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Crypto Corner Podcast 698: Stocks discussed: (NYSEArca: BITO) (NasdaqCM: RIOT) (CSE: BIGG)

Point Roberts, WA and Delta, BC – October 20, 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.

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https://www.investorideas.com/Audio/Podcasts/2021/102021-CryptoMarket.mp3

Crypto Corner Podcast 698: Stocks discussed: (NYSEArca: BITO) (NasdaqCM: RIOT) (CSE: BIGG)

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Stocks discussed: (NYSEArca:BITO) (NasdaqCM:RIOT) (CSE:BIGG)

Bitcoin (BTC) has claimed a new all-time high (ATH) trading price this morning, having rocketed past its former peak of $64,900 – set in April this year – and being priced at roughly $66,500, at press time, according to data from CoinMarketCap. This, of course, is largely fuelled by the recent debut of trading of the ProShares Bitcoin Strategy ETF (NYSEArca:BITO), which recorded around $1 billion in volume on its opening day, according to Cointelegraph.

Riot Blockchain, Inc. (NasdaqCM:RIOT) is developing 200 megawatts (MW) of immersion-cooled Bitcoin Mining Infrastructure technology at its Whinstone facility. This development will encompass two buildings under construction at the facility, and “is expected to host approximately 46,000 S19 Antminers from Riot’s already-purchased miner fleet.” Jason Les, CEO of Riot, said:

“After months of research and development, utilizing partnerships across industries, Riot is proud to be a pioneer in the use of cutting-edge immersion-cooling technology at an unprecedented scale. By leveraging technology, industry-leading low power costs, and economies of scale, Riot intends to continue driving operating and capital efficiencies for its self-mining business and its institutional clients. Due to these efficiencies, we anticipate observing an increase in the Company’s hash rate and productivity through 2022, without having to rely solely on purchasing additional ASICs.”

BIGG Digital Assets Inc. (CSE:BIGG) has announced that its treasury holds over 450 Bitcoins, with a market value of CAD ~$35 million as of October 19, 2021. Furthermore, the company’s online cryptocurrency brokerage subsidiary, Netcoins, also reports that “customer deposits, of crypto and fiat, on the Netcoins trading platform now exceeds CAD $85 million up from CAD ~$45 million in March 2021.” BIGG’s CEO, Mark Binns, said:

“As we continue to build our core businesses, Blockchain Intelligence Group and Netcoins, we are pleased to also manage our treasury with a mix of Bitcoin and fiat. Our Bitcoin holdings continue to perform very well, and we expect to see significant upside in the value of Bitcoin over the coming months and quarters. We are also equally pleased to see the growth in assets under custody at Netcoins – demonstrating that our customers are putting more of their hard earned money to work trading crypto at Netcoins than ever before.”

Sam Mowers, Investorideas

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