Investor Ideas, Trading Ideas and Stocks to Watch : #CryptoCorner #Podcast 900: #Stocks discussed: (NasdaqGS: $HUT) (NYSE: $BKKT) (CSE: $BIGG.C) (NYSE: $MA)

Friday, November 11, 2022

#CryptoCorner #Podcast 900: #Stocks discussed: (NasdaqGS: $HUT) (NYSE: $BKKT) (CSE: $BIGG.C) (NYSE: $MA)

#CryptoCorner #Podcast 900: #Stocks discussed: (NasdaqGS: $HUT) (NYSE: $BKKT) (CSE: $BIGG.C) (NYSE: $MA)

Hut 8 and Bakkt Holdings Announced Q3 Results, and Netcoins Announces Re-Launch of Netcoins Pay

Vancouver, Kelowna, Delta, BC November 11, 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) (NYSE:BKKT) (CSE:BIGG) (NYSE:MA)

Hut 8 Mining Corp. (NasdaqGS:HUT) has announced its financial results for the quarter ended September 30, 2022. The company reported a quarterly revenue of $31.7 million – down from $50.3 million in Q3 2021, the mining of 982 Bitcoin (BTC), and the installation of an aggregate of 2,205 new MicroBT M30S, M30S+, M30S++ and M31S+ miners at its three mining sites during the quarter. Shane Downey, CFO of Hut 8, explained:

"Our conservative approach to managing our balance sheet continues to be paramount for us at Hut 8. Notably, we improved our mining capacity by 10% while reducing the average cost to mine each Bitcoin by 29%, when compared to the second quarter of 2022. We remain steadfastly committed to effectively managing capital in today's challenging environment and believe we are well positioned to deliver shareholder value in 2023 and beyond."

Bakkt Holdings, Inc. (NYSE:BKKT) has reported its Q3 financial and operational results. Highlights for the quarter include a net revenue of $12.9 million – representing an increase of 41 percent year-over-year, and the announcement of an agreement to acquire Apex Crypto from Apex Fintech Solutions. Gavin Michael, Bakkt’s President and CEO, said:

"Our focus on execution is paying off and we are proud to have initial activations with our crypto capabilities. We are working closely with our partners to bring even more of them to market in the near-term. We are thrilled about the signing of the acquisition of Apex Crypto, which we expect will accelerate our growth plans post-close as it will significantly expand our client verticals and cryptocurrency product offering. We believe that Apex Crypto will be highly complementary with our platform and the acquisition will ultimately help us deliver long-term sustainable value for our partners, customers and shareholders."

Netcoins, the online cryptocurrency brokerage subsidiary of BIGG Digital Assets Inc. (CSE:BIGG), has announced the re-launch of Netcoins Pay in partnership with Koho Financial Inc. and Mastercard (NYSE:MA). Netcoins Pay is a card – either physical or virtual – which draws funds from the user’s Netcoins account, and earns them rewards in BTC with every purchase. Fraser Matthews, the President of Netcoins, said:

“Since the launch of Netcoins Pay, we have focused on the evolution of the product so that we can better serve our users. KOHO Financial Inc. has moved to Mastercard, which has allowed us to work closely with Mastercard’s global crypto team to plan a roadmap of enhancements that are specific to our product. We look forward to bringing Mastercard’s crypto card services to our Canadian users and launching innovative new features in 2023.”

Sam Mowers, Investorideas

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