Investors Flock to Crypto in an Effort to Buttress Portfolios Against Inflation

NEW YORK, Nov. 16, 2021 /PRNewswire/ — Blockchain infrastructure has become even more complex as more and more businesses are accepting cryptocurrencies as a way of payment processing. Overall, the crypto market is slowly but surely becoming a crucial component of banking, investing, secure digital payments and more. As a result of a growing demand for digital currencies in the banking and financial landscape, companies like PayPal, Mastercard, Overstock, Etsy and many others have updated their digital payments technology to accept Bitcoin. Then there is Coinbase, which announced earlier in September that it is delving deeper into traditional financial services, allowing users to deposit paychecks directly into their online accounts. “With direct deposit, customers can more easily access our crypto-first financial services and be ready for any trade or purchase,” Max Branzburg, Vice President of Product at Coinbase, said in a blog post. “We’re determined to deliver the most trusted full suite of crypto-first financial services to our 68 million users.” ISW Holdings Inc. (OTC: ISWH), BIT Mining Limited (NYSE: BTCM), HIVE Blockchain Technologies Ltd. (NASDAQ: HIVE), SOS Limited (NYSE: SOS), Ebang International Holdings Inc. (NASDAQ: EBON)

As for the role of digital currencies in the macroeconomic landscape, it seems assets like Bitcoin are taking on a similar role as gold in a time of inflation, being viewed as store-of-value assets and as hedge against inflation. Simon Peters, crypto asset analyst at the trading platform eToro, explained that Bitcoin’s price reaction to the CPI report is not only a “signal that the market is extremely averse to inflationary pressure, it is a sign investors are now firmly using bitcoin as a hedge against rising prices,” according to a report by Coindesk.

ISW Holdings Inc. (OTC: ISWH), transitioning to “BlockQuarry,” pending name change, announced breaking news earlier this month regarding, “the filing of the Company’s financial performance data for the Three and Nine Months ended September 30, 2021.

Financial Highlights for Three and Nine Months Ended September 30, 2021

• Revenues from operations for the Three Months ended Sep 30 of $1.075 million (including deferred revenues), up 2,435% on year-over-year basis
• Net Revenues (excluding deferred revenues) for the Three Months ended Sep 30 grew 579% on year-over-year basis
• Net Revenues (excluding deferred revenues) for the Nine Months ended Sep 30 grew 185% on year-over-year basis
• Net Cash increased by over 3,100% year to date to over $2.8 million
• Total Assets increased 5,263% year to date to $9.56 million
• Total liabilities decreased 73%, and total derivative liabilities decreased 98% to under $340k

Operational Highlights for Three Months Ended September 30, 2021

• Exceeded internal expectations for cryptocurrency performance in first quarter of significant mining operations
• Triggered Performance bonus clause for additional $1.7 million in Bitmain Miners from Minerset
• Continued to eliminate dilution risk through aggressive reduction in convertible notes outstanding
• Reached nearly $10 million in total assets
• Neared completion of Phase 1 (build-out and deployment of first 20 MW) of Southeastern U.S. project to pair 56,000 mining rigs with 200 MW of power

The three months ended September 30 exceeded management expectations for growth in the Company’s assets due to positive gains from mining operations as well as greater than anticipated expansion in equipment.

This was primarily due to the triggering of a performance incentive clause in the Company’s agreement with Minerset, LLC that granted the Company an additional 150 Bitmain S19 95TH/s state-of-the-art miners carrying a market value of approximately $1.7 million.

‘Q3 was a landmark quarter in Company history,’ remarked Alonzo Pierce, President and Chairman of ISW Holdings. ‘We switched on our mining fleet and saw our first substantial mining and hosting revenues hit the books. We also broke ground on our massive cryptocurrency hosting infrastructure and nearly finished the phase 1 build-out to deploy the first 20 MW to on-site Pods. In the process, we have seen a huge growth in the tangible value of the Company, as assets grew considerably while we continued our campaign to stamp out dilution risk through elimination of toxic notes and strict adherence to financing through a combination of cash from operations and non-toxic funding sources. As a result, we were in the best overall shape in our history coming into Q4, which is set to deliver on a much larger scale into year end.'”

