PALM BEACH, Florida, August 9, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Blockchain technology is severely disrupting data center infrastructure, especially in the avenue of Cryptocurrency. Investment firms are investing millions into the development and deployment of Blockchain technology to bolster data centers, as well as enhance mining operations. Digital currencies remain a hot topic in the markets and leaders in Cryptocurrency aim to leverage Blockchain to make it both more secure and accessible. Additionally, it enables leading miners to channel more computing power in order to more effectively manage mining efforts. When harnessed correctly, Blockchain could potentially provide immense benefits to Cryptocurrency miners and raise revenues in the already multi-billion dollar space. One trend in the market is acceptance of cryptocurrency by retailers. The rising trend of acceptance of cryptocurrency by retailers is one of the key factors driving the growth of the cryptocurrency mining hardware market. Large retailers are steadily adopting cryptocurrencies such as Bitcoin and Ether for carrying out their financial transactions. Active tech companies in the markets this week include Mining Power Group, Inc. (OTC:RCGR), Chineseinvestors.com, Inc. (OTC:CIIX), Bitcoin Investment Trust (OTC:GBTC), DMG Blockchain Solutions Inc. (TSX-V:DMGI) (OTC:DMGGF), Block One Capital Inc. (TSX-V:BLOK) (OTC:BKPPF).
Mining Power Group, Inc. (OTCPK:RCGR) BREAKING NEWS : Mining Power Group announced today that its majority-owned subsidiary, Northway Mining, LLC, ("Northway") which offers highly specialized data center hosting services for cryptomining, has signed a 2-year, $270,000 per month hosting contract with Proof Computing, LLC., a U.S.-based firm which will yield approximately $6,480,000 million in revenues to Northway over the 2 years.
The contract encompasses the hosting of about 3,150 miners, including up to 25,000 GPU's, projected to consume about 5 MW hours of electricity per month. Under the terms of the contract, the client is paying a $540,000, or two-month, advance deposit for the hosting services which will cover installation, set up and equipment testing services by Northway. The contract runs from approximately August 1, 2018 to July 31, 2020 and is renewable.
Northway is a cryptocurrency mining hosting facility that provides hosting, electricity, cooling, maintenance, insurance, downtime coverage, OS installation (GPU) assistance, setup & security, and more, including especially low rates for electricity, that reduces client costs and is a major competitive advantage in the marketplace.
The Company had just recently acquired a majority interest in Northway Mining, which has current revenues. In addition, it acquired real estate assets of substantial value including 30 acres of flat surrounding land that will be used for future expansion of Northway's data center facilities. Northway presently has over 5000 square feet of secure crypto mining space.
Dror Svorai, President and CEO, stated, "One of the key reasons we did this acquisition, was that we saw that we were carving out a special niche in this market, where we were not actually competing with cryptomining companies, but we could provide top of the line & state of the art facilities and services that every company in the field would want and utilize. We are not competing with them but are servicing them. That way, the whole market could become our clients… NOT our competition." Read this and more news for Mining Power Group at: http://www.marketnewsupdates.com/news/rcgr.html
Other recent developments in the tech industry include:
Chineseinvestors.com, Inc. (OTCQB:CIIX) recently announced the official launch of its new cryptocurrency trading courses offered through its newly established Bitcoin Trading Academy LLC. The Company officially launched the following three part course offering on July 7, 2018: Bitcoin Trading 101: Students are provided with a basic knowledge about Bitcoin including how to open and trade on different cryptocurrency trading platforms, how to set up a cryptocurrency wallet, futures trading strategies, both long and short, how to use Bitcoin Futures to properly hedge one's Bitcoin portfolio, and how to properly use beginner-friendly trading techniques. Bitcoin Trading 201: The second course in the program focuses on coins such as Ethereum, including coins with significant underlying technology such as EOS, XLM, ADA and NEO, and altcoin trading platforms, such as Binance and Bittrex. In addition, this course will provide instruction on how to use information such as a coin's underlying utility, current industry and sector news in combination with technical analysis in an effort to maximize returns; and effectively scrutinize and understand social media feeds.
Bitcoin Investment Trust (OTCQX:GBTC) In the last year, Bitcoin Investment Trust's shares have traded in a range of 5.29 - 38.71. The share price has gained 91.49% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $10.38 is below its 200-day moving average of $13.34. Shares of Bitcoin Investment Trust have gained roughly 0.98 percent in the past month and are down 54.27 percent year-to-date.
DMG Blockchain Solutions Inc. (TSX-V:DMGI.V) (OTCQB:DMGGF) recently announced that it has begun installation of its own 85-megawatt capacity transformer and electrical substation, which will power the expansion of DMG's flagship cryptocurrency mining facility. DMG expects the substation to be connected to the utility power grid and commissioned for full operation in September 2018, at which time, it will have 60 megawatts available for energizing mining rigs. This facility will become DMG's flagship crypto mining operation in Canada and further expand its mining-as-a-service (MaaS) capacity. Deployment of its new 85-megawatt substation will increase DMG's hosting capability by more than 20 times. Sheldon Bennett, DMG's COO commented, "Building and managing a cryptomining operation at an industrial scale requires a world-class supply chain as well as direct access to local government and electricity providers. Our management team at DMG is unique in that we have the experience, the relationships, and the capital backing to do this successfully."
Block One Capital Inc. (TSX-V:BLOK.V) (OTCQB:BKPPF) announced the following corporate update. The first half of 2018 showed tremendous progress in partnership deals and technology development for OMAAT. The Dance for One Meter (D41M) initiative is being received with enthusiasm in the live events industry on a global level. D41M has signed agreements with three large scale clubbing and event promoters in multiple territories (Ushuaia Ibiza-Europe, RPM Presents-New York, RMD Group-San Diego). D41M is expected to be operational on approximately 360 individual events this year. In July 2018, OMAAT entered into an agreement with Token Foundry Securities LLC (an affiliate of ConsenSys) to undertake an equity offering of up to US$2,000,000 at an anticipated US$10,000,000 pre-money valuation. Block Capital plans to participate in this capital raise for an additional investment of US$300,000.
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