled with the uncorrelated recurring revenue from our high performance computing business, will allow us to continue to successfully navigate the current market."
Banxa Holdings Inc. (TSXV:BNXA) has announced some key growth and product launches for the period ending June 30. This includes the enabling of local payments in South Africa, and the signing of 16 new partners. Holger Arians, the company’s CEO, said:
"Local payments are one of the key reasons our partner ecosystem is so strong and continues to grow. As the only major on-ramp to offer local payments in South Africa we provide our partners access to millions of end users looking to purchase digital assets with lower fees than credit cards and higher payment conversions. For Banxa, our payment service allows for greater liquidity in the digital asset space without direct exposure or balance sheet exposure to the underlying assets. This is a major milestone for Banxa, our partners and their users."
Sam Mowers, Investorideas
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