Crypto Corner Podcast 884: Stocks discussed: (NasdaqGM: BITF) (NasdaqGS: APLD) (NYSEAmerican: NILE) - Transcripts
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Welcome to today's edition of crypto corner at investor ideas dot com. News on what's driving the Cryptocurrency market. Hey everyone, this is sam hours here. Welcome to episode 884 of the crypto corner podcast. Crypto Corner was recently named one of 14 of the best crypto Blockchain podcasts by the sight your oyster. That's Y O R E oyster. You can check out this list along with a write up about crypto corner over at your oyster dot com slash blog slash best dash crypto dash podcasts now for news today, bit farms has announced a hash rate milestone applied. Blockchain has broken ground and a new hosting facility in north Dakota and bit Nyle has provided some mining projections just before we get into the news today though, a quick reminder that if you enjoy this podcast to please feel free to share it or leave us a review And as always, I recommend checking out some of the other podcasts on investor ideas dot com. This includes the cannabis podcast, the clean tech and climate change podcast along with many others, all of which will bring you up to speed on the latest stock news and trends in their respective spaces. Read so bit farms LTD, which trades on the NASDAQ under the ticker B. I. T.
F has announced that its hash rate has exceeded the four exa hash per second milestone as it commenced production at the first of 2 50 megawatt warehouses under development in Argentina. The company boasts a total corporate capacity of 176 megawatts with the goal of getting the aforementioned 50 megawatts energized by december 31st this year, Jeff morphy, the president and C. E. O of bit farms said quote with attractive electricity pricing established last year under an eight year private party power contract. Both facilities are expected to lower overall energy costs for our portfolio despite rising commodity costs in the energy market. The initial production in our new farm in rio cuarto combined with refinements at some of our Quebec and Washington farms also pushed actual production past 4.1 X ash per second and quote moving along applied Blockchain, inc, which trades on the NASDAQ under the ticker A. P. L. D. Has announced the groundbreaking of its 180 megawatt hosting facility in Ellendale. North Dakota, which occurred on september 8th. This facility in Ellendale is the company's third next gen data center and the second one in North Dakota.
Applied block chains, Chairman and Ceo West cummins said, quote, the community of Ellendale and representatives of North Dakota have been amazing to work with as we bring this new facility to life having the new 180 megawatt facility located close to significant wind power capacity will allow it to be powered with renewable energy to further propel future high performance computing solutions for global enterprises and applications. The entire capacity of this facility is already under contract demonstrating the significant demand we continue to have for our hosting services. End quote. Lastly for today, Bit Nile Holdings inc which trades on the N. Y. S. C. American under the ticker N I L. E. Has shared projections on its expected Bitcoin mining production levels. According to the press release, the company expects to have 7500 miners and it's michigan data center in 6500 miners at the texas facility hosted by computer North L. L.
C. Installed by the end of september. Bit Nile then expects to increase its average daily mining production to around 4.7. Bitcoins per day by the end of september and 9.33 Bitcoin per day by the end of december This year, the firm's executive chairman, Milton Todd ault the third said quote as the market has experienced a crypto winter. Our investment in the michigan data center and our positive relationship with Bit main allow us to have confidence in our long term plans regarding Bitcoin mining. Our recent purchase of additional Bitcoin mining equipment demonstrates our belief in the long term outlook for Bitcoin. The plan to grow our Bitcoin mining operations is clear and it is rewarding to see the team continue to deliver on the goal of timely installation of new Bitcoin miners as they arrive at our michigan data center and the texas hosted facility. And quote that does it for today's crypto corner. If you would like to be a guest or sponsor for this podcast, contact investor ideas dot com investor ideas reminds all listeners to read our disclaimers and disclosures on the investor ideas dot com website and this podcast is not an endorsement to buy products, services or securities investors are reminded. All investment involves risk and possible loss of investment. To hear more investor ideas dot com podcasts please visit investor ideas dot com slash audio and a reminder. You can also hear our podcasts on apple podcasts, audible.
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