OSTK - Crypto Corner Podcast 517

Point Roberts, WA and Delta, BC - January 28, 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.

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Stocks discussed: (OTC:SBHGF) (NYSE:SMFG) (NasdaqGS:OSTK) (TSXV:HIVE)

Bitcoin ( BTC ) is back above $30,000 this morning, having spent yesterday slowly climbing out of its recent downturn, according to data from CoinMarketCap . At press time, it is trading for about $32,000, up about 5.75 percent in the last 24 hours.

Nikkei Asia reports that SBI Holdings, Inc. ( OTC:SBHGF ) and Sumitomo Mitsui Financial Group ( NYSE:SMFG ) plan to launch a digitalized stock exchange in Osaka in the spring of 2022 to compete against the Tokyo Stock Exchange. According to the article, "the joint venture also aims to be the first Japanese exchange to handle digital securities using blockchain technology."

tZero, the blockchain arm of Overstock ( NasdaqGS:OSTK ), has announced a partnership with Prime Trust, the latter of which is described in the press release as a "leading provider of all-in-one, financial infrastructure for fintech innovators." tZERO CEO Saum Noursalehi explained:

"Digital infrastructure isn't just another settlement or payment system - it represents an evolution in how we will issue, record, transfer and settle value seamlessly across markets and geographies by leveraging technology that is superior to the legacy systems and infrastructure in place today. The initiatives announced today affirm our commitment to remain agile and swiftly adapt to regulatory and technological developments in order to foster a robust and dynamic marketplace."

HIVE Blockchain Technologies Ltd. ( TSXV:HIVE ) has announced plans to expand the footprint of its Sweden GPU mining data centre by an immediate 2 MW at an estimated cost of $9 million, by the end of April 2021. An excerpt from the press release reads:

"By the end of 2021 we are planning a 30% increase in our Ethereum mining capacity. The immediate expansion of the operating footprint would be accomplished through an infrastructure re-fitting of a portion of its existing facility in Boden, Sweden at an estimated cost of US$ 250,000 and the purchase of new generation GPU chips and associated mining rigs to house them at an estimated cost of US$ 8.75 million. These new generation chips are expected to be more efficient than currently available GPU chips on the market while consuming less electricity, which should lead to continuing positive gross margins."

Sam Mowers, Investorideas

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