Bitcoin Hits Record Highs, Presenting Companies With Opportunities in the Crypto Space - Seite 2

On March 8, Hello Pal added to its partnership with Yitang, as well as the company's crypto strategy, with a letter of intent to acquire an initial 15% interest in Yitang's cryptocurrency mining facility, North-West China, to be dedicated to mining Dogecoin and Litecoin, with an option to increase that interest to 35%, along with interests in additional Dogecoin and Litecoin mining assets. Once completed, the facility will be able to house 90,000 mining rigs and have a capacity of 70MW, which would make it one of the largest dedicated Dogecoin/Litecoin mining facilities in the world.

"We are excited to expand our crypto strategy to also include Dogecoin and Litecoin, which we believe will play an increasingly important role in the cryptocurrency world going forward," the company's March 8 release explained. "The Hello Pal community, especially what we envision for it to become, is a natural fit with the Dogecoin/Litecoin community, and this deal allows us to become a key player in it."

Hello Pal recently released the company's financial statements for February 2021, posting a third straight month of revenue over $2,000,000. The company achieved a total of CA$2,309,889 for the month.

"What was supposed to have been a very weak month for us revenue-wise has proven to be a nice surprise," Wong said in the company's release. "As we start to diversify away from the China live streaming market, we're very pleased to see our results in the overseas live streaming market continue to grow, particularly in the broadening base of livestreamers broadcasting on Hello Pal."

Crypto Companies See Huge Momentum

Recent months have seen a rush of companies expanding their assets in the crypto space. Blockchain-based e-commerce and blockchain tech services company Future FinTech Group Inc. (NASDAQ:FTFT) recently signed an agreement to acquire a 60% equity interest in Sichuan Ticode Supply Chain Management, signaling that the company is preparing for significant growth in the coming months.

Colorado-based Bitcoin mining company Riot Blockchain Inc. (NASDAQ:RIOT) has spent much of the past year expanding its mining capabilities, acquiring more than 2,000 cryptocurrency miners (Antminers) in February, bringing the company's Bitcoin miner fleet up to 11,500 machines. The company said that it has also placed orders for an additional 26,100 Antminers.