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Friday March 16 2018, Daily News Digest

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News Summary

United States

Circle launches a Coinbase competitor in the U.S. (TechCrunch), Rated: AAA

Circle  is launching Circle Invest in the U.S. except in NY, MN, HI and WY. The app is now available in the App Store and Play Store and lets you instantly trade the most popular cryptocurrencies without any fee.

Circle Rolls Out Crypto Investment App in 46 US States (CoinDesk), Rated: A

Describing it as “an app that’s actually built around investing, not trends,” the company released the product for download via Apple’s App Store or Google Play on Tuesday in 46 states, excluding Minnesota, Wyoming, Hawaii and New York.

LiteCoin (LTC): LitePay Is Not Going To Happen (Global Coin Report), Rated: AAA

LitePay was announced to be released first around the end of February 2018, then was rescheduled for launching at the beginning of March. However, all LiteCoin users that have taken time to apply for LitePay by pre-registering have gotten interesting, although a disappointing email from LiteCoin development team in charge of LitePay project.

The email stated that LitePay was delayed for indefinitely. That means that LitePay may never happen, at least not in the near future.


Why America Can’t Regulate Bitcoin (Hackernoon), Rated: AAA

Hearings on Bitcoin and its derivatives are being held in the USA on a regular basis, and invariably the expert witnesses fail to properly describe the actual processes going on. If they used the correct language and excluded all analogies, the only possible conclusion would be that America cannot regulate Bitcoin under its current legal system. The Constitution guarantees the inalienable rights of American citizens, and therefore Bitcoin is a protected form of publishing.

Bitcoin is a distributed ledger system, maintained by a network of peers that monitors and regulates which entries are allocated to what Bitcoin addresses. This is done entirely by transmitting messages that are text, between the computers in the network (known as “nodes”), where cryptographic procedures are executed on these messages in text to verify their authenticity and the identity of the sender and recipient of the message and their position in the public ledger. The messages sent between nodes in the Bitcoin network are human readable, and printable. There is no point in any Bitcoin transaction that Bitcoin ceases to be text. It is all text, all the time.

Coinbase: No Need For New Cryptocurrency Regulator (Forbes), Rated: A

There’s no need for Congress to establish a new cryptocurrency regulator or a new regulatory system, Coinbase said today. “Federal regulators already have sufficient authority,” said Mike Lempres, chief legal and risk officer for the San Francisco-based digital currency wallet and exchange company, which claims 20 million customers.

There’s no need for Congress to establish a new cryptocurrency regulator or a new regulatory system, Coinbase said today. “Federal regulators already have sufficient authority,” said Mike Lempres, chief legal and risk officer for the San Francisco-based digital currency wallet and exchange company, which claims 20 million customers.

Is this a ploy to support the centralized Ripple (XRP)? (CryptoRecorder), Rated: A

It could be, but there is another player in this picture, and that’s Ripple (XRP). When the SEC announced the need to regulate the crypto market, Ripple was very quick to support the same. This could be an indicator that Facebook and Google may not launch their own cryptos after all. They could be preparing to adopt Ripple as their crypto of choice! The three technology giants agree on one thing, and that’s the issue of regulations.

This could be a scheme to try and control cryptocurrencies, by weakening the rest of the market and uplifting the more centralized Ripple (XRP). It could be that these companies see cryptocurrencies as a threat and want to elevate a more centralized crypto, one that they are fully in control of.

The Digital Gold Rush For Cryptocurrencies (ValueWalk), Rated: AAA

Crypto investors are staring into a sea of red this week as total market cap has fallen below $350 billion, a level not seen since (way back in) December 2017.

Last year was a digital gold rush for ICOs, as crypto offerings raised over $3.8 billion, doubling the amount of venture capital raised by traditional internet companies.

And even though the crypto markets have been struggling in 2018, the total amount raised by ICOs so far this year is closing in on $3 billion, with $850 million attributed to a record-breaking ICO for cloud-based messaging service Telegram.

ICOs cryptocurrencies
Source: ValueWalk

We’ve never witnessed a public market for early-stage ideas, where one strategic move can send the value 500% higher or 75% lower in a short amount of time. Typically, in venture investments, you had to wait for another funding round to find out if your initial investment gained or lost.

Here’s How Much Lower Analysts Think Cryptocurrency Values May Go (Fortune), Rated: A

Those losses for cryptocurrencies are notably not since Bitcoin’s peak in December, when it reached $20,000 on some exchanges. Rather, that’s nearly $500 billion lost based on when those 1,565 cryptocurrencies tracked by CoinMarketCap collectively reached their all-time high in valuation.

For the most part however, the smaller, so-called alt-currencies have largely followed the up-and-downs of Bitcoin—a trend that the most recent sell-off has maintained.

