Vancouver, Kelowna, Delta, BC – February 10, 2022 (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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Crypto Corner Podcast 772: Stocks discussed: (NasdaqCM: CLSK) (NasdaqGS: EBON) (CSE: BIGG)
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Stocks discussed: (NasdaqCM:CLSK) (NasdaqGS:EBON) (CSE:BIGG)
CleanSpark, Inc. (NasdaqCM:CLSK) has shared its financial results for the three months ended December 31, 2021 (Q1 of FY2022). Highlights include quarterly revenues of $41.2 million and a net income of $14.5 million. The company’s Chief Financial Officer, Gary A. Vecchiarelli, said:
“Our strong financial results are evidence of the operating leverage of our business model. Gross margins remain high at almost 80%, and much of that profitability translates to the bottom line as we saw $14.5m of net income and $24.1m of Adjusted EBITDA, which represents net margins of approximately 35% and 58%, respectively. CleanSpark also has zero long-term debt, and we will be looking to use our strong balance sheet and operating cash flows as a springboard for future growth expansion.”
Ebonex Australia, a wholly-owned subsidiary of Ebang International Holdings Inc. (NasdaqGS:EBON), has announced that it has received registration approval from Australian Transaction Reports and Analysis Centre (AUSTRAC) as a digital currency exchange as of December 3, 2021. Dong Hu, Ebang’s Chairman and CEO, commented:
“We consider Australia a major financial hub and recognize its significant influence in the global market; therefore, receiving the DCE approval is of great importance to us. Our cryptocurrency exchange project team, which consists of senior industry technical experts, has been developing and testing the cryptocurrency exchange tirelessly, and we anticipate that the exchange will be introduced to the market in the near future. We are confident that the DCE approval will add substantial value to our business growth and believe this latest approval is the most recent milestone in the Company’s transformation into a diversified and vertically integrated blockchain company with comprehensive involvement in the value chain of the blockchain industry. We will continue leveraging our technological strengths to contribute to the development of the cryptocurrency exchange business.”
BIGG Digital Assets Inc. (CSE:BIGG) has made a strategic investment of $9.8 million CAD in TerraZero Technologies Inc. for 14 million common shares and 2 million warrants, making for a total investment of $10 million in the latter. According to the press release, TerraZero aims “to Develop, Acquire, and Finance the Metaverse’s most promising companies, entrepreneurs, and developers.” Dan Reitzik, TerraZero’s CEO, explained:
“We are thrilled to welcome BIGG as a major shareholder in TerraZero. Mr. Binns and his team support our vision, and with their investment, we can accelerate the launch of our proprietary technologies, and continue the growth of our studio business supporting clients including Atlantic Records, a Fortune 500 beverage brand, and other global brands in their quest to enter the Metaverse economy in a meaningful way. All land, buildings, storefronts, wearables, and just about everything in the Metaverse, is secured as a digital asset NFT on a blockchain. As such the Metaverse is a natural expansion for BIGG Digital Assets.”
Sam Mowers, Investorideas
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