FN Media Group Presents USA News Group News Commentary
Vancouver, BC – December 8, 2021 – USA News Group – In a small Texas town of only 5,600 people, a territorial battle is being waged over what is likely set to be the Bitcoin (BTC) mining capital of the world. The combatants are none other than Bitdeer (a spin-off of Chinese bitcoin mining giant Bitmain), and Riot Blockchain, Inc. (NASDAQ:RIOT), both jostling over market share and positioning within an area of cheap electricity, in a building formerly occupied by Alcoa. Ever since China put a halt to crypto activities within its borders, focus is being given to operations in North America, making the US now the official top destination for miners, including Dogecoin (DOGE) miner and livestreaming platform Hello Pal International Inc. (CSE:HP) (OTCQB:HLLPF), as well as BTC miners BIT Digital (NASDAQ:BTBT), Bitfarms (NASDAQ:BITF), and Greenidge Generation Holdings Inc. (NASDAQ:GREE).
Headquartered in Vancouver, Canada, Hello Pal International Inc. (CSE:HP) (OTCQB:HLLPF) recently announced the relocation of its crypto mining rigs to North America. The move came after strategic search for secure new locations for their newly acquired ASIC miners.
Hello Pal is set to re-house their Bitmain Antminer L7 Machines which are ranked among the Top 5 most profitable miners and are the most profitable DOGE miner on available.
“We expect that the relocation of our mining operations to North America will set us up for long term stability in our crypto-mining operations,” said KL Wong, Founder and Chairman of Hello Pal. “In turn, this will provide us a solid base to execute our plans of integrating crypto into our social networking core business.”
A thorough review of optimal global mining locations led Hello Pal and their partners Shanghai Yitang Data to decide upon moving most of their rigs in New York State, where all locations are set to use clean renewable energy (hydro-powered).
Each of the new mining rigs will be shipped directly to the NY facilities by Bitmain, which is expected to be in November and/or December this year. Hello Pal is also continuing to sell its existing Antminer L3+ mining rigs in China and using the proceeds to purchase brand new Antminer L7 models, which will be housed in North America.
The announcement came within a week of Hello Pal announcing record quarterly revenues, the majority of which came from cryptocurrency mining.
“We are very pleased to see the progress we have made as a Company, and believe that the results are evident in the financial figures,” said Wong. “We are particularly excited in the continued internationalization of our business, as reflected in our expansion of livestreaming services outside China and the integration of cryptocurrency into our platform through our newly launched crypto-mining operations.”
Meanwhile, down in Texas at its Whinstone Facility, Riot Blockchain, Inc. (NASDAQ:RIOT) recently announced its October 2021 production of 464 BTC—an ~433% increase over its 87 BTC production in October 2020.
So far in 2021, Riot has stated its year-to-date production total being 2,921 BTC—representing an increase of approximately 257% over its BTC production during the same period in 2020 which yielded 818 BTC.
The miner recently completed a $54 million purchase order with Bitmain (the same company that spun out its neighbors Bitdeer) for 9,000 S19j Pro (100 TH/s) miners, that are expected to be delivered May 2022 through October 2022. Shipments of 11,500 S19J Pro Antminers under previous purchase orders are also expected to be shipped to Riot’s Whinstone facility in November 2021.
Also awaiting new miners is BIT Digital (NASDAQ:BTBT), which in October announced an agreement to buy 10,000 machines from Bitmain. The announced purchases are expected to increase Bit Digital’s miner fleet hash rate by over 1.0 Exahash (“EH/s”).
“By contracting for these Bitmain units, we have opened a new channel in our procurement strategy, diversifying our access to miners,” said Bryan Bullett, CEO of Bit Digital. “While we believe we continue to enjoy differentiated access to the miner spot market, and expect to continue our ongoing spot purchases, our deal with Bitmain is an efficient means to procure a large quantum of new miners on attractive terms. This is key, as we believe that scale is paramount in importance in the bitcoin mining business.”
There’s not only a race for machines, but also for power. Bitfarms (NASDAQ:BITF) recently announced the acquisition of 24 Megawatts (MW) of Hydro Power in Washington State, USA, and its entering into a memorandum of understanding (MOU) to expand that up to 99MW.
The announcement marks the first entry of Bitfarms into the United Statess, as the Ontario-based company plans to house approximately 6,200 Bitmain S19j Pro miners in the facility.
“The Washington farm meets all these criteria,” said Emiliano Grodzki, CEO of Bitfarms. “With this acquisition, we enter the United States and continue our global expansion to 10 farms in operation or under development in four countries. The initial 24 MW acquisition will increase our total mining capacity to 106 MW and boost our total hashrate as additional miners are installed.”
Not to be outdone in the race to make good business relations with Bitmain, Greenidge Generation Holdings Inc. (NASDAQ:GREE) recently announced a deal to be the initial global launch customer for the state-of-the-art ANTMINER S19 XP, which is said to be approximately 27% more efficient than any BTC mining technology currently available.
“We are excited to be chosen as a launch partner for this latest release from Bitmain,” said Greenidge’s CEO Jeff Kirt. “The ANTMINER S19 XP demonstrates a step-function increase in efficiency for our industry, and we are excited to deploy this next generation technology at one of our 100% carbon-neutral facilities.”
The ANTMINER S19 XP has 21.5 joules/TH of efficiency compared to Bitmain’s previous S19 Pro technology of 29.5 J/TH. The units will consume 27% less energy per terahash and will deliver 37% more computing power per kilowatt hour than current technology. The order is set to be delivered in Q3 2022, after which Greenidge intends to deploy them to a facility to be developed either in South Carolina or Texas.
For More Information please visit: https://usanewsgroup.com/2020/11/16/live-streaming-is-taking-the-market-by-storm/
USA News Group
Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Hello Pal International Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares of Hello Pal International Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Hello Pal International Inc. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Hello Pal International Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles.
While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
USA News Group is Source of all content listed above. FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with USA News Group or any company mentioned herein. The commentary, views and opinions expressed in this release by USA News Group are solely those of USA News Group and are not shared by and do not reflect in any manner the views or opinions of FNM. FNM is not liable for any investment decisions by its readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM was not compensated by any public company mentioned herein to disseminate this press release.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the 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 made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating 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 FNM undertakes no obligation to update such statements.
Media Contact Information:
FN Media Group, LLC
Media Contact e-mail:
U.S. Phone: +1(954)345-0611
SOURCE USA News Group
The post The US is Now the World’s Cryptocurrency Mining Capital and Even Risk-Averse Investors Want In appeared first on Financial News Media.