NEW YORK, March 4, 2021 /PRNewswire/ -- The cryptocurrency and blockchain segments are back at the center of attention. After the recent rise of the major cryptocurrencies, Bitcoin and Ethereum in particular, prices have pulled back slightly on Monday. The price of Bitcoin rose to all new highs on Sunday, reaching a peak of USD 58,354, taking its gains so far this year to almost 100%. The rival cryptocurrency Ethereum, which tends to move in tandem with Bitcoin, also broke a new record during the weekend, crossing the USD 2,000 mark. Bitcoin's record-breaking price on Sunday turned it into a trillion-dollar asset. This was made possible thanks to blockchain technology, with which Bitcoin has a symbiotic relationship. Without blockchain, Bitcoin is useless, because when a Bitcoin transaction is made, a sophisticated digital trail is created on a shared ledger. This ledger means that the transaction itself is open and public, but the person's identity who facilitated the transaction is encrypted and remains private. Snipp Interactive Inc. (OTC: SNIPF) (TSX-V: SPN), Marathon Patent Group, Inc. (NASDAQ: MARA), Riot Blockchain, Inc. (NASDAQ: RIOT), Galaxy Digital Holdings Ltd. (OTC: BRPHF), BIGG Digital Assets Inc. (OTC: BBKCF)
As a result of the recent crypto boom, investors once again started to view the new digital currencies as potential long-term investments necessary in a properly diversified portfolio. Therefore, it is not surprising that ETFs with a focus on crypto and blockchain are doing so well. "Just over three years ago we launched the first actively-managed ETF focused on the dynamic market segment of blockchain-related stocks," said Amplify CEO Christian Magoon. "BLOK has provided investors with additional portfolio diversification through its unique portfolio makeup that includes the Bitcoin Investment Trust. Blockchain technology is primarily known for one application today: cryptocurrency. However, there is a fast-growing universe of applications for blockchain technology. We believe the growth of crypto is a case study on the values blockchain technology delivers when it comes to trust, data sharing, efficiency and transparency."
Snipp Interactive Inc. (OTC: SNIPF) (TSX-V: SPN) just announced breaking news regarding the, "pilot program ("Pilot") for a top 5 global market research and consulting firm ("Client"). This is a new industry that Snipp focused on entering last year. Refer to press releases disseminated on January 5th, 2021, titled "Snipp provides update on previously announced pilot program with a top 5 global research firm" and November 9, 2020, titled "Snipp Interactive launches programs across new industries and geographies as it looks to scale growth."
Based on the success of the Pilot that was carried out in the second half of 2020 and a successful deployment on January 4, 2021, Snipp is pleased to announce that it has received an order for the deployment of the SnippRewards platform across 15 countries spread across 4 continents (11-Europe, 1-Asia, 2-Latin America and 1-North America - Canada). 11 of these countries will be launched in the first quarter of 2021 and the remaining 4 in April 2021. The Client's end customer for this roll out is a leading American Multichannel cigarette and tobacco company. The Client has also indicated that they will be issuing subsequent orders to cover a total of all 39 countries that are represented in this research panel for their end customer. The potential contract value of the complete deployment as previously mentioned stands at between US $2 million and $3 million on an annualized basis.
This Client of Snipp has multiple such customers that can leverage the SnippRewards platform to incentivize their research panels. The Client has a presence in 90 markets today. Preliminary conversations are underway for transitioning other customers of this Client to the SnippRewards platform. SnippRewards is a leading rewards platform that has integrated over 1,325 unique brand rewards across 150+countries and 45+currencies including cryptocurrency rewards.
'The growth of our order book with this Client from a single pilot country last year to 15 countries today is a testament to the confidence this Client has not only in the scalability of our platform but also in our seamless implementation capabilities. Moreover, it represents not only the global reach of our solutions but also the applicability of the platform across industries to solve for a variety of different client objectives', said Atul Sabharwal, Founder, 'We look forward to the continued roll out of SnippRewards not only for this Client but particularly towards the new opportunities in previously untapped markets this roll out will potentially bring us. Snipp typically services large Fortune 1000 clients who operate globally so proving our ability to deploy our capabilities in all of the markets that our clients operate in represents a large opportunity for our growth.'
Visit the Snipp website at http://www.snipp.com/ for Snipp's full suite of solutions and examples of Snipp programs."
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Marathon Patent Group, Inc. (NASDAQ: MARA) announced last month that it has provided a one-year grant to world-renowned bitcoin core developer Jonas Schnelli. Marathon's grant follows Coinbase's recent decision to help contribute to the development of Bitcoin Core by offering grants to two developers: Joao Barbosa and an anonymous developer known only as 0xB10C. Both Barbosa and Schnelli had been receiving funding from crypto mining giant, Bitmain. However, in late 2020, Bitmain decided to stop providing its support, at which point Coinbase and Marathon Patent Group independently decided to step in and offer alternative sources of funding with their respective developer grants.
Riot Blockchain, Inc. (NASDAQ: RIOT) reported earlier this month that it will achieve an estimated hash rate capacity of 1.06 Exahash per second ("EH/s") with the deployment of the newly received 2,002 S19 Pro Antminers. "Exceeding 1 EH/s in hash rate capacity marks a major milestone for the Company," said Jason Les, CEO of Riot. "While we are proud of this accomplishment, we view it as the successful completion of just one of many steps of our ongoing growth plan. Riot continues to receive and deploy next-generation miners from Bitmain and remains on schedule to more than triple our currently deployed capacity by the fourth quarter of 2021."
Galaxy Digital Holdings Ltd. (OTC: BRPHF) announced last month the launch of Galaxy Digital Mining, a new business unit committed to providing bitcoin miners with a comprehensive suite of financial services and products. Galaxy Digital Mining will serve as a one-stop financial services platform for miners — drawing the firm's expertise in trading and risk management, investing and lending, and corporate advisory under one umbrella, tailored to the needs of the mining sector. Leading this new business is Amanda Fabiano, who joined Galaxy from Fidelity Investments, where she oversaw the firm's mining investments and initiatives as Director of Bitcoin Mining. The team working alongside her brings deep experience at the intersection of traditional finance and digital assets, with backgrounds spanning real asset financing, non-traditional securitization, structured products, investment banking, and strategic advisory.
BIGG Digital Assets Inc. (OTCQB: BBKCF) announced yesterday that it has acquired 60.7 additional Bitcoins which will be used for the Netcoins operational float, and also become part of BIGG's long term treasury holdings. BIGG purchased these 60.7 Bitcoins at an average cost of USD$44,970 per BTC. This purchase, added to BIGG's existing Bitcoin holdings, brings the treasury to 300 Bitcoin, valued at CAD ~$21.5 million (USD ~$17.1 million) as of 7pm PST February 21, 2021. BIGG believes strongly in the future of Bitcoin, its store of value capability, and its future valuation potential. BIGG CEO, Mark Binns, remarks, "As previously committed, BIGG has continued to accumulate Bitcoin in order to provide an operational float for Netcoins which continues to experience significant monthly increases in trading volume. We will also put BIGG's operational profits into Bitcoin on a monthly basis going forward, as per plan. We look forward to updating shareholders with more operational updates soon."
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