PALM BEACH, Fla., Nov. 16, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - As recently reported on Voi.id, observers from Finder.com predict the price of the number of cryptocurrencies will increase soon, including Dogecoin (DOGE), Litecoin (LTC), and Ethereum (ETH). Reporting from Bitcoin.com News, observers say that the price of the cryptocurrency Dogecoin is predicted to break the US $1.21 (around IDR 17,448) in 2025. Meanwhile, Litecoin's price is predicted to reach US $266 (around IDR 3,835.746) by the end of this year. While Ethereum is expected to reach US $4.5 thousand (equivalent to IDR 64 million) by the end of 2021. Litecoin is predicted to rise to IDR 3 million. In addition, Konstantin Boyko-Romanovsky who is the CEO of Allnodes said that Litecoin could reach US $ 180 (IDR 2.5 million) by the end of 2021, and by 2025 LTC is predicted to reach US $ 300 (around IDR 4.3 million). "The price of Litecoin doesn't seem to necessarily correlate with the price of Bitcoin, which is very interesting to observe. However, it becomes more difficult to predict the price of LTC 10 years into the future", said Konstantin. In addition, as many as 15 percent of other Finder panelists estimate Litecoin can penetrate the top 10 cryptocurrencies based on market capitalization. Trade the Chain co-founder Ryan Gorman mentioned that Litecoin is in a bullish trend. "People who are new to (the crypto world) will continue to trade Litecoin because it has always been one of the first crypto assets to be added to new lines like Paypal, Venmo, etc. That innate support will help him continue to score even if it's largely irrelevant", Gorman said. Active companies with recent developments in the industry include: Hello Pal International Inc. (OTCQB: HLLPF) (CSE: HP), Bitfarms Ltd. (NASDAQ: BITF) (TSXV: BITF), Marathon Digital Holdings, Inc. (NASDAQ: MARA), Riot Blockchain, Inc. (NASDAQ: RIOT), TheOLB Group, Inc. (NASDAQ: OLB).
Another report on Voi.id added that he results of a survey conducted by deVere, an international consulting firm, revealed that millennials and Gen Z prefer to receive their salaries in crypto. The CEO of deVere, Nigel Green explained that the younger generation finds crypto assets more attractive because it is part of the technological developments that have taken place since they were children. In addition, they are also affected by the massive innovations that occur throughout their lives. Therefore they better understand the huge potential of cryptocurrencies for the future. Green also stated that Millennials and Generation Z prefer to support digital currencies and autonomous decentralized payment networks over traditional financial systems controlled by monetary institutions and governments. "They clearly believe that crypto is the inevitable future of money," said Green.
Hello Pal International Inc. (CSE: HP) (OTCQB: HLLPF) BREAKING NEWS: Hello Pal Completes Full Upgrade to L7 Miners for LTC and DOGE Mining - New Miners to Arrive in New York State Location Via Air Freight - Hello Pal International Inc., a provider of rapidly growing international live-streaming, language learning and social-crypto platform, is pleased to announce that it has purchased a further 170 L7 miners from the proceeds of the sale of its L3+ model, bringing the total number of L7s to 270 which includes the 100 Antminer L7s announced last month (see October 7 press release). The Company is in the process of acquiring more.
The remaining Antminer L3+ miners, held by the Company's subsidiary (CPal Technology Limited) have been sold for a total consideration of USDT 3.75 million (approximately CAD 4.7 million), which represents a 100% profit compared to the effective purchase price in June of this year. The sale of the L3+ miners and purchase of L7 miners effectively means that the Company's Litecoin/Dogecoin mining rigs have been completely upgraded to the latest Litecoin/Dogecoin miners to be released by Bitmain.
Bitmain's L7 miners are highly sought after and extremely difficult to acquire. Hello Pal's current understanding is that less than 2500 L7 miners are being produced, with no further production planned by Bitmain in the foreseeable future. The L7 model has a hashrate of 9500 MH/s, which is 19 times more powerful than that of the previous L3+ model. They consume substantially less power and have a stability rate of 98 percent in comparison to the previous stability rate of 70% improving overall profit margins considerably.
The new machines are expected to be delivered in December 2021, upon which they will be delivered by airfreight directly to New York State, where the Company's new mining facilities are located and announced earlier this month (see November 10 press release).
