#CryptoCorner #Podcast: #Cryptocurrency #Stocks in the News: (NasdaqGM: $SDIG) (NasdaqCM: $MIGI) (TSXV: $CBIT.V)
Stronghold Digital Mining to Acquire 5,000 New Miners, Mawson Infrastructure Sells Texas Sites, and Cathedra Bitcoin Posts Operational Update
Vancouver, Kelowna, Delta, BC April 21, 2023 - 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.
Today’s podcast is sponsored by Fintech Company AppTech Payments Corp. (NasdaqCM:APCX).
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Stocks discussed: (NasdaqGM:SDIG) (NasdaqCM:MIGI) (TSXV:CBIT)
Stronghold Digital Mining, Inc. (NasdaqGM:SDIG) has entered into a Master Sales and Purchase Agreement to acquire 5,000 new, latest-generation MicroBT Whatsminer M50 miners. These M50 Miners boast an average hash rate of 118 terahash per second and an energy efficiency of 28.5 joules per terahash. Greg Beard, Stronghold’s Chairman and CEO, explained:
“We expect that the M50 Miners will generate revenue of over $100 per MWh based on current hash price, with minimal incremental cash operating costs, which represents significant potential uplift to revenue and cash flow. We believe that such cash flow uplift would allow us to recover our entire investment in approximately one year based on current hash price, forward power prices, and 95% assumed miner uptime. Said differently, we believe that the purchase price represents approximately one times the annual cash flow uplift, which we view as highly accretive for the Company and our shareholders.”
Mawson Infrastructure Group, Inc. (NasdaqCM:MIGI) has signed and closed a binding sale agreement for its greenfield sites in Midland, TX for “$8.5m in cash and stablecoins.” This transaction involved the sale of 100 percent of Mawson’s subsidiary, Luna Squares Texas LLC, as well as 59 transformers which were earmarked for these Texas sites. Mawson’s CEO, James Manning, commented:
“We are incredibly pleased to have closed the sale of our Texas sites. The proceeds of the sale will be used to ensure Mawson continues to reduce debt and start to expand our operations in 2023. We look forward to seeing our increased mining and power capacity online in Q2, 2023."
Cathedra Bitcoin Inc. (TSXV:CBIT) has posted an operations update. Highlights include the deployment of 490 Bitmain Antminer S19J Pro and 50 Bitmain Antminer S19 XP machines under the Kentucky hosting agreement it entered into on February 3, 2023, adding about 56 PH/s to the company’s total Bitcoin (BTC) mining hash rate. Cathedra also deployed around 400 of the total 773 Bitmain S19J Pro machines under the Washington lease agreement it entered into on January 29, 2023, adding an additional 40 PH/s to its hash rate. According to the press release, it expects to “complete the deployment of the remaining 373 machines at the Washington facility in the coming days.”
Sam Mowers, Investorideas
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Podcast sponsor:
AppTech Payments Corp. (NasdaqCM:APCX) is an innovative Fintech company whose mission is to deliver a better way for businesses to provide their customers with immersive commerce experiences. Commerse™, its all-new, patent-backed technology platform powering seamless omni-channel Commerce Experiences-as-a-Service (CXS), drives highly secure, scalable, cross-border digital banking, text-to-pay, crypto payments and merchant services altogether from a single, unified stack designed to increase operational efficiencies and growth for businesses while providing the economic convenience that their customers demand from today’s commerce experiences. For more information, visit apptechcorp.com.
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