“When sentiment is this weak, the market is increasingly ‘fire, ready, aim’—meaning, any headline today is likely to trigger selling,” wrote Thomas Lee, Fundstrat Global Advisors managing partner, in a note early Thursday. That comes as the price of Bitcoin reaches about $8,000, down 7% in the last 24 hours. Similary, the price of Ethereum dropped 9% below $600, while Ripple fell to 68 cents, falling about 8% during the same period.

Based on back of the envelope calculations and estimates from Fundstrat, Bitcoin valuation could shed another $37 billion in the near future, falling to about $99 billion in market capitalization.

‘Blockchain Bros’ No More: Women In Cryptocurrency Speak Up About Their Accomplishments (Forbes), Rated: AAA

A feature story was published in the New York Times recently that went into great detail about the unwelcoming “blockchain bros” culture that has been set up for women in the cryptocurrency space.

Jobanputra was recently interviewed on Laura Shin’s Unconfirmed Podcast to share her opinion on the article’s overall tone.

What I was disappointed about in the article was that we weren’t discussing the actual work that women were doing in the sector,” Jobanputra told Shin. “During my 5 years of investing in the space, I’ve come across brilliant women, and more and more as time goes on who are involved in regulatory conversations and starting new companies in the sector. I’d like to see these women highlighted.

Jimmy Ku, director of business development at River Ecosystem, hosted the “Empowering Women in the Cryptocurrency Space” panel at South by Southwest this week.

All four of the women who spoke on the empowering women in crypto panel are known for being early innovators in the cryptocurrency space. For example, Tina Hui, CEO and founder at Follow The Coin, has been interested in Bitcoin since 2013 when she took up a consulting project focused on cryptocurrency mining.

Elvina Kamalova was another panelist. She is currently the director of growth at Blockmason, which launched a decentralized app on blockchain called Lndr.io last week.

New investors discovering they have hefty tax bills to pay may be contributing to bitcoin’s fall (CNBC), Rated: A

During last year’s rise in bitcoin, some first-time investors had forgotten about a downside of making money off of trades: Taxes. Millennial investors are waking up to a looming April tax filing date, which some say may be contributing to the digital currency’s sell-off below $8,000.

“For younger people who don’t have taxes top-of-mind, or have never invested before, they’re shocked,” said Cathie Wood, CEO & CIO at ARK Invest. “People had huge gains last year, and they don’t have enough in crypto to pay those.”

Those who traded bitcoin in 2017 had reason to celebrate. The digital currency rose 1,289 percent after starting the year around $997, according to data from CoinDesk. When the year ended on Dec 31, the price of bitcoin was above $13,000.

Billionaire Alan Howard Is Said to Be Planning Investments in Cryptocurrencies (Fortune), Rated: B

Hedge fund billionaire Alan Howard made sizable personal investments in cryptocurrencies last year and plans to put more of his own money into digital assets and the blockchain technology behind them, according to people with knowledge of the matter.

How Blockchain Will Change HR Forever (Forbes), Rated: AAA

From big-picture areas like hiring and taxes to smaller scale tasks like payroll, there are so many important human resources applications that blockchain will change.

Blockchain will make resumes and LinkedIn obsolete

Instead of an applicant writing up a description of where they’ve worked and what they’ve done, blockchain transactions will simply store all of their employment history.

We won’t adjust our resumes or alter how we present ourselves based on the specific job we’re applying to. Blockchain can document both our successes and failures, encouraging us to embrace those failures and what we’ve learned from them instead of just leaving them out.

If LinkedIn does continue to exist, its main value add will be in the form of a nicer user interface that makes blockchain technology easier to navigate.

Blockchain will automate taxes and make them more accurate

Right now, taxes for contract workers are complicated. From write-offs to estimated taxes, the annual tax burden is a headache for workers and employers alike.

I also have to meticulously track my expenses if I want to take deductions, saving receipts for years. The frustration and headaches this causes are exemplified in an episode of Seinfeld called “The Truth,” where Jerry makes a desperate phone call to a computer store, trying to get some sort of proof that he purchased a computer years ago.

Blockchain will streamline routine tasks

Everything from tracking payroll to issuing paychecks to managing contracts is more efficient with blockchain.

Anheuser-Busch Owner Pilots Blockchain for Shipping (CoinDesk), Rated: A

The parent company of beer maker Anheuser-Busch has taken part in a blockchain pilot in a bid to test the tech for global shipping uses.

PlayTable tablet uses blockchain technology to enhance board games (The Guardian), Rated: A

San Francisco-based company Blok.Party has developed a new way to play board games using blockchain technology: the PlayTable, a hybrid of video games console and table-sized tablet.

