#CryptoCorner #Podcast 877: #Stocks discussed: (NasdaqGS: $HUT) (NasdaqGS: $ARBK) (NYSE: $BKKT)
Hut 8 Partners with Zenlayer, Argo Blockchain Posts Half Year Results, and Sullivan Bank Partners with Bakkt
Vancouver, Kelowna, Delta, BC August 25, 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: (NasdaqGS:HUT) (NasdaqGS:ARBK) (NYSE:BKKT)
Hut 8 Mining Corp. (NasdaqGS:HUT) signed a partnership with distributed edge cloud service provider Zenlayer, to “bring industry-leading edge computing solutions to Web 3.0, blockchain, and enterprise customers.” This will allow customers of Hut 8 to “deploy and run their applications using Zenlayer's edge cloud platform,” according to the press release. Jaime Leverton, CEO of Hut 8, said:
"We are thrilled to welcome Zenlayer as a trusted partner to mutually enhance our offerings for high-performance computing to our existing and future customers. Zenlayer is a global leader in edge cloud services, and we are proud to be the first to bring their services to Canada and continue growing the cloud solutions landscape for Web 3.0, blockchain, and enterprise customers."
Argo Blockchain (NasdaqGS:ARBK) has posted its results for the six months ended June 30. Highlights include the mining of 939 Bitcoins (BTC) or Bitcoin Equivalent, $32.5 million USD in revenues, and 1,953 Bitcoin held by the period’s end. The company’s CEO, Peter Wall, said:
"The delivery and installation of the approximately 20,000 S19J Pro machines from Bitmain continues to progress on schedule, and we still expect to have all of these machines installed by October 2022. The revision to our hashrate guidance reflects our current expectations for delivery and deployment of the custom machines we are developing with ePIC Blockchain Technologies ("ePIC") that utilize the Intel® Blockscale™ ASIC chips. We have worked closely with ePIC and Intel to modify the machine design to increase total mining efficiency, which has delayed our expected deployment schedule. Further, we are preserving our optionality by reducing our overall capital spending on these machines as market conditions remain volatile. We remain confident in the performance of the custom machines and are excited to deploy them starting in Q1 2023."
Sullivan Bank has partnered with Bakkt Holdings, Inc. (NYSE:BKKT) to deploy the latter’s Crypto Connect so as to enable its customers to buy, sell and hold Bitcoin and Ethereum (ETH). Mallory Farrell, COO of Sullivan Bank, commented:
"We are excited to provide opportunities for customers to access a growing and increasingly in-demand asset class with peace of mind with regard to security and regulation. Bakkt’s innovative platform will facilitate this new capability within our existing banking platform and customers will be able to view their crypto balance alongside their checking and savings balance all in the same place."
Sam Mowers, Investorideas
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