Point Roberts, WA and Delta, BC – April 30, 2021 (Investorideas.com Newswire) 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.
Listen to today’s Crypto Corner Podcast:
Crypto Corner Podcast 581: Stocks discussed: (NasdaqGS: $COIN) (NasdaqGS: $MSTR) (TSX: $HUT.TO) (TSX: $GLXY.TO) (NasdaqGS: $BTBT)
Stocks discussed: (NasdaqGS:COIN) (NasdaqGS:MSTR) (TSX:HUT) (TSX:GLXY) (NasdaqGS:BTBT)
Coinbase (NasdaqGS:COIN) announced that it is acquiring institutional data analytics platform Skew, according to a blog post by Greg Tusar, the company’s vice president of institutional products. Tusar explains:
We know that access to high quality data is essential for institutions assessing investments in crypto assets. That’s why we’re excited to integrate skew’s data analytics platform with Coinbase Prime, allowing our customers to track cryptocurrency spot and derivatives markets in real-time. With skew, we’ll arm professional traders with dynamic, aggregated market data, presented in a highly actionable format, all within our market leading prime brokerage.
MicroStrategy Incorporated (NasdaqGS:MSTR) intends to continue holding and acquiring Bitcoin (BTC), according to the company’s first quarter 2021 financial results, published today. The company’s CEO, Michael Saylor, commented:
“We continue to be pleased with our bitcoin strategy. We successfully raised more than $1 billion of additional capital in the quarter to expand our bitcoin holdings, which now exceed 91,000 bitcoins. We also hosted a very successful ‘Bitcoin for Corporations’ track at MicroStrategy World(TM) where we utilized our thought leadership in the cryptocurrency market to show how organizations can incorporate digital assets into their balance sheet management. We will continue to acquire and hold additional bitcoin as we seek to create additional value for shareholders.”
Hut 8 Mining Corp. (TSX:HUT) has partnered with Galaxy Digital Holdings Ltd. (TSX:GLXY) on a “tailored lending deal that will enable Hut 8 to earn a 4% yield on 1,000 bitcoin, and provides access to a $20 million USD revolving credit facility.” Hut 8’s CEO, Jaime Leverton, said:
“We opened a Bitcoin Yield Account and put 1,000 Bitcoin with Genesis mining earlier this year, and are excited to be adding Galaxy Digital to our roster of strategic and valuable partnerships. This partnership with Galaxy allows us to earn revenue from the significant Bitcoin on our balance sheet, minimize Hut 8’s Fiat expenses, and further our mission to hold and build our Bitcoin reserves, rather than sell.”
Bit Digital, Inc. (NasdaqGS:BTBT) has reported its first quarter results for 2021. Highlights include the earning of 1,013.40 bitcoins, and the purchase of 4,871 miners on the spot market, which brought the company’s maximum hash rate to 2,574 PH/S. Bryan Bullett, Bit Digital’s CEO, said:
“We achieved this scale through our differentiated approach of spot market miner sourcing, and through entry into partnerships with valued hosting providers, to secure access to electricity and facilities at competitive rates. We also took advantage of opportunities to migrate our miners on a seasonal basis to opportunistically access lower-cost power, a material portion of which comes, on average, from renewable sources.”
Sam Mowers, Investorideas
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