Investors seeking a strong speculative growth footprint in their portfolios may benefit from exposure to the cryptocurrency space given the large price correction experienced by Bitcoin over the past two years, which went a long way toward purging the space of existing speculative cash, offering an interesting opportunity for new growth capital.<\/p>\n
As the old saying goes, buy when there\u2019s blood on the street. While Bitcoin has battled back a bit, it remains under $30K after reaching nearly $70K in late 2021.<\/p>\n
Importantly, cryptocurrency could become the dominant form of global currency. It has the potential to be more efficient, secure, and transparent than traditional fiat currencies. It could also help to reduce the cost of international transactions and make it easier for people to send and receive money around the world.<\/p>\n
As the technology matures and more people become aware of its benefits, it is likely to become more widely adopted.<\/p>\n
More and more businesses are already starting to accept cryptocurrency as payment. This is helping to increase the demand for cryptocurrency and make it more widely accepted.<\/p>\n
Developers are constantly developing new applications for cryptocurrency. These applications could help to further increase the demand for cryptocurrency and make it more useful in everyday life.<\/p>\n
As cryptocurrency becomes more widely adopted, governments are likely to start regulating it, too, helping to create a more stable and secure foundation, which could lead to further growth.<\/p>\n
The technology has the potential to revolutionize the way we think about money, and it is likely to become more widely adopted in the years to come. With that in mind, we take a look below at some of the more interesting opportunities for investors seeking speculative exposure to cryptocurrency through the equity markets.<\/p>\n
<\/p>\n
Riot Blockchain Inc. (Nasdaq:RIOT)<\/strong> focuses on mining Bitcoin, and through Whinstone, its subsidiary, hosting Bitcoin mining equipment for institutional clients.<\/p>\n RIOT is expanding and upgrading its mining operations through industrial-scale infrastructure development and latest-generation miner procurement. Through Riot\u2019s subsidiary ESS Metron, the Company engineers and manufacturers electrical equipment solutions for Bitcoin mining and other industries.<\/p>\n Riot Blockchain Inc. (Nasdaq:RIOT) recently announced unaudited production and operations updates for March 2023. Riot produced 695 BTC, an increase of approximately 36% as compared to March 2022 production of 511 BTC. Riot held approximately 7,072 BTC as of March 31, 2023, all produced by the Company\u2019s self-mining operations. Riot sold 675 BTC, generating net proceeds of approximately $16.7 million. Riot had a deployed fleet of 94,176 miners, with a hash rate capacity of 10.5 exahash per second (\u201cEH\/s\u201d), as of March 31, 2023, which excludes 17,040 miners that are offline as a result of damage to Building G from the severe winter weather in late December in Texas.<\/p>\n \u201cRiot is proud to announce another strong month of production, mining 695 Bitcoin in the month of March,\u201d said Jason Les, CEO of Riot. \u201cThis strong performance is a direct result of the hard work our team members have put in over the past two years, in order to get us near completion of our long-term expansion project at the Rockdale Facility. Upon completion of the final buildout and deployment of miners at our Rockdale Facility in April 2023, our teams will remain focused on maximizing operating efficiencies to further improve performance and results at the Rockdale Facility, and on the continued development of our new Corsicana Facility.\u201d<\/p>\n If you’re long this stock, then you’re liking how the stock has responded to the announcement. RIOT shares have been moving higher over the past week overall, pushing about 10% to the upside on above average trading volume.<\/p>\n Riot Blockchain Inc. (Nasdaq:RIOT) managed to rope in revenues totaling $60.1M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of -33.8%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels exceeding current liabilities ($339.7M against $121.5M).<\/p>\n <\/p>\n Vortex Brands Co (OTCMKTS: VTXB)<\/strong> bills itself as a leading provider of cryptocurrency mining services, offering a range of solutions for individuals and institutions seeking exposure to the rapidly growing digital asset bitcoin.<\/p>\n With a focus on sustainability, innovation, and operational excellence, Vortex Brands is committed to delivering long-term value to its stakeholders.<\/p>\n Vortex Brands Co (OTCMKTS: VTXB) recently announced a quarterly cash dividend for its shareholders from its Bitcoin mining operations. The dividend payment represents $0.000006 per share and will be distributed to shareholders of record as of May 1, 2023, and paid on June 15, 2023.<\/p>\n “Providing value to our shareholders is a top priority for us, and we are delighted to continue this tradition of distributing cash dividends from our Bitcoin mining operations,” said Todd Higley CEO Vortex Brands.<\/p>\n “As the cryptocurrency market continues to grow, we remain committed to expanding our mining capabilities and generating sustainable returns for our investors.”<\/p>\n Vortex Brands Co (OTCMKTS: VTXB) is the most speculative name on our list today, but it still makes the list. It trades at a steep discount relative to the coins and stocks that dominate the space, and could therefore see disproportionate share price growth on coming news that demonstrates its viability. We would also note that a dividend is a good demonstration of viability in and of itself, which is why we are covering it here.<\/p>\n <\/p>\n Hive Blockchain Technologies Ltd. (Nasdaq:HIVE)<\/strong> went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy.<\/p>\n The company defines itself as a growth-oriented technology stock in the emergent blockchain industry. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where it claims to source only green energy to mine on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards.<\/p>\n Hive Blockchain Technologies Ltd. (Nasdaq:HIVE) recently announced the production figures from the Company\u2019s global Bitcoin operations for the month of March 2023, with 282 Bitcoin produced, and a current BTC HODL balance of approximately 2,310 (as of March 31, 2023). On average the Company has continued to operate above 3 Exahash (\u201cEH\/s\u201d) throughout March 2023 (all amounts in US dollars, unless otherwise indicated). HIVE produced 282 Bitcoin in the month of March 2023, from ASIC and GPU mining operations, representing an average of 91 Bitcoin Per Exahash, with an average hashrate of 3.09 EH\/s; HIVE Produced an average of 9.1 BTC per day in March 2023; and HIVE has received over 5,600 BuzzMiners in its data centers, all of which are operating as of today;<\/p>\n Frank Holmes, Executive Chairman of HIVE stated, \u201cWe are very happy to be producing 282 Bitcoin while difficulty has reached an all-time high. Additionally, our average daily HPC income has increased by 14% on average month over month, from February to March.\u201d<\/p>\n Even with that news, the action hasn’t really heated up in the stock, with shares moving net sideways over the past week.<\/p>\n Hive Blockchain Technologies Ltd. (Nasdaq:HIVE) managed to rope in revenues totaling $19.4M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of -77.4%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels exceeding current liabilities ($72M against $30.2M).<\/p>\n <\/p>\n Other key names in the Crypto space <\/strong>include Marathon Digital Holdings Inc. (Nasdaq:MARA), Coinbase Global Inc. (Nasdaq:COIN), MicroStrategy Inc. (Nasdaq:MSTR), and Bit Digital Inc. (Nasdaq:BTBT).<\/p>\n","protected":false},"excerpt":{"rendered":" Investors seeking a strong speculative growth footprint in their portfolios may benefit from exposure to the cryptocurrency space given the large price correction experienced by […]<\/p>\n","protected":false},"author":35,"featured_media":55779,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[16565,2236],"tags":[],"stock_ticker":[15128,15294,16662,14063,15132,13648,13664,14811,16661],"class_list":["post-64550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-business","stock_ticker-btbt","stock_ticker-coin","stock_ticker-hive","stock_ticker-mara","stock_ticker-mstr","stock_ticker-nasdaq","stock_ticker-otcmkts","stock_ticker-riot","stock_ticker-vtxb","entry"],"acf":[],"yoast_head":"\n