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TORONTO, March 29, 2021 (GLOBE NEWSWIRE) — Digihost Technology Inc. (“Digihost” or the “Company”) (TSXV: DGHI; OTCQB: HSSHF) is pleased to announce the acquisition of 700 Bitmain S17+ 76TH miners for a total purchase price of US$4.025 million, that would increase the Company’s hashrate by 50PH, or approximately 20% in the second quarter of 2021. The Bitmain S17+ miners are scheduled for delivery in early April and will be deployed immediately.
The addition of the 700 Bitmain S17+ miners, based on the current price of Bitcoin (“BTC”) and level of mining difficulty, would increase the Company’s monthly mined BTC by approximately 9 BTC, which would translate to an additional US$400,000 of operating profit per month. The new miners will be installed at the Company’s existing mining facility in Upstate New York.
Michel Amar, the Company’s CEO, stated: “We continue to aggressively pursue every new opportunity that aligns with our goal to expand operations through the strategic acquisition of Bitcoin miners and low-cost sources of clean energy. The acquisition and immediate deployment of these new miners is the first in, what we expect to be, many new acquisitions going forward. We are excited to implement our plan to utilize the expanded 3EH hashing capacity from our recently announced acquisition of a 60MW power plant (press release: March 24, 2021), where it is expected that the Company’s energy cost would be further reduced by up to 40%.”
The total purchase price of US$4,025,000 will be comprised of cash consideration of US$2.975 million and issuance to the vendor of 533,781 common shares of the Company with a deemed value of US$1,050,000 (CAD$1,329,114 (CAD$2.49 per share)). The securities issuable in connection therewith will be subject to a statutory four month and a day hold period, and will be subject to TSX Venture Exchange and all required regulatory approvals.
About Digihost Technology Inc.
Digihost Technology Inc. is a growth-oriented blockchain technology company primarily focused on Bitcoin mining. The Company’s mining facilities are located in Upstate New York, and are equipped with 78.7 MW of low-cost power with the option to expand to 102MW. The Company is currently hashing at a rate of 190PH with potential to expand to a rate of 3EH.
For further information, please contact:
Digihost Technology Inc.
www.digihost.ca
Michel Amar, Chief Executive Officer
Email: michel@digihost.ca
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about potential further improvements to profitability and efficiency across mining operations including as a result of acquisitions of equipment and infrastructure, potential for the Company’s long-term growth, and the business goals and objectives of the Company. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: the ability to obtain regulatory approval for and complete acquisitions of equipment and infrastructure on the terms as announced or at all; the ability to successfully integrate the acquisitions of equipment and infrastructure on an economic basis or at all; continued effects of the COVID19 pandemic may have a material adverse effect on the Company’s performance as supply chains are disrupted and prevent the Company from operating its assets; a decrease in cryptocurrency pricing, volume of transaction activity or generally, the profitability of cryptocurrency mining; further improvements to profitability and efficiency may not be realized; the digital currency market; the Company’s ability to successfully mine digital currency on the cloud; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; and other related risks as more fully set out in the Annual Information Form of the Company and other documents disclosed under the Company’s filings at http://www.sedar.com. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about: the current profitability in mining cryptocurrency (including pricing and volume of current transaction activity); profitable use of the Company’s assets going forward; the Company’s ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of the Company to mine digital currencies on the cloud will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Castle Rock, CO, Feb. 11, 2021 (GLOBE NEWSWIRE) — Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot”, “Riot Blockchain” or the “Company”), one of the few NASDAQ-listed bitcoin mining companies in the United States, announced that it will achieve an estimated hash rate capacity of 1.06 Exahash per second (“EH/s”) with the deployment of the newly received 2,002 S19 Pro Antminers.
“Exceeding 1 EH/s in hash rate capacity marks a major milestone for the Company,” said Jason Les, CEO of Riot. “While we are proud of this accomplishment, we view it as the successful completion of just one of many steps of our ongoing growth plan. Riot continues to receive and deploy next-generation miners from Bitmain and remains on schedule to more than triple our currently deployed capacity by the fourth quarter of 2021.”
