#CryptoCorner #Podcast: #Cryptocurrency #Stocks in the News: (NasdaqGM: $BITF) (NYSE: $BTCM) (TSXV: $CBIT.V)
Bitfarms Posts Production and Operations Update for April, BIT Mining Announces LD4 Mining Machine, and Cathedra Reports 2022 Financial Results
Vancouver, Kelowna, Delta, BC May 1, 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:BITF) (NYSE:BTCM) (TSXV:CBIT)
Bitfarms Ltd. (NasdaqGM:BITF) has posted its Bitcoin (BTC) production and mining operations update for April 2023. Highlights include the mining of 379 new BTC (12.6 BTC/day on average), and the selling of 349 BTC generating total proceeds of $10.1 million. Geoff Morphy, the company’s CEO, said:
“For April 2023, we were cash flow positive from operations after scheduled interest and principal payments. Reflecting improved mining economics, as in March, we sold less BTC than we produced, which resulted in a net addition of 30 BTC to treasury in April, bringing the total at month end to 465 Bitcoin.”
BIT Mining Limited (NYSE:BTCM) has announced the launch of the latest generation of its popular Dogecoin (DOGE) / Litecoin (LTC) mining machine, model LD4. Designed for mining on the DOGE and LTC blockchains “with peak hashrate and energy efficiency,” the LD4 “is the third ASIC mining machine developed by the Company since its acquisition of mining hardware manufacturer Bee Computing in 2022.” Xianfeng Yang, CEO of BIT Mining, explained:
"With each new model of mining machine that BTCM develops, we further calibrate our expertise, gaining additional experience with manufacturing products that help contribute to essential blockchain networks. The sophistication of our new model LD4 mining machine is currently unmatched in our industry. As one of the world's top cryptocurrency mining machine brands, we remain committed to continuing to develop new mining machines with the latest technology and promoting improved efficiency across the industry.”
Cathedra Bitcoin Inc. (TSXV:CBIT) has reported its fourth quarter and full-year audited financial results for 2022. Highlights include revenue of $8.7 million CAD from Bitcoin mining operations (up from $7.8 million in 2021), gross Bitcoin production of 244.7 BTC, and a 15 percent increase in net deployed BTC mining hash rate to 203 PH/s as of December 31, 2022. AJ Scalia, the company’s CEO, explained:
"We remain extremely optimistic about the future of bitcoin and Cathedra. At time of publication, we are generating approximately 28.58 gross bitcoin per month at an average cash cost of US$13,778 per bitcoin across a hash rate portfolio totaling 343 PH/s. With 11 modular data centers on hand from our GAM partnership and proprietary Rover manufacturing, plus an inventory of over 2,000 idle older-generation machines, we are spring-coiled to thrive as mining conditions continue to improve. We thank our shareholders for their continued support and look forward to delivering returns for them as Bitcoin continues up the global adoption curve."
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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