Vancouver, Kelowna, Delta, BC – March 9, 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 790: Stocks discussed: (TSXV: CBIT) (NasdaqCM: DGHI)
Stocks discussed: (TSXV:CBIT) (NasdaqCM:DGHI)
An official statement from the White House today indicates that US President Joe Biden will be signing an executive order today to ensure the “responsible development of digital assets.” Coverage of the order from Cointelegraph points out that:
Despite fears that the order may resound a regulatory clampdown on the industry, the language of the document is fairly favorable, the key focus being the coordination and consolidation of various agencies’ efforts within a unified national policy.
In response to this news, the crypto market is very green today – in terms of cryptocurrencies and crypto stocks. Data from CoinMarketCap indicates that Bitcoin (BTC), for instance, is up over seven percent in the last 24 hours and is trading for roughly $42,000 USD at press time.
Apart from combating potential risks in the digital asset space, the executive order also encourages the Federal Reserve to explore the development of a central bank digital currency (CBDC).
Cathedra Bitcoin Inc. (TSXV:CBIT) has published its management’s 2021 annual shareholder letter, discussing energy markets, the monetary system, Bitcoin and central bank digital currencies, as well as the company’s plans. An excerpt reads:
Accumulating a formidable war chest of bitcoin on our corporate balance sheet is a priority for us. If one believes, as we do, that the next global monetary order will be built with Bitcoin at its center, then those companies with the largest bitcoin treasuries will thrive. We will continue to hold as much of our mined bitcoin as possible and may even supplement our mining activities with opportunistic bitcoin purchases on occasion.
At time of writing, Cathedra has 187 PH/s of hash rate active, and another 534 PH/s of hash rate contracted via purchases of mining machines we expect to be delivered from April through December of this year. Since we replaced the prior management team in September, we have grown Cathedra’s contracted hash rate by more than 300%. And we’re just getting started.
Digihost Technology Inc. (NasdaqCM:DGHI) has shared its unaudited Bitcoin production results for the month ended February 28, 2022. Highlights include the mining of around 50.85 BTC in the month, an increase of 45 percent over February 2021. The company’s CEO, Michel Amar, said:
“At the end of February and into the first week of March, Digihost continued to execute on its strategy of increasing the Company’s operating capacity by deploying new miners and expanding our hashrate by 20% to approximately 500PH. The Company anticipates further expansion of computing power in the months ahead as all Bitcoin miners received to-date, plus those in transit, are deployed. We are very pleased with the 45% increase in the number of Bitcoins mined in February compared to the same month in 2021 as Digihost continues to expand its operations while being almost completely carbon neutral.”
Sam Mowers, Investorideas
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