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Crypto Corner Podcast 721: Stocks discussed: (NYSE: SQ) (NasdaqCM: HIVE) (TSXV: BNXA) – InvestorIdeas.com

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Point Roberts, WA and Delta, BC – November 22, 2021 (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.
Listen to today’s Crypto Corner Podcast:
https://www.investorideas.com/Audio/Podcasts/2021/112221-CryptoMarket.mp3
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Jack Dorsey, CEO of Square, Inc. (NYSE:SQ), released a white paper for Square’s decentralized Bitcoin (BTC) exchange called “tbDEX”. An excerpt from the paper’s abstract explains:
…The tbDEX protocol facilitates decentralized networks of exchange between assets by providing a framework for establishing social trust, utilizing decentralized identity (DID) and verifiable credentials (VCs) to establish the provenance of identity in the real world. The protocol has no opinion on anonymity as a feature or consequence of transactions. Instead, it allows willing counterparties to negotiate and establish the minimum information acceptable for the exchange. Moreover, it provides the infrastructure necessary to create a ubiquity of on-ramps and off-ramps directly between the fiat and crypto financial systems without the need for centralized intermediaries and trust brokers. This makes crypto assets and decentralized financial services more accessible to everyone.
HIVE Blockchain Technologies Ltd. (NasdaqCM:HIVE) has reported its production figures from its global Bitcoin and Ethereum (ETH) mining operations for the month of October 2021. Highlights include a revenue of $23.4 million USD, the production of 234 BTC, and the production of 2,591 ETH. The company’s Executive Chairman, Frank Holmes, said:
“We are proud of the growth and operational excellence exhibited from our global operations, which has HIVE generating US$280M in annual revenue on a run-rate basis using October figures, or approximately C$350M.”
Banxa Holdings Inc. (TSXV:BNXA) has announced a partnership with crypto mining and trading firm NiceHash, in which it will provide crypto Buy/Sell functionality for NiceHash users. A leader in the decentralized mining space, NiceHash is described as “an EU based marketplace for hash power allowing small and individual miners from around the world to rent out their computational capacities,” and boasts over 1 million daily users. Banxa CEO, Holger Arians, said:
“It is a pleasure to welcome NiceHash to the Banxa Network. As a leader in the field of pool mining, NiceHash allows mass market entry into cryptocurrencies, similar to the way Banxa does. As we expand our products and services to new markets such as mining, wallets and DeFi, it is our commitment to bring the highest conversions to our partners that drives that growth. We are proud that one of our first mining clients is such a well known brand.”
Sam Mowers, Investorideas
For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory
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Crypto Podcast: Potential BTC Price Bounce and NFT Theft – Coindesk

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Crypto Podcast: Potential BTC Price Bounce and NFT Theft  Coindesk
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Crypto Airdrop: What's an Airdrop and Why Crypto Airdrops Are Issued – Coindesk

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Foundry launches a BTC mining rig marketplace with over 40k units – Techstory

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The Bitcoin mining industry is booming as the overall network hashrate continues to increase. This has been used as a good opportunity by Foundry to launch a BTC mining rig marketplace. The mining rig marketplace is called the Foundryx and has over 40,000 mining units for resale. They also have their own mining setups, which contribute 16.8% to the total BTC hash rate. This also makes them the largest miner as per hash rate, followed closely by AntPool.
The company has been making money by employing the mining rigs themselves and selling them as well. This makes it really profitable for them. In August 2020, the digital currency group invested $100 million in the company. Foundry was just a year old when this investment was made, and they have been working in the BTC mining industry ever since. Their new marketplace is also a step in the right direction as it offers much-needed rigs in the market,
Foundry USA launches BTC mining rig marketplace
The company is already the largest individual contributor of the BTC hash rate with 29.83 EH/s. And now, they are planning to use the company’s robust shipping and logistic units to reach customers who purchase from their new mining unit marketplace. I think their profits are going off the charts with this new business idea.
One very important thing to note here is that the BTC mining rig marketplace has units for resale. This means it doesn’t sell new devices. The mining rigs have been used before and hence will be available for cheaper rates. Additionally, the current supply chain issues and chip shortages have increased the demand for used rigs. Currently, there aren’t many used rigs resellers in the market that can be trusted properly, but with Foundryx, the trust factor is there. This is why they are planning to become a properly trusted secondary marketplace of BTC mining rigs. It is also important to note that Foundry has also been launching staking services on 20 different networks, which will be yet another important business for them.
What are your thoughts on Foundry USA launching a used BTC mining rig marketplace? And do you think it will take off due to the current shortage of chips and rigs supply? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Metaverse will be a multitrillion dollar market, says Cathie Wood.
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I am a geek trying to make an audience for his awesome content. With laser eyes, I believe that Bitcoin is going to $100k very soon. HODL! Follow me on Twitter for more updates.

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