BIT Mining Limited (NYSE: BTCM) announced earlier in September that it has entered into a Membership Interest Purchase Agreement and certain other auxiliary agreements (the “Agreements”) with Viking Data Centers, LLC (“Viking Data Centers”) to jointly invest in the development of a cryptocurrency mining data center space in Ohio (the “Ohio Mining Site”) with access to power capacity of up to 85 megawatts (“MW”). Development of the Ohio Mining Site is currently expected to be fully completed in February 2022. As part of its growth strategy, BIT Mining has been executing a robust plan to invest in, acquire and develop high-quality mining resources around the world. The Company has shipped 1,016 mining machines to the United States as of the date of this press release. Going forward, the Company plans to further strengthen its expansion efforts and accelerate its global development.

HIVE Blockchain Technologies Ltd. (NASDAQ: HIVE) announced last month the purchase of 6,500 next generation Bitcoin miners. These new machines have an aggregate hash power of 585 Petahash per second (PH/s). The integration of these miners into HIVE’s systems will be made in tranches over the next 130 days. They will be placed in existing facilities, and in our newly constructed data centres at our campus in New Brunswick, Canada. Frank Holmes, Executive Chairman of HIVE stated “We are pleased to be building on our strategic alliances with leading ASIC manufacturer Canaan to achieve our goals and drive value for our shareholders, with executing on a transaction that increases our cash flow and green mining capacity. Frank continued, “HIVE currently has approximately 1.2 Exahash per second (EH/s) of Bitcoin mining capacity, and with this new purchase, HIVE’s Bitcoin ASIC pipeline will be at 2 EH/s by December 2021, and 3 EH/s by March 2022. In addition to this, we are expanding our current active Ethereum mining capacity from approximately 4,000 Gigahash per second (GH/s), to 6,000 GH/s in new facilities in Sweden.”

SOS Limited (NYSE: SOS) reported back in June that it has entered into a joint venture agreement with Niagara Development LLC (“Niagara Development”), a New Jersey limited liability company, for a joint venture to be based in Niagara, Wisconsin. The joint venture, FD LLC, is expected to carry out crypto-currency mining operations and construct an international standardized Digital Super Computing Custody Operation Center. Under terms of the agreement, Niagara Development will be responsible for providing up to 150MW of electricity, including electricity generated from renewable sources, and construction the Digital Super Computing Custody Operation Center. SOS will be responsible for the management, operations and financing of the joint venture. SOS remains committed to its block-chain strategy and strive to become a sustainability leader in the industry.

Ebang International Holdings Inc. (NASDAQ: EBON) announced earlier this year that the Company has completed the designing of a chip for simultaneous Litecoin (LTC) and Dogecoin (Doge) mining as an addition to our current portfolio of cryptocurrency mining chip designs. The Company believes the new design will allow the Company to construct high performance cryptocurrency mining machines superior to other mining machines currently on the market. Mr. Dong Hu, Chairman and CEO of the Company, commented, “The completion of the designing is a credit to our increased investment in R&D in recent years. We have made tremendous efforts to build up our R&D team and accelerate product iteration and innovation. In the future, we will focus on developing more mainstream cryptocurrency mining machines, and we are considering designing more mining chips compatible with multiple cryptocurrencies. We believe it will help increase our revenue from the cryptocurrency mining business and optimize our product offering structure along the blockchain industry value chain.”

Subscribe Now! Watch us report LIVE http://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: http://twitter.com/financialbuzz

Follow and talk to us on Instagram: http://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: http://www.facebook.com/Financialbuzz/

About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the ‘Site’) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For isw holdings inc. video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com has been compensated four thousand dollars by meridian ventures. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.

Media Contact:
info@financialbuzz.com
+1-877-601-1879
www.FinancialBuzz.com

View original content:http://www.prnewswire.com/news-releases/investors-flock-to-crypto-in-an-effort-to-buttress-portfolios-against-inflation-301424962.html

SOURCE FinancialBuzz.com