21st Century Gold: Cryptocurrency Miners Still Accelerating to Record Highs



The cryptocurrency bull market appears alive and well, with Bitcoin above $33,800. All thanks to increased interest from institutional and retail investors. In addition, according to Reuters, the cryptocurrency is being “buoyed by demand from larger investors attracted to its potential for quick gains, purported resistance to inflation and expectations it will become a mainstream payment method.” Plus, analysts are bullish on Bitcoin, as well. Citibank for example says Bitcoin could see $318,000 BTC by December 2021, referring to it as “21st century gold,” as noted by Forbes. Guggenheim is calling for a valuation of $400,000. JP Morgan says it could rally should global pension funds invest, too. That’s big news for cryptocurrency investors and mining-related companies like Datametrex AI Limited (TSXV:DM)(OTC:DTMXF), PayPal Holdings Inc. (NASDAQ:PYPL), Riot Blockchain Inc. (NASDAQ:RIOT), Marathon Patent Group (NASDAQ:MARA), and Bit Digital Inc. (NASDAQ:BTBT).

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Datametrex AI Limited (TSXV:DM)(OTC:DTMXF) BREAKING NEWS: Datametrex AI Limited  is pleased to announce that its wholly owned subsidiary, Ronin Blockchain Corp., a cryptocurrency mining platform, will be revisited by the Company with a view to evaluate various strategic options for the purpose of reactivating the cryptocurrency mining platform to maximize value for the shareholders of the Company. This may also include a share dividend, a plan of arrangement, and other such methods.

As part of this strategic review process, Datametrex board and management will collectively review all aspects Ronin to create a strategic plan for the business unit in light of the favourable market conditions which exist for bitcoin and cryptocurrency. Bitcoin has had an unprecedented run up in value in last three months from below USD$10,000 to over USD$40,000.

According to Forbes, a leaked CitiFX report from US banking giant Citibank executive and senior analyst Tom Fitzpatrick has revealed bitcoin could potentially hit a high of $318,000 by December 2021, calling it “21st century gold.” The report was first leaked to the cryptocurrency community by Twitter user “ClassicMacro” in a tweet on November 16, 2020, noting Fitzpatrick is “a big fan of moon targets.”

“Will strong run up on Bitcoin it would prudent for the company and a benefit with our shareholders to complete a full review of Ronin.” said Marshall Gunter, CEO of Datametrex. “Many people within the cryptocurrency space have noted many institutional investors say crypto may be in the middle of an unthinkable rally.”

Cryptocurrency mining includes the usage of an advanced technological platform in order to mine the world’s leading cryptocurrencies at maximum speed and efficiency, enabling cryptocurrency market to generate profits from mining operation.

Other related developments from around the markets include:

PayPal Holdings Inc. (NASDAQ:PYPL) announced that check-cashing fees associated with the PayPal cash-a-check feature are being waived for government stimulus paper check recipients, enabling more customers to access their funds usually within minutes, from the safety of their own home, free of charge. Additionally, those customers who used the PayPal or Venmo Direct Deposit feature to receive a stimulus payment in the first round of stimulus payments earlier in 2020 will automatically receive their payment directly through PayPal or Venmo again, if they’re eligible for a second payment. The IRS has advised that the original Direct Deposit details on file will again be utilized to issue this round of stimulus payments.  

Riot Blockchain Inc. (NASDAQ:RIOT) announces an expected 65% increase in bitcoin mining hash rate capacity resulting from the purchase and future deployment of 15,000 S19 Pro and S19j Pro Antminers from Bitmain Technologies Limited. The approximate $35 million purchase is comprised of 3,000 S19 Pro Antminers (110 TH) and 12,000 S19j Pro Antminers (100 TH). These additional miners are scheduled for receipt and deployment starting in May 2021 and continuing through October 2021. This new order of miners, combined with the Company’s prior miner purchases, is expected to significantly increase Riot’s estimated bitcoin mining hash rate from the previously announced 2.3 EH/s to 3.8 EH/s.   The Company has been receiving and deploying new miners consistently through 2020, including this new purchase; the delivery schedule continues into the fourth quarter of 2021.

Marathon Patent Group (NASDAQ:MARA) and DMG Blockchain Solutions Inc. have entered into a non-binding memorandum of understanding to form Digital Currency Miners of North America (“DCMNA”), which will be a U.S.-based non-profit entity whose mission is to create a better mining environment for North American miners, to help improve their financial performance, and to create North America’s first cooperative mining pool. Marathon Patent Group and DMG’s U.S. subsidiary, Blockseer, are working together to establish DCMNA, a non-profit entity focused on North American digital currency opportunities, including decentralizing the Bitcoin hashrate and providing more transparency for North American miners. DCMNA’s principal initiative is to create North America’s first cooperative mining pool by licensing Blockseer’s mining pool to all DCMNA members in a cooperative structure. Mining partners who are members will receive rebates based on the hash rate they contribute to the overall pool, thus improving the mining profitability of DCMNA members.

Bit Digital Inc. (NASDAQ:BTBT), an emerging bitcoin mining company headquartered in New York, U.S. announced that it had entered into an $80 million private equity line facility with the same institutional investor which had executed a Securities Purchase Agreement on December 31, 2020, to purchase $1,650,000 of convertible subordinated bridge notes (the “Investor”).  The bridge notes shall be repaid or automatically converted into the Company’s ordinary shares prior to commencement of sales under the equity line purchase agreement. The Company will have the right in its sole discretion, to sell up to $80 million of ordinary shares (subject to certain limitations) to the Investor, which has no right to require the Company to sell any shares, following the effectiveness of a registration statement with the Securities and Exchange Commission registering ordinary shares issuable pursuant to the equity line purchase agreement and other customary closing conditions. The purchase price for the ordinary shares will be issued at a discount and derived from prevailing market prices of the Company’s ordinary shares.

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Datametrex AI Limited by a third party. We own ZERO shares of Datametrex AI Limited. Please click here for full disclaimer.

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