The 2,002 S19 Pro Antminers were received in connection with the purchase order from Bitmain as previously disclosed in August 2020, with installation expected to be completed over the next week. With the deployment of these 2,002 S19 Pro Antminers, Riot will have a total of 11,542 Antminers in operation. Riot’s hash rate capacity will reach an estimated 1.06 EH/s, representing a nearly 26% increase over its prior operational hash rate capacity upon installation of the new miners.
Riot has an additional 26,100 S19 Pro and S19j Antminers on order with Bitmain, which are scheduled for shipment each month through October 2021. Once fully deployed, the Company estimates it will have a total of 37,642 Bitmain Antminers in operation with an estimated aggregate bitcoin mining hash rate capacity of 3.8 EH/s. Based on recent shipments, Riot anticipates continued timely shipments in accordance with the Bitmain purchase orders.
About Riot Blockchain
Riot Blockchain (NASDAQ: RIOT) focuses on cryptocurrency mining of bitcoin. The Company is expanding and upgrading its mining operations by securing the most energy efficient miners currently available. Riot also holds certain non-controlling investments in blockchain technology companies. Riot is headquartered in Castle Rock, Colorado, and the Company’s mining facility operates out of upstate New York, under a co-location hosting agreement with Coinmint. For more information, visit www.RiotBlockchain.com.
Safe Harbor
The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “anticipates,” “believes,” “plans,” “expects,” “intends,” “will,” “potential,” “hope” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company’s periodic filings with the U.S. Securities and Exchange Commission (the “SEC”), including the factors described in the sections entitled “Risk Factors,” copies of which may be obtained from the SEC’s website at http://www.sec.gov. The Company does not undertake any obligation to update forward-looking statements contained in this press release.
CONTACT: PR Contact Riot Blockchain, Inc. PR@riotblockchain.com Investor Contact Riot Blockchain, Inc. IR@riotblockchain.com
[Blockchain Today Reporter Park Yohan] The interest and utilization rate of people in their 20s and 30s in the automatic investment of digital assets is increasing significantly.
Uprise (CEO Chung-yeop Lee), which provides digital asset robo-advisor’Haybit’, launched its new investment strategy, ForeFront, on November 2, 2020. It was revealed on the 9th that this has increased at a higher rate than the previous year.
From November 2, 2020 to January 2021, the total number of new subscribers increased by 259% compared to the previous quarter. The average operating amount per person increased 139% to about 14.6 million won.
The proportion of subscribers by age is 26% in their 20s, 47% in their 30s, 21% in their 40s, 6% in their 50s, and 1% in their 60s and over, accounting for 73% of the total, and the number of subscribers in their 20s and 30s. Compared to before the launch of the ForeFront strategy, increased by about three times.
The number of new female subscribers and the average operating amount per capita also increased by 446% and 85%, respectively, leading to active women’s investment in digital assets.
As of about 100 days after the ForeFront strategy was launched in November of last year, the average operation continuity per person (continued without reduction of investment) is 96% based on the investing customer on the day of the strategy launch, different from the propensity of general digital asset direct investors. It is also a characteristic of Haybit users that they are showing a typical form of investment.
In a questionnaire for Haybit users for 5 days from February 1st, the most satisfactory points were the convenience of automatic investment (51%), high return and ability to defend against falling markets (43%), and the reliability of the service. When asked, 73% of users said they either trust Haybit’s service or wholly.
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Goldman Sachs to Enter Crypto Custody Market | CBDCs: The Good and the Bad | Altcoin Updates: Curve, Filecoin, ZilPay, Zilliqa | Gemini Entering Esports and NFTs | PlasmaPay Partners with REN Protocol | AnRKey X Battle Wave 2323 Beta v 1.37 | Bitcoin is Now 14th Largest Global Currency
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⏰ Timestamps
0:00 Goldman Sachs to Enter Crypto Custody Market
1:26 CBDCs: The Good and the Bad
6:02 Altcoin Updates: Curve, Filecoin, ZilPay, Zilliqa
8:45 Gemini Entering Esports and NFTs
10:22 PlasmaPay Partners with REN Protocol
11:34 AnRKey X Battle Wave 2323 Beta v 1.37
12:16 Bitcoin is Now 14th Largest Global Currency
References:
https://www.coindesk.com/goldman-sachs-to-enter-crypto-market-soon-with-custody-play-source
https://filecoin.io/blog/eip-1559-in-filecoin/
https://www.gemini.com/blog/nfts-and-esports-a-match-made-in-heaven
Disclaimer:
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the content creators/reviewers and their risk tolerance may be different than yours. Altcoin Buzz is not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Please do your own due diligence and rating before making any investments and consult your financial advisor. The information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
Three months after seemingly changing course on crypto, the outspoken host of CNBC’s Mad Money is claiming he made a well-timed Bitcoin investment on Friday.
