Crypto prices may break out soon
FN Media Group presents market commentary from Microsmallcap.com
NEW YORK, 15 September 2022 /PRNewswire/ — Crypto prices have recently been more bullish for many reasons. One reason for the rise is that governments around the world are planning further rounds of extreme quantitative easing. It is possible that the crypto markets have already bottomed and the entire industry will not be affected by the pessimistic macro outlook. In the case of Bitcoin in particular, it may prove to be a risk-off asset, suggesting that even with a general market downturn, the price of Bitcoin will continue to rise over the following months and years. One can predict that Bitcoin would eventually surpass gold in value or even take some of the share of the bond market. If so, there is a lot of room for parabolic price growth for cryptocurrencies in the next few years. This is good news for crypto companies that WonderFi technologies (TSX:WNDR) ( OTCQB:WONDF ), BIGG Digital Assets Inc. (CSE:BIGG) ( OTCQX:BBKCF ), DMG Blockchain Solutions Inc. (TSX-V:DMGI) ( OTCQB:DMGGF ), Marathon Digital Holdings, Inc. (NASDAQ:MARA), and Riot Blockchain (NASDAQ:RIOT).
WonderFi Technologies (TSX:WNDR) (OTC:WONDF) is an industry leader in technology to improve access to digital assets for all users through centralized and decentralized platforms.
On 1 September, WonderFi announced that it has signed an agreement to acquire Blockchain Foundry (BCF), which is one of the top North American blockchain development companies.
“This acquisition further strengthens WonderFi as the Canadian leader in the digital asset space,” so WonderFi CEO Ben Samaroo. “BCF is on a great trajectory with a diverse set of intellectual property, brand partnerships and a revenue-generating track-record. The current economic conditions in the crypto market have made it attractive to WonderFi to be able to acquire companies like BCF that have the potential to compliment our core operational crypto-asset trading platforms Bitbuy and Coinberry, while adding cash, liquid digital assets and a portfolio of private emerging crypto investments to WonderFi’s balance sheet.”
For the fifteen months ended at 31 March 2022BCF recorded revenues of approx 1.67 million dollars. It also reported having cash and liquid digital assets worth approx 7.24 million dollars and a portfolio of private emerging crypto investments worth $500,000 per 30 June 2022.
BCF launched LastKnown in January 2022 as a non-fungible token (NFT) minting platform and marketplace for unique NFT drops from artists and collectors. To present, BCF has made three collections available from various award-winning artists on the platform.
IN May 2022a beta version of Metacademy, which is a learn-to-earn educational tool that teaches users how to create cryptocurrency wallets, create, buy and sell NFTs, distinguish between Web2 and Web3, and better understand the metaverse, among other things, was released by BCF .
Earlier this summer, WonderFi technologies also acquired coinberry, Canada’s first pure-play licensed crypto broker and one of Canada’s leading crypto-asset trading platforms registered with the Canadian Securities Administrators (CSA). The acquisition of Coinberry solidifies further WonderFi as a leader in the Canadian crypto industry, and together with the acquisition of BCF and Bitbuy earlier this year, it establishes a solid foundation for the company’s expansion into global markets.
For more information on WonderFi Technologies Inc (TSX:WNDR) ( OTCQB:WONDF ), Click here.
Crypto Miners Report Bitcoin Production
BIGG Digital Assets Inc. (CSE:BIGG) ( OTCQX:BBKCF ) announced on September 6 the US operations of Netcoin’s initial launch plan. Users can buy Bitcoin, Ethereum and other cryptocurrencies on Netcoins’ platform without financing costs or cash withdrawal fees. Located in WyomingNetcoins USA Inc. will open its trading platform in California, Pennsylvania, Michiganand Virginia to start operations in the fourth quarter of this year. In Q1 2023, Netcoins hopes to open new states, subject to approval, as part of its ambitious growth strategy. On 1 September, BIG made sure of a report on the company’s expansion performance in the 2nd quarter. With an annual contract renewal worth USD 270,000Blockchain Intelligence Group continues to offer real-time payments to more than 100,000 stores worldwide. It will continue to use the crypto insights ecosystem’s QLUETM for research and BitRank Verified® for automated risk monitoring tools from the Blockchain Intelligence Group.
