Blockchain
Hut 8 Mining: Officially Repays Loan in Full, Saves Company US$1.6M
Hut 8 Mining Corp. (TSX: HUT) announced that it has paid back its US$20M loan with Genesis Global Capital LLC (“Genesis”) as planned, in full. The repayment of this loan means an extra $U2.4M for Hut 8, driven by the savings from interest expenses of US$1.6M.
“Hut 8 initially took out this loan with Genesis in November 2019 when bitcoin was close to US$7,000. This loan provided Hut 8 additional leverage to significantly benefit our balance sheet, as our bitcoin (which now sits at 3012 Bitcoin on balance), has more than doubled its previous all time highs in 2017″ said Jimmy Vaiopoulos, Chief Financial Officer of Hut 8. “Hut 8 is now well capitalized. This full repayment of debt shows our position of strength in this fast growing industry.”
“The benefits of this loan and it’s repayment for Hut 8 signal the execution of our multi-pronged strategy to grow shareholder value,” said Jaime Leverton, CEO, Hut 8. “We look to reduce expenses without reducing the bitcoin on our balance sheet. We look for revenue diversification strategies to provide increased downside risk protection. This is what Hut 8 is about and what we intend to keep doing as we grow.”
As one of North America’s most innovative, oldest and highest installed capacity Canada-based Bitcoin miners, a summary of recent announcements are:
- As of February 17, 2021 Hut 8 has 3,012 bitcoin on its current balance sheet, 1,000 of these bitcoin are in a Genesis yield account generating a 4% yield paid out in USD.
- Hut 8 holds more self-mined bitcoin than any other publicly traded bitcoin miner in the world. This is a tremendous benefit as investors seek assets such as bitcoin as an inflationary hedge.
- Hut 8 attained its goal of 1.0E/H earlier last year and is on track for a 30%+ increase in energy capacity-maintains its position as leader in installed mining equipment and capacity.
- Hut 8 currently has 1,073 petahash per second (PH/s) installed with an anticipated increase to 1,300+ PH/s as new equipment comes online.
- Hut 8 ranked 11th out of 10,000 in the 2021 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year
- Hut 8 recently achieved its goal of Investment Banking research and earned a (BUY) rating from HC Wainwright investment bank. This is paramount in achieving our objectives of greater institutional investment and capital inflows.
- Hut 8 signed a Global and Canadian First: Bold Energy and Blockchain Innovation Play Through an Exclusive MOU with Global Energy Partner Validus Power Corp. with the intention to secure further capacity expansion and greater energy flexibility.
Blockchain
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Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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