Millennial Wants
and Needs Powering up #Crypto Sectors (OTCQB: $INTV) (NASDAQ: $MARA) (OTCQX:
$HVBTF) (OTCQX: $GBTC)
Point Roberts WA,
Delta BC – April 12, 2019 - Investorideas.com, a global investor news source covering
blockchain and cryptocurrency issues a special edition
of the Crypto Corner looking at recent news and developments in
the cryptocurrency sector.
Cryptocurrencies are
experiencing a rise in price again, with Bitcoin reaching its 400 Millionth
transaction recently. From a recent Independent article; “Around 350,000 transactions take place
every day across its (meaning Bitcoin’s) decentralised blockchain, with many of
these transactions currently passing through China where the majority of bitcoin mining operations are located, however this may soon be about to
change. The country's economic planning agency announced this week that it is
considering a ban on bitcoin mining – the process of generating new units of
the cryptocurrency by providing the computing power needed to confirm
transactions. If implemented, the ban would have a significant impact on the
bitcoin network and potentially even the price of bitcoin, with analysts
suggesting it could cause further price rises.”
"It's more
likely to push bitcoin prices up than down," market analyst Mati Greenspan
told The Independent this week.
"The loss of cheap Chinese electricity would raise the mining cost, which
is net positive on price."
This is good news for cryptocurrencies like Bitcoin and
Ethereum, as well the US crypto-mining companies looking to fill the void China
will leave. Integrated Ventures Inc.
(OTCQB: INTV), a company engaged in digital currency mining
operations, (both manufacturing equipment and selling mining rigs) as well as
developing blockchain software, recently announced the execution of a Letter of Intent to acquire a fully
permitted and currently idled, 80 MW natural gas-fired combined heat and power
plant, located in Pennsylvania.
The Company intends to complete the restart of the Power
Plant and to launch cryptocurrency operations within 4-5 months. The Company
operations will focus on (i) mining using the Company’s owned mining rigs, (ii)
hosting third-party mining rigs and (iii) operating a mining pool.
Steve Rubakh, CEO commented, “Cogeneration is a proven
technology that produces 3 cents power, up to 75% increase in efficiency,
delivers up to 70% in energy savings, up to 50% reduction in GHG emissions,
eliminates reliance on local utilities, and thus provides a stable and reliable
access to electricity. The Power Plant will generate electricity, at below
market cost, which turns 100% of rigs that mine BTC, ETH and LTC profitable.
Due to Power Plant's generation capacity of 80 MW, the Company will have an
unmatched ability to grow the revenue streams by gradually scaling mining and
hosting operations and by establishing synergistic partnerships with companies
operating in the same space.”
HIVE
Blockchain Technologies Ltd. (TSX.V:HIVE) (OTCQX:HVBTF), who recently announced its results for the third quarter ended December 31,
2018, is also looking to fill the infrastructure gap in this industry as
discussed in their financial results.
“The cryptocurrency ecosystem continues to undergo
significant volatility amid continually evolving regulatory review and
fluctuations in price,” said Frank Holmes, Interim Executive Chairman of HIVE.
“However, HIVE has remained committed to deploying infrastructure assets and
diversifying our business mix to commence mining of new coins. We continue to
accumulate Ethereum and Ethereum Classic and in the third quarter began adding
Bitcoin to our coin inventory. In the quarter we more than doubled our mining
capacity, negotiated improved financial terms with our largest partner and
added an additional 100 Petahashes (“PH”) of capacity at a significantly lower
cost than prior deployments.”
A recent Bloomberg article discussed how bitcoin’s latest gains
have helped boost the market, including Marathon
Patent Group, Inc. (NASDAQ: MARA), a digital asset technology company that mines
cryptocurrencies with a focus on the blockchain ecosystem and the generation of
digital assets, and is currently operating one mining facility in Quebec.
Marathon recently announced a four-for-one reverse stock split of its outstanding
common stock, intended to bring the Company into compliance with the minimum
average closing share price requirement for maintaining its listing on the
Nasdaq Capital Market.
According to a recent survey from eToro US, growing interest from millenials is also
helping drive the price of crypto. “We’re seeing the beginning of a
generational shift in trust from traditional stock exchanges to crypto
exchanges,” says Guy Hirsch, Managing Director of eToro US. “Younger investors’ experience with the stock
market has seen a great deal of loss of trust, with the fall of Lehman Brothers
because of irresponsible practices followed by the worst recession since the
Great Depression. As more investors become educated in the benefits of the
blockchain, we’ll continue to see this trend play out.”
Grayscale Investments, LLC, a
global leader in digital currency asset management released its 2018 Grayscale Digital Asset Investment Report, a comprehensive report that highlights investment
activity across the Grayscale family of products in 2018, which very much
aligned with the eToro survey results. Grayscale raised $359.5 million into its
single-asset and diversified investment products, marking the strongest fundraising
year in Grayscale's history and nearly three times more capital than was raised
in 2017.
Bitcoin continued to be the most dominant digital currency
for Grayscale investors. In the fourth quarter, 88% of all capital inflows went
into Grayscale Bitcoin Trust™ (OTCQX: GBTC). Notably, institutional investors accounted for 66% of
all new investment dollars in 2018, despite the broad-based price reduction
across digital currencies.
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