IPO: This bitcoin mining company wants to go public

IPO: This Bitcoin mining company wants to go public

Bitcoin mining is more than profitable. A new report now shows that digital miners have also secured a nice „passive income“ on the stock market. Mining company Greenidge now wants to jump on the bandwagon and is aiming for an IPO.

Vice president of digital assets at analytics firm Fundstrat Leeor Shimron notes in a report that shares of Bitcoin miners have outpaced the digital Bitcoin Code store of value’s price rally. While the BTC price has grown by 900 per cent, miner stocks have risen by an average of 5,000 per cent, he says. And indeed, if you look at the RIOT Blockchain share, for example, you will see that the trading stock is currently even more than 2,000 percent above the average.

According to the analyst, there is a „high correlation“ between the rapid rise in the miner’s share price and the BTC price. Shimron concludes that for every one per cent that BTC gains, miner shares increase by 2.5 on average. However, if the BTC price goes into a downward spiral, the company shares would have to suffer from greater volatility.

Bitcoin miner wants to go public

These market developments have made the mining company Greenidge want to be listed on NASDAQ. To this end, the digital miner from the US city of Dresden in New York State is merging with Support.com, a technical support company listed on the US stock exchange NASDAQ. This is stated in a press release. The merger is a so-called „stock for stock merger“. In this process, shares in one company are exchanged for shares in another company. Shareholders can then exchange their existing shares for the newly issued securities.

In Greenidge’s case, Support.com becomes a subsidiary but remains listed on NASDAQ. The Bitcoin miner, meanwhile, is itself aiming for an IPO on the largest electronic exchange in the US. However, the company did not give an exact date. Commenting on the merger, Greenidge said:

‚This merger is an important next step for Greenidge as we build on our existing, integrated and proven platform for bitcoin mining and low-carbon, affordable energy generation.
Greenidge Generation Holdings Inc, 22 March 2021

Currently, the bitcoin miner says it has 19 megawatts of mining capacity. By the end of the second quarter of 2021, it expects to increase to 41 megawatts. By the end of 2022, the capacity should more than double to 85 megawatts. If these targets are met, one should observe an enormous impact on the share price of the mining company, if it is then listed on the NASDAQ. However, the news of the merger with Greenidge definitely had an effect on Support.com’s common stock. After the announcement, the company’s share price shot up from 2.14 USD to 9.15 USD. Currently, the stock is at USD 7.10.

DeFi’s komposabilitet og høje rentabilitet er fremtiden for finansiering

John Wu, præsident for Avalanche Labs, og Sten Laureyssens, strategisk rådgiver hos Waves Associations, fortalte Cointelegraph China ved sit ugentlige Hub-interviewbegivenhed den 4. februar, at decentral finansiering med interoperabilitet og høj skalerbarhed kunne ændre fremtidens finansiering.

Wu mener, at sammenlignet med traditionel finansiering er DeFi stadig i den tidlige fase af udvikling og anvendelse

Imidlertid vil DeFi langt overgå traditionelle finansielle institutioner i den nærmeste fremtid, fordi dets protokoller er ubegrænsede. Det sparer også meget omkostninger og kan også skabe betydelige fordele for almindelige brugere.

Wu påpegede også, at den ideelle DeFi-platform skulle være i stand til at kombinere en decentral tværkædebro med mange forskellige blokkæder. Han tilføjede:

”Som vi alle ved, er den sejeste del af Crypto Cash komposibiliteten mellem forskellige applikationer. Jeg håber, at alle disse penge Lego vil blive vedtaget og integreret sammen for at give brugerne nye finansielle produkter. ”

Wu afslørede, at Avalanche Protocol er en open source blockchain-platform designet til DeFi med interoperabilitet og høj skalerbarhed. Mere fremtrædende er Avalanche Protocol den første smarte kontraktplatform, der opnår bekræftelse inden for et sekund og understøtter alle Ethereum-udviklingssæt.

Lavine håber også at hjælpe forskellige DeFi-projekter på sin platform. Ifølge Wu er der allerede nogle gode projekter bygget på lavine, såsom automatiserede market makers, decentraliserede udlån, decentral option syntese og derivater.

Alternativer betyder noget

Sten Laureyssens, en strategisk rådgiver for Waves Association, påpegede, at Robinhood og GameStop viste, at vi har brug for et nyt alternativt system. Han forklarede:

”Robinhood og GameStop vil få investorer til at indse, at det nuværende eksisterende traditionelle system ikke er passende for dem. Det vigtigste spørgsmål er: Hvilke egnede alternativer er tilgængelige i blockchain-feltet? ”

Høj inflation i lande som Tyrkiet og Brasilien er en anden grund til, at et alternativt system er afgørende, mener Laureyssens. Han tilføjede:

“Some people are buying stablecoins because they don’t need a bank account to exchange money directly into cryptocurrency. However, this is far from enough. What users really need is the high-yield capability in decentralized finance.”

According to Laureyssens, Waves, as a powerful blockchain-agnostic ecosystem focused on inter-chain DeFi, has a vision to be the embodiment of technological freedom for blockchain-based finance.

Laureyssens also pointed out that the current DeFi space still lacks a better solution to give users a better experience. Waves is actively participating in the DeFi ecosystem and building DeFi infrastructure.