Vancouver, Kelowna, Delta, BC – April 1, 2022 (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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Crypto Corner Podcast 807: Stocks discussed: (NasdaqGM: BITF) (NasdaqCM: ANY) (CSE: KASH)
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Bitfarms Posts BTC Production Update for March, Sphere 3D Reports 2021 Financial Results, and Intellabridge Launches Kash USD Accounts in US
Stocks discussed: (NasdaqGM:BITF) (NasdaqCM:ANY) (CSE:KASH)
Bitfarms Ltd. (NasdaqGM:BITF) has posted its Bitcoin (BTC) production and mining operations update for March 2022. Highlights include 363 new BTC mined during the month – up 64 percent over March 2021, 5,243 BTC in custody as of March 31, and nearly 11,000 new Bitcoin miners capable of over 1 EH/s either received or in transit. The company’s CEO, Emiliano Grodzki, said:
“Adding 400 petahash per second to our hashrate in March, we are rapidly approaching our goal of 3 exahash per second (EH/s), which we expect to reach within the next week. Driving the increase in our hashrate was the addition of one of our new Sherbrooke locations, phase one of The Bunker, which was brought online in March. Another new Sherbrooke location, Leger, is on the verge of starting production that will immediately boost our hashrate over our 3 EH/s goal.
Daily BTC production has increased as a result and as of today averages 12.5 (BTC) per day. This is up 18% from our February average and equates to about US$575,000 in daily revenue at the current BTC price of US$46,000.”
Carbon-neutral bitcoin mining firm Sphere 3D Corp. (NasdaqCM:ANY) has reported its financial results for the year ended December 31, 2021. Highlights include a net revenue of $3.7 million – down from $4.8 million in 2020, and operating expenses of $21.4 million – up from $8.2 million in 2020. Peter Tassiopoulos, CEO of Sphere 3D, commented:
“In 2021, we entered into an agreement to purchase 60,000 Bitmain S19j Pro Bitcoin Miners, representing over 6.0 exahash of capacity. We entered into agreements with Gryphon Digital Mining to manage the operation of the machines and with Core Scientific to host them. After the year-end, we began mining bitcoin with the first 1,000 S19j Pro miners activated. As deliveries of additional miners ramp up throughout 2022, we expect to see a significant increase in revenue.”
Intellabridge Technology Corp. (CSE:KASH) has announced the launch of Kash USD Accounts in the United States, giving customers “FDIC insured USD accounts and the ability to on-ramp from US Dollars into decentralized finance (DeFi) to earn a 10% stable interest rate on their Kash savings accounts.” Kash is described as “the next generation digital banking platform based on a hybrid of decentralized finance, stablecoin technology, and traditional financial services.” John Eagleton, CEO of Intellabridge, said:
“With our product, Intellabridge has become the first publicly traded decentralized finance company with a working product empowering individual users with an alternative to traditional banking. Leveraging blockchain technology with self-custodial accounts, Kash enables access to high-earnings DeFi money markets.”
Sam Mowers, Investorideas
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