OSTK - Crypto Corner Podcast 580

Point Roberts, WA and Delta, BC - April 29, 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) (NasdaqGS:OSTK) (OTC:ARBKF) (TSXV:DMGI)

Cointelegraph reports that Japanese finance giant SBI Holdings, Inc. ( OTC:SBHGF ) "more than doubled the total profit of its cryptocurrency business during the fiscal year that ended in March." The company reports profits from crypto of 18.9 billion yen ($174 million), which is 10 billion yen ($92 million) higher than the previous fiscal year. The crypto division of the company includes its crypto trading platform VC Trade, a mining arm called SBI Crypto, and recently-acquired crypto trading platforms TaoTao and B2C2.

Overstock.com ( NasdaqGS:OSTK ) has reported its financial results for the first quarter ended March 31, 2021. Highlights include a net revenue of $660 million, up 94 percent year over year. Overstock CEO Jonathan Johnson commented:

"...our strategic partnership with Pelion Venture Partners for oversight of Medici Ventures' blockchain assets closed ahead of schedule and we believe it will provide the portfolio companies the opportunities they need to succeed. We have had another great quarter of profitable market share growth! We believe Overstock is well positioned to sustain this profitable path through 2021 and beyond. I look forward to providing a full update on our first quarter performance during our earnings call."

Argo Blockchain ( OTC:ARBKF ) has announced its audited results for the year ended 31 December 2020. Highlights include a revenue increase of 120 percent to £19 million ($26.5 million USD), and an 85 percent increase in bitcoins mined from 1,330 in 2019 to 2,465 in 2020. Argo's CEO, Peter Wall, commented:

"Argo crossed a major inflexion point in 2020 in its history by achieving full-year profitability on a 120% increase in revenue, our second consecutive year of triple-digit top-line growth. With a proven management team, world-class mining infrastructure, and strong tailwinds from the industry's recent growth, the Board looks forward to the future with great confidence."

DMG Blockchain Solutions Inc. ( TSXV:DMGI ) has entered into a securities purchase agreement for a private placement of its common shares and warrants to purchase common shares to institutional investors only for aggregate gross proceeds to the Company of approximately $28.1 million CAD. According to the press release, proceeds from the agreement "are expected to be used by the Company for infrastructure expansion and equipment purchases, investment in cryptocurrencies, potential future acquisitions and partnerships, software development, expansion of marketing and sales activities and working capital and general corporate purposes."

Sam Mowers, Investorideas

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