BIT Mining Ltd (BTCM)

[Monksdream]

BTCM the leader today among the crypto miners
https://www.barchart.com/stocks/performance/percent-change/advances?timeFrame=today&viewName=main&screener=overall&orderBy=percentChange&orderDir=desc

[TimeFades]

Rippin

[Invest-in-America]

BTCM: Opening fire!!! Who-would-a-thunk-it??? (I'm checking its CHART now; see me below!!)

[TheFinalCD]

BTCM RS DEC-23 https://finance.yahoo.com/news/bit-mining-limited-announces-plan-213000291.html

[heyitsmeagain]

Squeeze

[heyitsmeagain]

Squeeze

[willlbone]

Bitcoin mining is dead. Plus its China.

[apple1732]

https://www.cnbc.com/2021/12/06/miami-jury-rules-in-favor-of-craig-wright-bitcoin-claimed-inventor.html

[Gwinner]

Anyone know when earnings will be coming out?

[Farmboynate]

start going after the people behind it not hard to track where fake shares and shorts come from they get reported but the sec does nothing.. https://twitter.com/InvestorsLive was one that started a short attack on btcm about 3 weeks ago telling 180K followers to short it then you get the naked shorts that join in

[Gwinner]

So how do they (SEC) or (BTCM) prevent Naked Shorting from happening?

[BottomBounce]

$BTCM and IDEX only Blockchain plays I know

[Farmboynate]

Where have you been all these years?? FTD= naked shorts you can look up past FTDS and see its been going on here

https://fintel.io/sftd/us/btcm

I've noticed EDGX has been heavily selling but they aren't heavily buying back and can look up that they are the ones that are behind the short selling/naked short selling it appears

[Gwinner]

I don't think you can naked short on the NYSE
My guess is china shut the switch off on over 400MW's of machines and they are just now getting back online.

My guess 20+ by December once Mr market realizes these machines are cranking cash

[Farmboynate]

naked shorts killing this, it should be at 20-30$ but stuck 9-10$

[oxnous]

BTCM needs to report quarter to quarter revenue growth that validates their business plan is working.
It is one thing to buy crypto mining machines--and another to operate in a low cost-high margin environment.

[Farmboynate]

this has to be the biggest pos heavily manipulated/shorted crypto mining stock on the planet starting to think the Chinese are Naked short selling this pos

[Trader9999]

Whats weird is China has been banning crypto since 2013

[oxnous]

All the crypto miner are suffering from the China Syndrome today.

[Gwinner]

Thank you China for better buying entry!!
Can't Stifel technology to your people when the rest of the world is on board

[Gwinner]

Once this site and the other deployments get on line this year the 1st qrt revenues will be huge!!!

[Gwinner]

BTCM - Putting there MONEY to work!!!!!!!
China kicks BTCM out and America takes them in and making money!
Love it!

[BoilerRoom]

All in on GEVO no funds for other stocks

[Chartmaster]

BTCM looking like real easy money right here imo!

[ezyE]

What happened?

[Chartmaster]

Bitcoin $51.7K, glad I bought Dec 7.5 calls here on $BTCM

[BoilerRoom]

$BTCM ready to make some money

[Chartmaster]

Bought the Dec 7.5 calls at 3.88!

[BoilerRoom]

Coming from a man that has been there:

https://vm.tiktok.com/ZMRD26F6A/

[TheFinalCD]

finshizzle has 10% SF https://finviz.com/quote.ashx?t=BTCM

[makinezmoney]

$BTCM: 110% SHORT INTEREST


That'll do it



GO $BTCM

[makinezmoney]

$BTCM: Sudden jump now to $13.80


Who sneezed

GO $BTCM

[Jake L]

BTCM - These Stocks Are Next Up

[Jake L]

BTCM - Wednesday Rundown, Tuesday Expectations

[Jake L]

BTCM - Monday Rundown, Tuesday Expectations

[Dubster watching]

Happy guy over here. Green looks good on this.

[Dubster watching]

Oh yea!

[Warrens]

All loaded up

[Warrens]

Any guess on what the total hash rate with current and new miners will be?

[JohnCM]

CHINA =

DIDI
KWEB

[Warrens]

See what happens tomorrow

[Dubster watching]

BIT Mining to Buy 2,500 New Bitcoin Mining Machines for $6.6 Million
BY MT NEWSWIRES — 59 MINUTES

[Dubster watching]

Up a little today.
I have quite a way to go to get green.

