Investor Ideas, Trading Ideas and Stocks to Watch : #CryptoCorner #Podcast: #Cryptocurrency #Stocks in the News: (NasdaqGM: $BITF) (NasdaqCM: $BTBT) (NasdaqGS: $ARBK)

Thursday, June 08, 2023

#CryptoCorner #Podcast: #Cryptocurrency #Stocks in the News: (NasdaqGM: $BITF) (NasdaqCM: $BTBT) (NasdaqGS: $ARBK)

#CryptoCorner #Podcast: #Cryptocurrency #Stocks in the News: (NasdaqGM: $BITF) (NasdaqCM: $BTBT) (NasdaqGS: $ARBK)

Bitfarms Purchases High Efficiency Miners, Bit Digital and Argo Blockchain Post Updates for May

Vancouver, Kelowna, Delta, BC June 8, 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).

Listen to today’s Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2023/060823-CryptoMarket.mp3

Read this in full at https://www.investorideas.com/news/2023/crypto-corner/06081BITF-BTBT-ARBK.asp

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Stocks discussed: (NasdaqGM:BITF) (NasdaqCM:BTBT) (NasdaqGS:ARBK)

Bitfarms Ltd. (NasdaqGM:BITF) has announced its purchase of 550 PH/s of new high efficiency BTC miners for $7.7 million. In total, 4,660 miners were purchased for $13.94/TH with a blended energy efficiency of 28 W/TH. Ben Gagnon, Bitfarms’ Chief Mining Officer, said:

“We secured additional miners to build upon our momentum in Argentina and Quebec. These new miners will have the highest efficiency in our fleet and improve our average energy and operating costs while minimizing capital expenditures. Representing 550 PH/s, these miners will be used for expansion and fleet optimization, and we expect them to push our corporate hashrate beyond our September 30, 2023, target of 6 EH/s. With this transaction’s competitive pricing, we continue to execute our strategy of accretive growth along with judicious capital management.”

Bit Digital, Inc. (NasdaqCM:BTBT) has announced its unaudited digital asset production and corporate updates for the month of May 2023. Highlights include the production of 113.2 Bitcoin (BTC) – representing a 31 percent increase over the prior month (driven by a higher average active hash rate), a deployed fleet of 11,513 active Bitcoin miners as of May 31, and treasury holdings of BTC and Ethereum (ETH) were 453.6 and 10,996.0 with a fair market value of approximately $12.3 million and $20.6 million, respectively, as of May 31.

Argo Blockchain (NasdaqGS:ARBK) has posted an operational update for May 2023. Highlights include the mining of 173 Bitcoin or Bitcoin Equivalents (at a rate of 5.6 BTC per day) representing a 16 percent increase over the previous month, and a total hashrate capacity of 2.5 EH/s. Seif El-Bakly, Argo's Interim CEO, said:

"I'm pleased by the significant increase in the Company's BTC production during the month of May. This is a testament to the hard work of our mining operations team to optimise performance across our fleet. Over the long term, I believe increased Bitcoin network activity has the potential to drive demand for blockspace and increase miner fees."

Sam Mowers, Investorideas

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

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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