After The ICO: Q&A With Oleg Seydak, Founder, Blackmoon Crypto (Forbes), Rated: A

Blackmoon Crypto is a Fintech blockchain-based company that raised $30 million during its ICO in September last year.

Monty Munford: Blackmoon wants to bring the traditional (fiat) and crypto universe in the investment industry together. Why is this necessary?

Oleg Seydak: For any innovation in history, it takes time for it to be understood and integrated into the mainstream acceptance. The initial period of uncertainty and volatility creates potential downside for the investors, as was the case with the dot com bubble.

The big winners in initial coin offerings are lawyers, Ripple CEO says  (CNBC), Rated: A

The CEO of one of the largest cryptocurrency-linked companies in the world, said this week that the “winners” in the booming practice of initial coin offerings will come from the legal community.

While the ICO market is a fairly substantial one — companies raised $3.8 billion through ICOs last year, according to CoinSchedule — the space is also unregulated in many countries. Investors and companies in the space are not nearly as protected by the regulatory frameworks that are in place in traditional financial markets.

Around 46 percent of ICOs launched last year had failed as of February, according to a study by Bitcoin.com.

City guide startup Cool Cousin tops out private ICO ahead of its upcoming public offering (VentureBeat), Rated: A

The travel industry stands out as an obvious target for disruption via blockchain technologies. In an environment where just two companies account for 95 percent of the online travel agent market in the United States, a decentralized approach makes sense.

One entrant is Cool Cousin, a platform that offers curated city guides created by locals, which is in the process of converting its offering to use blockchain technology and its currency, the Cuz token.

Abra Adds 18 New Cryptos for Mobile Investing (CoinDesk), Rated: A

Crypto wallet startup Abra is expanding the number of cryptocurrencies it supports to 20 from just two – bitcoin and ethereum – currently.

Announced today, bitcoin cash, dash, dogecoin, ethereum classic, golem, litecoin, omisego, qtum, XRP, vertcoin and zcash will be immediately available on the app. Over the next few days, it will also roll out bitcoin gold, stellar lumens, digitbyte, augur, status, stratis and 0x.

More Illinois universities adding digital currency classes (News-Gazette), Rated: B

Now some Illinois professors are altering lesson plans that before just grazed the subject of digital currency, while other schools are offering entire courses on bitcoin and blockchain, the technology underlying digital currencies.

The University of Illinois at Chicago doesn’t offer any full-fledged classes on digital currency yet, but professor Gib Bassett, head of the finance department, is planning a panel discussion on bitcoin in his Exchanges MBA course this month.

DePaul University assistant professor Lamont Black said digital currency has become a core concept in courses that cover money, banking and capital markets.

Cryptocurrency startup Strix Leviathan raises $ 1.6M from Joe Montana, Doug Baldwin, VC firms (GeekWire), Rated: B

Despite all the instability, some investors like what they see with Strix Leviathan, a new Seattle startup led by Blue Box founder Jesse Proudman.

The company today announced a $1.625 million seed round from a diverse set of investors ranging from top VC firms to NFL players. Liquid 2 Ventures, a San Francisco firm co-led by NFL Hall of Fame quarterback Joe Montana, led the round. Founders’ Co-op, Future/Perfect Ventures, and 9Mile Labs also participated, along with several angel investors, including Seattle Seahawks wide receiver Doug Baldwin, Chris McCoy, Kirby Winfield, and Steve Hall.

Strix Leviathan has created a cryptocurrency trading and management service for enterprises and institutions.


$ 67 Billion Wiped Off Cryptomarket Since Monday (CoinList), Rated: AAA

The cryptocurrency market has shed more $60 billion since Monday as the Google announcement that it will ban cryptocurrency related ads continues to take toll on the market. While it not unusual for the highly volatile market, the current slump marks one of the highest sell off after a similar depression early February.

Total market cap is now estimated at 331 billion according to CoinMarketCap. About $37 billion has been wiped off in the last 24 hours alone.

On Monday, the total cryptocurrency market cap was in excess $396 billion compared to $330 billion on Thursday.

On aggregate, Bitcoin, Ethereum and Ripple has lost 16%, 18% and 18% respectively in the last seven days. Most coins have lost anything between 15-30% over a similar period.

crypto market cap
Source: CoinMarketCap

Bitcoin bubble ‘just about to burst,’ major money manager says (CNBC), Rated: AAA

Bitcoin prices are in a bubble that will burst in the near future because the cryptocurrency has many inherent flaws, Allianz Global Investors said in a report.

The cryptocurrency “ticks all of the boxes that we consider to be essential criteria of any asset bubble,” including a fivefold surge in trading volumes over the last five years, lack of financial regulation and the launch of related financial instruments such as bitcoin futures, the Allianz report said.

bitcoin bubble
Source: CNBC

Bad news for bitcoin miners: It’s no longer profitable to create the cryptocurrency, by one estimate (CNBC), Rated: A

Bitcoin has dropped to a point where it’s not that profitable to produce, according to some estimates.