In an interview with TheStreet, Jim Cramer says he purchased Bitcoin (BTC) Friday morning when the price dipped under $18,000. The Mad Money host added he was treating the crypto asset as any other investment in a diverse portfolio.
“I will buy — like I usually do — as something comes down,” said Cramer. “I’ll get bigger and bigger and bigger. I just think that you want to diversify into all sorts of asset classes. I have gold. I’m going to diversify into some Bitcoin — not a big position for me — but it’s certainly important to be diversified, and Bitcoin is an asset and I want to have a balance of assets.”
i think i will buy some https://t.co/RjcBFQLCcg
— Jim Cramer (@jimcramer) December 11, 2020
Cramer said he believed the price of Bitcoin might “come down again” given its volatile history. However, he personally saw the $17,000s — the price when he claimed to purchase more BTC — as a “decent level”:
“[Bitcoin] is off nicely from the top. I like to buy something that’s off nicely from the top.”
The CNBC host was once an outspoken Bitcoin critic prior to the 2017 boom, saying that the crypto asset was going to “run out of steam. However, since being a guest on Bitcoin bull Anthony “Pomp” Pompliano’s podcast in September, Cramer has said he might invest 1% of his portfolio in Bitcoin.
The price of Bitcoin is $19,192 at the time of publication, having risen 2.6% in the last 24 hours.
Image Credit: Refer to Source
Author: Refer to Source Cointelegraph By Turner Wright
The price of Bitcoin fell more than 11% from the level of $19,200 due to the impact of the weekend’s plunge. The market value has also fallen from US$581 billion to US$512 billion, and on-chain analysts are comparing the price trend of the past week with the fractal trend of gold in the 1970s.
As Mark Twain’s famous narrative, “History never repeats itself, but often rhymes”, it seems appropriate here.
Other factors that affect the price fall are the supply and price fluctuations on spot exchanges, but if the selling started a few days ago continues, then contrary to most popular beliefs, this may be beneficial to the price of Bitcoin.
SuZhu, CEO of Deribit Exchange, commented on the fall in Bitcoin prices and its response to gold trends in the 1970s.
He said, “Any Bitcoin that continues to fall will show bullish sentiment because the facts show that we are following the development of gold in the 1970s. As the legendary macro investor Paul Tudor Jones said, he successfully used fractals to predict The super cycle of the stock market in the 1980s.”
As the relevance of Bitcoin to gold has declined, the narrative of “store of value” and Bitcoin as digital gold is now replaced by the fact of shortage of supply.
This is not only because of basic analysis, but also based on CoinMetrics’s correlation between Bitcoin and gold and its price chart analysis. We noticed that Bitcoin technically tends to follow the long-term cycle of gold on a logarithmic scale. Moreover, if it can track its movements as closely as the past three months since September 2020, then this indicates that after breaking ATH (new price high) traders, there may be a mid-term correction over the weekend (which is true).
In addition to the correlation with gold and falling prices, effective supply is also falling.
The supply of Bitcoin has dropped to its lowest level since 2019. If it continues to fall, the shortage argument may come into play again, because when institutions start buying bitcoins frantically again, prices will inevitably rebound, which may indicate that the cycle of the past week may continue to repeat itself.
Interestingly, this development was accompanied by the Citigroup’s announcement of a 2021 gold price target of $2500. Citi compares gold to the bull market of 1970-80. As early as 1970, there was gold that greatly exceeded the per capita money supply, which made it similar to the Bitcoin price rebound in 2020.
Regardless of whether we are in the 1970s or not, due to the increase in demand and the decline in correlation with gold, Bitcoin is likely to get rid of such a sharp correction fluctuation.
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