"We are fortunate to have this opportunity to upgrade all our mining rigs to the latest and greatest Antminer model," said KL Wong, Founder and Chairman of the Company. "We remain very bullish regarding the future of cryptocurrency and Litecoin and Dogecoin in particular, and look forward to continuing with our plans to integrate cryptocurrency into our product offerings." CONTINUED… Read this entire press release and more news for Hello Pal at: https://www.financialnewsmedia.com/news-hp
Other industry developments from around the markets include:
Marathon Digital Holdings, Inc. (NASDAQ: MARA), one of the largest enterprise Bitcoin self-mining companies in North America, recently published unaudited bitcoin ("BTC") production and miner installation updates for October 2021.
As of November 1, 2021, Bitmain has delivered approximately 30,050 top-tier ASIC miners to the Company's mining facility in Hardin, MT and 12,331 top-tier ASIC miners to a Compute North facility where they are pending deployment. In October, the Company began chartering planes to expedite shipments of miners and mitigate the impact of global logistics issues on its growth trajectory. While deliveries of miners may continue to fluctuate in the near-term, based on current estimates, the Company still anticipates all previously purchased miners to be delivered by mid-2022. Once all miners are fully installed, the Company's mining fleet is expected to consist of approximately 133,000 miners, generating approximately 13.3 EH/s.
Riot Blockchain, Inc. (NASDAQ: RIOT), an industry leader in Bitcoin ("BTC") mining and hosting, recently announced monthly BTC production and operations updates for October 2021, including an increase in estimated self-mining hash rate capacity for 2022, updates to the status of miner shipments and deployment, and updates on the 400 megawatts ("MW") infrastructure expansion at the Company's Whinstone facility ("Whinstone").
Production Updates Were: In October 2021, Riot produced 464 BTC, an increase of approximately 433% over its October 2020 production of 87 BTC; Year to date through October 2021, the Company produced a total of 2,921 BTC, an increase of approximately 257% over its BTC production during the same 2020 period of 818 BTC; As of October 31, 2021, Riot held approximately 3,995 BTC, all produced by the Company's self-mining operations; and Riot currently has a deployed fleet of approximately 27,270 miners, with a hash rate capacity of 2.8 exahash per second ("EH/s").
Bitfarms Ltd. (NASDAQ: BITF) (TSXV: BITF), a global Bitcoin self-mining company, recently received and installed 1,500 Bitmain S19j Pro miners in November, increasing its hashrate to exceed 2 Exahash per second (EH/s).
"Bitfarms reached the important milestone of 2 EH/s in a mere eight months compared to the 3 years and 10 months that it took us to attain 1 EH/s," said Emiliano Grodzki, Bitfarms Founder and Chief Executive Officer. "Doubling our corporate hashrate in a matter of months is a tremendous accomplishment. This is a testament to the incredible operations teams Bitfarms and our wholly owned electrical engineering subsidiary, Volta Électrique, have developed over the last four years of continuous operation. Doing so in the same time that the Bitcoin network has only grown approximately 12% means that Bitfarms has accumulated a larger share of the network hashrate and Bitcoin mining rewards."
"In 2022, we expect to ramp our hashrate even faster. Bitfarms is already one of the largest Bitcoin miners, not just in North America, but globally. As we continue to execute on our expansion plans, we expect to continue to outpace Bitcoin network growth to drive even higher Bitcoin production numbers throughout 2022," concluded Grodzki.
TheOLB Group, Inc. (NASDAQ:OLB), a diversified Fintech eCommerce merchant services provider and Bitcoin crypto mining enterprise, has announced financial results for first quarter ended September 30, 2021.
We are a FinTech company and a payment facilitator that, through our subsidiaries, focuses on a suite of products in the merchant services and payment facilitator verticals. These services include electronic payment processing, cloud-based multi-channel commerce platform solutions for small to medium sized businesses and crowd funding services. The Company is focused on providing these integrated business solutions to merchants throughout the United States through three wholly-owned subsidiaries, eVance, Inc., Omnisoft.io, Inc., and CrowdPay.us, Inc. In the Third Quarter we launched a new wholly owned subsidiary, DMint, that focuses on Bitcoin mining utilizing sustainable power generated from natural gas.
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