Vancouver, Kelowna, Delta, BC – March 22, 2023 (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.
Today’s podcast is sponsored by Fintech Company AppTech Payments Corp. (NasdaqCM:APCX).
The Investor ideas Crypto Corner was named one of 14 Best Crypto & Blockchain Podcasts for Jun 2022: https://www.yoreoyster.com/blog/best-crypto-podcasts/
Listen to today’s Crypto Corner Podcast:
Crypto Corner Podcast: Cryptocurrency Stocks in the News: (NasdaqGM: BITF) (NasdaqGM: SDIG)
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Stocks discussed: (NasdaqGM:BITF) (NasdaqGM:SDIG)
Alex Adelman, CEO & Co-founder of Bitcoin (BTC) rewards app Lolli, has provided the following commentary to Investorideas.com regarding Bitcoin’s status as an alternative to traditional finance.
“Bitcoin is continuing to gain momentum amid the banking crisis, showing that investors are recognizing bitcoin as a secure store of value and a stable alternative to traditional finance.
The banking crisis has highlighted the fragility of centralized finance in contrast to bitcoin, which has done exactly what it was created to do for over a decade on a completely trustless, transparent basis. Bitcoin was created precisely for moments like this, when the traditional banking system fails, highlighting the need for an asset that is completely independent of centralized finance and banking.
The announcement of a $300 billion injection into the economy to save cash-strapped banks has also driven bitcoin’s price up. The intervention, which is widely being called a bailout, highlights that the traditional banking system is showing cracks. Many investors are now acting with the belief that the Fed won’t hike interest rates with banks under duress, driving increased market confidence which has historically fueled increased demand for bitcoin.
As the crisis continues to unfold, we will see a growing number of people reconsider their money and shift their capital to bitcoin as a superior, secure alternative to traditional finance.”
For more on Lolli, visit their website at https://www.lolli.com/.
Bitfarms Ltd. (NasdaqGM:BITF) has posted its financial results for the fourth quarter and year ended December 31, 2022. Some highlights include the mining of 1,434 BTC in Q4 (5,167 BTC in 2022), a net loss of $17 million USD and a total revenue of $27 million for the quarter. The company’s President and CEO, Geoff Morphy, commented:
“Our high operating efficiencies and low-cost power contracts yielded an average direct cost of production of $10,000 per BTC*** in 2022. Even during an especially challenging BTC pricing environment in Q4 2022, we continued to generate positive cash flow from operations and posted $1 million in Adjusted EBITDA as we maintained total cash cost of production per BTC less than the average price of BTC for the quarter.”
Stronghold Digital Mining, Inc. (NasdaqGM:SDIG) has posted its Q4 2022 operations and financial update. Highlights include an estimated $23 million of revenue, and a net loss of $48 million. The quarter’s revenue, according to the press release, “comprised an estimated $14 million from the sale of energy, an estimated $8 million from cryptocurrency mining, and an estimated $1 million from capacity sales during the quarter.”
Sam Mowers, Investorideas
For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory
AppTech Payments Corp. (NasdaqCM:APCX) is an innovative Fintech company whose mission is to deliver a better way for businesses to provide their customers with immersive commerce experiences. Commerse(TM), its all-new, patent-backed technology platform powering seamless omni-channel Commerce Experiences-as-a-Service (CXS), drives highly secure, scalable, cross-border digital banking, text-to-pay, crypto payments and merchant services altogether from a single, unified stack designed to increase operational efficiencies and growth for businesses while providing the economic convenience that their customers demand from today’s commerce experiences. For more information, visit apptechcorp.com.
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