[JohnCM]

Looks like $BTCM has totally transformed its share ownership structure at a base price of $5.00 per share with that $50 million private placement for 100M shares.

As I understand it the new structure will be approximately 243 million shares once all the warrants are exercised.

"... Under the terms of the private placement, the Company will issue 100,000,000 Class A ordinary shares, and warrants to purchase up to an additional 100,000,000 Class A ordinary shares to the Investors, at a purchase price of US$5.00 per ten Class A ordinary shares, with one warrant included in the price of each Class A ordinary share. ..."

https://finance.yahoo.com/news/bit-mining-announces-us-50-130200191.html

But they have saved their company by moving their mining operations outside of China, building new data centers outside of China and expanding non-China based infrastructure.

[mdimport]

Looks like $BTCM has totally transformed its share ownership structure at a base price of $0.50 per share with that $50 million private placement for 100M shares.

As I understand it the new structure will be approximately 243 million shares once all the warrants are exercised.

"... Under the terms of the private placement, the Company will issue 100,000,000 Class A ordinary shares, and warrants to purchase up to an additional 100,000,000 Class A ordinary shares to the Investors, at a purchase price of US$5.00 per ten Class A ordinary shares, with one warrant included in the price of each Class A ordinary share. ..."

https://finance.yahoo.com/news/bit-mining-announces-us-50-130200191.html

But they have saved their company by moving their mining operations outside of China, building new data centers outside of China and expanding non-China based infrastructure.

[JohnCM]

Folks did not care for the equity raise. They acted quickly on leaving China. Good move.

China's government is in full paranoia mode.

[Dubster watching]

I have been loading this.
Not sure about the future of it but have a feeling that these are the right prices.

[JohnCM]

Bitcoin mining is now easier and more profitable as algorithm adjusts after China crackdown

JUL 3 2021
MacKenzie Sigalos
CNBC

KEY POINTS

More than 54% of bitcoin’s hashrate, which is the collective computing power of miners worldwide, has dropped off the network since its market peak in May.

The bitcoin code has re-calibrated to make it 28% less difficult to mine.

Miners who are still plugged into the network stand to make greater profits while most of the network’s miners remains offline.

It just became a whole lot easier and much more profitable to mine for bitcoin.

The world has known for months that more than half the world’s bitcoin miners would be going dark as China cracked down on mining. Now that it’s happened, the bitcoin algorithm has adjusted accordingly to make sure miner productivity doesn’t continue to fall off a cliff.

That adjustment – which took effect early Saturday morning – also means that way more cash is going to the bitcoin miners who remain online.

“This will be a revenue party for miners,” said bitcoin mining engineer Brandon Arvanaghi.

“They suddenly own a meaningfully larger piece of the pie, meaning they earn more bitcoin every day.”

[JohnCM]

Financial Institutions Ramp Up Activity in the Auspicious Cryptocurrency Sector

BY PR Newswire
06/30/2021

NEW YORK, June 30, 2021 /PRNewswire/ -- The cryptocurrency market constantly evolves as new technologies utilizing blockchain are introduced. As a result, major corporations and financial institutions are now more open minded about the potential of such currencies. For example, Morgan Stanley has purchased recently 28,289 shares of Grayscale Bitcoin Trust through its Europe Opportunity Fund, according to a U.S. Securities and Exchange Commission filing. Furthermore, a report by Coindesk indicates that Morgan Stanley has been increasingly active in the cryptocurrency space in recent months to meet growing demand from its clients. Overall, the banking and financial services application area is expected to hold the largest market size in the blockchain market. And, according to data provided by Markets and Markets, the global blockchain market size is expected to grow from USD 3.0 Billion in 2020 to USD 39.7 Billion by 2025, at an impressive CAGR of 67.3% during the forecast period of 2020–2025. ISW Holdings Inc. ( ISWH ) , BIT Mining Limited ( BTCM ) , Marathon Digital Holdings, Inc. ( MARA ) , Majic Wheels Corp. ( MJWL ) , HIVE Blockchain Technologies Ltd. (OTC: HVBTF)

Among the plethora of possibilities blockchain and cryptocurrency technology can offer, companies like Coinbase strive to prove the feasibility of investing in this market for the long run. Coindesk reported that Coinbase is rolling out a crypto savings account that lets you earn 4% annual percentage yield (APY). This is a significantly higher yield than what traditional savings accounts offer.

