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Investors Remain Focused on the Crypto Space (HVBTF, MINE, MARA)

Few themes have come to define the current surge in capital investment and asset prices – and the culture around this bull market – like the cryptocurrency space.

The explosion higher in the price of Bitcoin gains most of the attention, but the larger theme is much bigger than just Bitcoin. A new concept of money and of transacting value is emerging, and it is gaining traction with increasing legitimacy driven, in large part, by the attachment of brands and influential supporters.

This group now includes, Tesla, Cathie Wood, Square, PayPal, MicroStrategy, and major Wall Street firms such as Goldman Sachs and JPMorgan.

With that in mind, we take a look at some of the more interesting opportunities emerging in stocks with ties to the blockchain and cryptocurrency space, including: HIVE Blockchain Technologies Ltd (OTCMKTS:HVBTF), Minerco Inc (OTCMKTS:MINE), and Marathon Patent Group Inc (NASDAQ:MARA).

 

HIVE Blockchain Technologies Ltd (OTCMKTS:HVBTF) owns state-of-the-art green energy-powered data centre facilities in Canada, Sweden, and Iceland which produce newly minted digital currencies like Bitcoin and Ethereum continuously on the cloud.

The company’s deployments provide shareholders with exposure to the operating margins of digital currency mining as well as a portfolio of crypto coins.

HIVE Blockchain Technologies Ltd (OTCMKTS:HVBTF) recently announced the purchase of 4,180 MicroBT WhatsMiner M31S+ next generation miners with an aggregate operating hash power of 334 Petahash per second (PH/s) as it continues to expand its bitcoin mining operations.

According to the release, with the addition of these 4,180 MicroBT WhatsMiner M31S+ Miners, HIVEs aggregate operating hash rate from Bitcoin mining to almost double to an estimated 653 PH/s. Based on the orders that have been placed, this new equipment is expected to be delivered in 9 tranches in 2021, with 180 miners delivered in April and 500 miners delivered in each month in the remainder of calendar 2021 commencing with May delivery.

And the stock has been acting well over recent days, up something like 62% in that time.

HIVE Blockchain Technologies Ltd (OTCMKTS:HVBTF) managed to rope in revenues totaling $17.3M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 9.2%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($22.1M against $12.6M).

 

Minerco Inc (OTCMKTS:MINE) styles itself as “The Magic Mushroom Company” and is the pioneer specializing in the research, production, and distribution of psilocybin mushroom products (“Magic Mushrooms”).

The Blockchain token SHRU can be used for purchases relating to psilocybin and cannabis. SHRU can be purchased at www.shrucoin.com. Consumers can also utilize the SHRUCOIN PAY app by visiting www.shrucoinpay.com.

Minerco Inc (OTCMKTS:MINE) recently announced the launch of its new blockchain token SHRU and its payment application SHRUCOIN Pay, achieving the second of the company’s major goals set at the Sankofa Summit in January 2021.

According to the company’s release, these innovations will include the ability to facilitate Psilocybin and Cannabis purchases with major credit cards. Despite being legal in specific markets, card companies have shied away from authorizing purchases related to Psilocybin or Cannabis because of their Federal Schedule 1 classification. SHRUCOIN Pay’s model grants consumers full flexibility on choosing their payment method. The application is a first-of-its kind and will serve as a payment processing service like PayPal or Cash App for dispensaries in legal markets.

Julius Jenge, Minerco’s CEO, commented, “Being from Africa, this launch is special for me. As excited as I am for the future of SHRU, I am more thrilled about the fact that we have created a mechanism that will allow us to give back to regions that have been suffering for years with shortages of potable water and poor living arrangements. SHRU is the first step for us in achieving our greater humanitarian mission as we grow here at Minerco financially.”

Minerco Inc (OTCMKTS:MINE) shares have been in a major bull move, powering over 200% higher since December – and as much as 1900% higher in that time. The stock has been pulling back in the last couple weeks, but recently found strong support at its 50-day moving average. The company is moving toward commercial stage operations.

 

Marathon Patent Group Inc (NASDAQ:MARA) mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets. The company currently operates its proprietary Data Center in Hardin MT with a maximum power capacity of 105 Megawatts.

Once fully deployed, the Company will have 21,500 Antminer Bitmain S-19 Pro Bitcoin Miners in operation at this facility. The Company also owns 2,060 advanced ASIC Bitcoin Miners at a co-hosted facility in North Dakota.

Marathon Patent Group Inc (NASDAQ:MARA) recently announced that it and DMG Blockchain Solutions Inc. have entered into a non-binding memorandum of understanding to form Digital Currency Miners of North America, which will be a U.S.-based non-profit entity whose mission is to create a better mining environment for North American miners, to help improve their financial performance, and to create North America’s first cooperative mining pool.

According to the release, Marathon Patent Group and DMG’s U.S. subsidiary, Blockseer, are working together to establish DCMNA, a non-profit entity focused on North American digital currency opportunities, including decentralizing the Bitcoin hashrate and providing more transparency for North American miners. DCMNA’s principal initiative is to create North America’s first cooperative mining pool by licensing Blockseer’s mining pool to all DCMNA members in a cooperative structure. Mining partners who are members will receive rebates based on the hash rate they contribute to the overall pool, thus improving the mining profitability of DCMNA members.

And the stock has been acting well over recent days, up something like 4% in that time.

Marathon Patent Group Inc (NASDAQ:MARA) generated sales of $835K, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 191.9% on the top line. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($17.7M against $1.1M).

Published by Steve Hackney

Steve Hackney is a corporate finance professional with over 14 years of experience in cash management and investing. He earned a Bachelor of Science in Finance from Florida State University and holds a Certified Treasury Professional certification. Steve lives in Orlando, Florida with his family.

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