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Crypto Corner Podcast 674: Stocks discussed: (NasdaqGM: CAN) (TSXV: CSTR) (CSE: LNK)
Canaan Reports Q2 Financial Results, CryptoStar Expanding Hashrate and Power Capacity in Alberta, and Link Global Starts Approval Processes for 3 Sites
Point Roberts, WA and Delta, BC - September 15, 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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Crypto Corner Podcast 674: Stocks discussed: (NasdaqGM: CAN) (TSXV: CSTR) (CSE: LNK)
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Canaan Inc. (NasdaqGM:CAN ) has reported its unaudited financial results for the second quarter ended June 30, 2021. Highlights include 5.9 million Thash/s of total computing power sold - a 126.9 percent increase over the same period in 2020, and total net revenues of $167.5 million - the strongest quarterly sales in the firm's operating history. Nangeng Zhang, Chairman and CEO of Canaan, commented:
"Despite unexpected regulatory policy dynamics and Bitcoin price volatility, we achieved record-high topline results as we delivered a robust 5.9 million Thash/s of computing power to our clients. During the second quarter and recently, we also secured substantial preorders, thanks to the effective execution of our strategies, including business development in the overseas markets, institutional client relationship building, and strengthening our supply chain."
CryptoStar Corp. (TSXV:CSTR ) has announced that it is expanding its self-mining Hashrate and power capacity in Alberta, Canada. Highlights include the execution of Equipment Hosting Agreements for an aggregate mining capacity of 27 MW, expected to contribute up to $9.6 million in annual hosting and power revenues for the company, with hosting services in Alberta, Canada expected to start in Q4, 2021. CryptoStar's President and CEO, David Jellins, said:
"We are continuing to see unprecedented levels of demand for power and hosting services from international mining organizations, and we are looking forward to taking full advantage of our power supply agreement in Alberta, Canada at amongst the lowest power rates available in North America."
Link Global Technologies Inc. (CSE:LNK ) has started engineering, procurement and regulatory approvals for 30 MW for three sites in western Alberta, Canada. This will give Link and its partners "the capacity to operate over 9,000 machines, which will create a consistent revenue stream." The company's CEO, Stephen Jenkins, said:
"Being flexible and mobile allows us to relocate operations when deemed necessary, whether for technical, social, environmental or financial reasons. This is the case at present where three operations are expanding to five. With market conditions where they are, there is an opportunity to modify our infrastructure inventory so that we can take advantage of demand to improve cash flow and improve our financial model moving forward."
Sam Mowers, Investorideas
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