DMG Blockchain Solutions Inc. (TSX-V:DMGI) ( OTCQB:DMGGF ) reinforced hashrate by 18% in the June quarter compared to the previous quarter, and continues to lay the foundation for the Core+ strategy as it works towards the goals of developing 1 EH/s with self-mining capability. Despite the volatile market, DMGits balance sheet is strong. Revenues decreased by 12% from the previous quarter to 10.5 million dollars from 11.9 million dollarsprimarily due to a corresponding drop in self-extraction revenues, which fell to 9.0 million dollars from 10.3 million dollars. Compared to the previous quarter, the average cost of a mined bitcoin fell by 19% C$42,288. DMG mined 212 bitcoin, an 8% increase from last quarter’s 195 bitcoin, with a 9% decrease in the network’s BTC per hash somewhat offsetting its 18% increase in realized hash rate to an average of 0.55 EH/s. DMG installed 87 PH/s mining capacity and mined 69 bitcoin August 2022. Per 31 August 2022the company had 362 bitcoins in its account.
Marathon Digital Holdings, Inc. (NASDAQ:MARA) produced 184 bitcoin in August. Year to date 31 August 2022, the company produced 2,222 bitcoins, representing a 26% increase over the same period last year. Per 31 August 2022there were 10,311 BTC in total holdings, with a fair market value of 206.7 million dollars. August saw the successful energization and start-up of about 25,000 of Marathon’s previously installed miners, or about 2.5 EH/s. As a result, per 31 August 2022, the company’s hashrate rose to about 3.2 EH/s. Compared to Q2 2021, Marathon‘s revenues fell to 24.9 million dollars in Q2 2022. This 4.4 million dollars The revenue drop was driven by reduced revenue per mined bitcoin, largely offset by an 8% increase in bitcoin mining activity.
Riot Blockchain (NASDAQ:RIOT) produced 374 BTC in August 2022 as opposed to 441 BTC in August 2021a decrease of almost 15%, while significantly reducing total power expenditure by using its patented power strategy. Riot had around 6,720 BTC per 31 August 2022, all of which came from the company’s mining operations. Due to its emphasis on Bitcoin mining, Riot continues to reach important milestones while positioning itself for potential prospects. For second quarterincreased total revenue by 112% more 72.9 million dollarscompared with 34.3 million dollars for the previous quarter. An increase in the amount of BTC mined, which was negatively impacted by lower BTC values in Q2 2022 compared to Q2 2021, resulting in a 47% increase in mining revenue to 46.2 million dollars for the quarter, compared to 31.5 million dollars for the same three-month period in 2021. Riot produced 107% more BTC in the three months ending in 30 June 2022to 1,395 BTC, compared to 675 BTC produced in the same period in 2021.
WonderFi’s core team of engineers and technologists at WonderFi is committed to enabling people around the world to access finance in a simple, smart and secure way. They share the belief that everyone should have fair access to finance.
DISCLAIMER: Microsmallcap.com (MSC) is the source of the above article and content. References to issuers other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison with the profiled issuer. FN Media Group (FNM) is a third-party publisher and provider of news delivery services, which disseminates electronic information through several web-based media channels. FNM is NOT affiliated with MSC or any company mentioned here. The comments, views and opinions expressed in this publication by MSC are solely those of MSC and are not shared by and do not in any way reflect the views or opinions of FNM. Readers of this article and its content agree that they cannot and will not seek to hold MSC and FNM responsible for the investment decisions of their readers or subscribers. MSC and FNM and their respective affiliates are a provider of news distribution and financial marketing solutions and are NOT registered broker-dealers/analysts/investment advisors, hold no investment licenses and may NOT sell, offer to sell or offer to buy securities.
The article and the content related to the profiled company represent the personal and subjective views (MSC) of the author and are subject to change at any time without notice. The information provided in the article and its content have been obtained from sources which the author believes to be reliable. However, the author (MSC) has not independently verified or otherwise investigated all such information. Neither the author, MSC, FNM nor any of their respective affiliates guarantee the accuracy or completeness of such information. This article and its contents are not, and should not be considered, investment advice or a recommendation regarding any particular security or action; readers are strongly encouraged to speak with their own investment advisor and review all of the profiled issuer’s filings with the Securities and Exchange Commission before making investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including but not limited to the complete loss of your investment. FNM was not compensated by any public company mentioned here for disseminating this press release, but was compensated twenty five hundred dollars by MSC, an unaffiliated third party to distribute this release on behalf of WonderFi Technologies Inc.
FNM DOES NOT OWN SHARES IN ANY COMPANY MENTIONED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results or strategies and are usually preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected “, “assumes”, “draft”, “eventually” or “projected”. You are warned that such statements are subject to a number of risks and uncertainties that may cause future circumstances, events or results to differ materially from those projected in the forward-looking statements, including the risk that actual results may differ materially from those projected. . in forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings by such company with the Securities and Exchange Commission. You should consider these factors when considering the forward-looking statements included herein and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof, and MSC and FNM undertake no obligation to update such statements.
Media contact:
UN Media Group, LLC
[email protected]
+1(561)325-8757
SOURCE Microsmallcap.com
