Point Roberts, WA and Delta, BC – June 29, 2020 (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.
Listen to today’s Crypto Corner Podcast:
Crypto Corner Episode 419: BitMEX Launching Corporate Option, Core Scientific to Buy Over 17,000 Miners from Bitmain, and Mining Giant BHP (NYSE: $BHP) Completes $14 Million Blockchain Trade
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Stocks discussed: (NYSE:BHP)
BitMEX, the Hong Kong-based crypto derivatives giant, recently reported the launching of BitMEX Corporate, described in the announcement as an “account programme is a set of features and services designed to better serve our ever-growing segment of corporate customers.” The service boasts “tailored benefits for corporate clients,” including: corporate legal structure, enhanced service and security, accounting requirements, and an account audit service. An excerpt from the announcement reads:
‘Corporate’ accounts are simply the part of our customer base where the account owner is not an individual, but a company or other legal entity, and as such need different ownership structures for their accounts, ways for employees to access and manage those accounts on their behalf, additional security requirements, and so on.
Cointelegraph reports that AI and blockchain hosting provider Core Scientific has signed a deal to buy more than 17,000 S19 Antminers from Chinese crypto mining giant Bitmain. Russell Cann, Chief Customer Service Officer of Core Scientific, outlined the impetus for growing hash rates in North America to Cointelegraph:
“Our view is that this rise in interest and increase in capital allocation and investment can be attributed to the growing acceptance of crypto and/or digital assets as an investment asset class as well as the favorable investing characteristics of North America; specifically, the stable geopolitical and regulatory environment, suitable climatic conditions and multiple energy sources present.”
He went on to say:
“Importantly, with the collapse of energy pricing, the lower cost power areas in the US and Canada, are creating some unique project opportunities for larger-scale miners, like Core Scientific, to consider.”
Mining giant BHP Group (NYSE:BHP) has completed its first blockchain trade in iron ore – worth $14 million – with China Baoshan Iron & Steel Co Ltd, according to a report from Reuters. The transaction was executed on a blockchain platform developed by MineHub, which “processed contract terms, exchanged digital documents and provided real-time cargo visibility.” BHP sales and marketing officer Michiel Hovers said that “The bulk commodity industry needs a digital revolution to reduce physical documentation processes,” while MineHub’s Chief Executive Arnoud Star Busmann pointed out that “”Current pandemic events and fraud cases in the commodity trading industry are causing a step-change in the adoption of digital solutions.”
Sam Mowers, Investorideas
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