ISW Holdings Inc. ( ISWH ) (OTC: ISWH)
along with Bit5ive, LLC provided earlier last week, "an in-depth update on the Company's progress as it continues to expand and optimize its cryptocurrency mining operations.

'ISW Holdings ( ISWH ) operates as a diversified holdings company with a current market cap of approximately $25 million, driven largely by the Company's growing expertise in acquiring, launching, hosting and operating assets in the cryptocurrency and telehealth sectors,' noted ISW Holdings ( ISWH ) President and Chairman Alonzo Pierce. 'Our partnership with Bit5ive has provided us with a state-of-the-art POD5 infrastructure and the ability to develop efficient and expandable mining operations. We look forward to further expansion and optimization in this domain over the coming months.'

The Company currently operates its mining equipment adjacent to powerful and efficient energy resources in Kennerdell, Pennsylvania.

Pierce added, 'We continue to make huge progress, recently increasing our hashrate to 72,000 Th/s, driving an expected $484,000 in monthly revenue – or over $5.8 million annually – through the Bitmain Antminer s17 fleet we already have online and working. As we continue to maximize our hashrate, we should see a reduction in proportional direct costs associated with mining operations. Naturally, we continue to lean on Robert and Bit5ive for expertise and support in translating our investment in this process into growing value.'

Bit5ive is North America's largest provider of collective management services and mining equipment, along with ISWH, offering a turnkey solution for delivering cost-efficient and reliable hosting, distribution of mining equipment, complete facility management and mining pool operations in projects to be announced…"

BIT Mining Limited ( BTCM )
reported last month that it has entered into a binding investment term sheet (the "Term Sheet") with Dory Creek, LLC ("Dory Creek"), a wholly-owned subsidiary of Bitdeer, Inc. to invest in a cryptocurrency mining data center in Texas (the "Texas Mining Center"). Pursuant to the Term Sheet, the Company will invest a total amount of US$25.74 million and jointly construct and operate the Texas Mining Center with Dory Creek. The total power capacity of the Texas Mining Center is 57.2MW, with more than 85% of its power generated by clean and low-carbon energy. As the electricity supply is further optimized in Texas, the Texas Mining Center will use higher proportions of electricity generated by clean energy.

Marathon Digital Holdings, Inc. ( MARA )
announced earlier this month that it is set to join the Russell 2000® Index at the conclusion of the 2021 Russell indices' annual reconstitution, effective after the U.S. stock markets open on June 28, 2021. The stock will also be automatically added to the appropriate growth and value indexes. Membership in the Russell 2000 Index, which remains in place for one year, is based on membership in the broad-market Russell 3000® Index. Approximately $10.6 trillion in assets are benchmarked against Russell's U.S. indexes. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. "Being added to the Russell 2000® Index demonstrates the immense progress we have made transforming Marathon over the past year," said Fred Thiel, Marathon's CEO. "We expect our inclusion in the index to increase our visibility within the greater investment community, which will benefit both new and existing shareholders as we continue to build Marathon into one of the largest and most environmentally conscious Bitcoin miners in North America."

Majic Wheels Corp. ( MJWL ) (OTC: MJWL)
reported back in May that it has executed a binding letter of intent to acquire a USD 150M revenue producing cryptocurrency exchange and custody services platform: CGCX Ltd. "This is a unique assortment of value propositions that we are able to bring into the company. With the pending acquisition of CGCX, our company will bring a Digital Asset Platform that brings value from the diversified business model and security to the clients through insurance and infrastructure offering services such as Crypto Exchange, Digital Custody Services and Token Listing Platform under one-fold. CGCX has been operating successfully since 2018 and we could not be more excited with this pending merger," said David Chong, CEO and Director of Majic Wheels Corp. ( MJWL )

HIVE Blockchain Technologies Ltd. (HVBT)
reported yesterday that trading of the Company's common shares on the Nasdaq's Capital Markets Exchange ("Nasdaq") will begin on Thursday July 1, 2021, under the trading symbol " HVBT". HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy. We are listed on the TSX.V exchange and our shares will soon trade on the Nasdaq's Capital Markets Exchange.

[JohnCM]