Innovators Revel in the Rapidly Evolving Cryptocurrency Market

2021-9-26 08:46

The cryptocurrency market is ever evolving and growing more complex. Now, government agencies are pushing for more regulations because of how popular digital currencies have become. According to the New York Times, cryptocurrency grew from a digital curiosity into a volatile but widely embraced innovation, and federal regulators are racing to address the potential risks for consumers and financial markets. “Their concerns have only grown as both new and established firms have rushed to find ways to profit from bringing the massive wealth held in cryptocurrency into the traditional financial system through quasi-banking services like interest-bearing accounts and lending,” the Times indicate. A cryptocurrency is a digital asset that utilizes computer code and blockchain technology to operate somewhat on its own, without the need for a central party — be that a person, company, central bank or government — to manage the system. ISW Holdings Inc. , Riot Blockchain, Inc., Marathon Digital Holdings, Inc. , SOS Limited , HIVE Blockchain Technologies Ltd. .

Over the last several years, the perception regarding cryptocurrencies has changed drastically. Earlier in the year, several major companies announced a more open-minded approach to Bitcoin, accepting it as payment for product and services. For example, earlier in August, United Wholesale Mortgage, which made its public debut in January via a special purpose acquisition (SPAC) merger, announced plans to accept cryptocurrency for home loans, in what is being billed as a first for the national mortgage industry. “We’ve evaluated the feasibility, and we’re looking forward to being the first mortgage company in America to accept cryptocurrency to satisfy mortgage payments,” CEO Mat Ishbia said in the company’s second quarter earnings call on Monday, according to CNBC.

ISW Holdings Inc. (OTC: ISWH), transitioning to ‘BlockQuarry,’ pending name change, reported earlier this week that an update for, “current and prospective shareholders on core performance metrics, timeframe for hosting deployment, and corporate identity.”

Performance Metrics. Mining is fully underway in Pennsylvania, and nearing full capacity on hashrate. Final adjustments and updates are being implemented into month end to push performance up to peak potential, at which time the Company’s PA mining operations will be producing mining revenues that will contribute to an overall monthly revenue run rate of $1.5 million at current cryptocurrency pricing.

In addition, the Company anticipates a breakout record quarter for the three months ending September 30, 2021. However, the fourth quarter should be a much more significant breakout in financial terms given that it will be the first quarter featuring a full three months of mining at peak capacity as well as the start of revenues from hosting operations.

Hosting Power Deployment. Management conducted site visits to its primary Southeastern US cryptocurrency mining hosting site earlier in the week. Based on that visit, the project is on schedule and the Company believes it will meet its approximate target for deploying the first 20 megawatts of power at the site around the end of October. This will begin the process of scaling up hosting operations to the full 200 MW that the project is designed to deploy to the Company’s hosting clientele.

Corporate Identity. The Company is still awaiting final approval of its corporate name and stock symbol change from FINRA. As communicated in the Company’s August 3 release, ISW Holdings has officially filed for a corporate name change to ‘BlockQuarry Corp.’ The Company also filed to change its trading symbol. Both filings are now actively going through FINRA, and more details will be announced when FINRA has completed its due diligence process.

Management Commentary. “We will unquestionably log our best quarter in Company history – by a wide margin – when the books close at the end of the month,” noted Alonzo Pierce, ISWH CEO. “But that will likely be dwarfed by what rolls in over coming quarters. We have made a few final adjustments and updates that are being implemented right now that will take us to full capacity in terms of achievable hashrate in Pennsylvania. That will bring us to a topline run-rate of approximately $1.5 million per month, which may double again beginning midway through the fourth quarter as we begin to ramp up hosting revenues.”

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Global Cryptocurrency (GCC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0034358 (-100%)

cryptocurrency evolving market regulations pushing currencies popular

cryptocurrency evolving → Результатов: 126


Фото:

The Kick Ecosystem Could Become One of the Largest Cryptocurrency Ecosystems in the World, and Here’s Why

The cryptocurrency market is constantly evolving and laying down new rules as it develops. Five years ago, cryptocurrency exchanges could exist independently and develop as a separate structure. Today, however, single companies are being replaced by entire ecosystems capable of offering a whole range of services to the client, a one-stop service: from buying and […]

2021-6-29 16:34


Фото:

The University of Malta Introduces Blockchain and DLT Degree Program

The University of Malta, the highest educational institution in bitcoin-friendly Malta, has launched a master’s degree program in blockchain and distributed ledger technology (DLT). The course is aimed at equipping students with the skills they need to function in the rapidly evolving world of blockchain technology, according to reports on October 24, 2019.

2019-10-25 21:00


Bitcoin market’s maturity speculated to be on the rise as Deribit data suggests good news

Bitcoin has been the talk of the cryptocurrency space, ever since its price fluctuations sent the entire industry into a frenzy. With the entry of new institutional investors and participants in the digital asset sphere, several of the world’s largest cryptocurrency’s metrics have also taken a turn for the better, pointing to a market evolving […] The post Bitcoin market’s maturity speculated to be on the rise as Deribit data suggests good news appeared first on AMBCrypto.

2019-8-3 22:30


Состоялся полномасштабный запуск маржинальной торговли на Binance

Ведущая по объемам торгов криптовалютная биржа Binance запустила платформу для маржинальной торговли для всех пользователей. #Binance Launches Margin Trading service for Evolving Cryptocurrency Traders Binance Margin is now available to all eligible users.

2019-7-11 11:17


Фото:

AICPA to Update Auditing Rules to Reflect Blockchain and New Technologies 

The Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA), has announced plans to update the existing auditing standards to reflect the impact of new technologies such as distributed ledger technology (DLT), robotic process automation (RPA), artificial intelligence (AI) and others on the rapidly evolving technical audit industry, according to aRead MoreRead More.

2019-6-26 05:00