Fundstrat’s model incorporates three factors: the cost of equipment, electricity and other overhead such as maintaining cooling facilities.

In fact, the need to regularly replace equipment accounts for more than half the cost of mining, according to Fundstrat’s model, said Sam Doctor, head of quantitative data science. He assumes electricity costs of 6 cents per kilowatt hour and other expenses to arrive at the break-even estimate of $8,038.

Chinese miners also have an incentive to produce bitcoin regardless of cost because it allows them to send money overseas and evade the government’s capital controls. Four out of the five largest bitcoin “mining pools” in the world are Chinese, according to data from Blockchain.

The price at which most miners would really start shutting down their operations is around $3,000 to $4,000 per bitcoin, said Fundstrat’s Doctor.

Meet the Only 2 People in the World Who Have Become Billionaires Off Cryptocurrency (Money), Rated: A

Cryptocurrency has two kingpins. Forbes’ 2018 ranking of the world’s billionaires includes only a couple people who accumulated their vast fortunes from digital assets: Chris Larsen and Changpeng Zhao.

Chris Larsen, a 57-year-old American, is a veteran of the country’s tech industry. The co-founder and former CEO of Ripple, a cryptocurrency and payment network intended for global transactions, previously served as CEO and co-founder of Prosper, a peer-to-peer lending marketplace, and Eloan, an online platform for lending.

That also happens to be true of Changpeng Zhao, aka CZ, 41, CEO of the cryptocurrency exchange Binance, which is on a remarkable hot streak. It became the largest exchange of its type on earth in under 180 days.

Three countries have a higher success rate for Initial Coin Offering (TechBullion), Rated: AAA

If we see the number of ICOs published in the past five months:

  • In October 2017, the number of ICOs published = 279
  • In November 2017, the number of ICOs published = 302
  • In December 2017, the number of ICOs published = 244
  • In January and February 2018, the number of ICOs published are 295 and 477 respectively.

With $ 18.57 trillion GDP, USA is the first on our list.

With 250 successful ICO initial coin offering projects, we have placed Singapore second in our list.

With 146 successful ICO project, Switzerland is another promising land for ICO initial coin offering. Recently Swiss startups planned to invest 100 million Swiss Francs to invest in the ICO initial coin offering, this is the latest sign of Switzerland’s emergence as a crypto power.

Chat App Giant Telegram Bans Sanctioned Individuals, Territories From ICO (CoinTelegraph), Rated: A

Persons on international sanctions lists, their relatives, and those from sanctioned territories are among those barred from Telegram’s closed token sale rounds, local Russian business journal RBC reports today, March 15.

Cardano (ADA) Partnering Up with SIRIN LABS (Global Coin Report), Rated: A

Emurgo and SIRIN LABS had announced in February 2018 that they will partner up with the cryptocurrency Cardano (ADA) to expand the ecosystem of its blockchain.

Digix DAO Price Anomaly Once Again Goes Against Market Tide (cryptovest), Rated: A

The trading of Digix DAO (DGD) on Binance once again revealed an anomaly, as the asset grew while other market prices were sinking. DGD is traded against Bitcoin, and inched up as the 8th most traded asset on Binance. The price has been down from the peaks above $500, but still moved against the markets in the recent sharp slump.

12 Startups Utilizing Blockchain Technology in New Ways (Entrepreneur), Rated: A

  1. Fr8‘s blockchain network facilitates the digitization of record-keeping related to the trade of assets, even in scenarios where intermediaries and brokers are incentivized to resist change. Last year, trucks drove 29 billion empty miles in the U.S. alone.
  2. The internet of Services (IOST) is a new cryptocurrency that is attempting to solve scalability problems. A technological descendant of Ethereum, IOST is a blockchain with the purpose of serving as infrastructure for developers to create decentralized applications.
  3. ImpactPPA is creating the SmartPPA (PPA stands for power purchase agreement), a platform that connects the blockchain community with environmentally concerned and socially impactful projects that fuel the development of sustainable solutions.
  4. ShipChain is a freight and logistics platform built on blockchain. The platform focuses on an end-to-end track and trace, which allows for unification across the entire supply chain, among all carriers.
  5. Nano Vision is empowering global citizens to step up and lend their efforts to furthering disease-prevention research and development.
  6. Inveniam is the first organization to successfully structure and tokenize a debt instrument that is capable of being listed on a public market.
  7. BuzzShow is a platform that incorporates proof of contribution to reward online video users. The platform currently has over 15,000 users.
  8. Patron is a global influencer marketing platform built with blockchain technology.
  9. Photochain is a decentralized stock photography platform built on the blockchain.
  10. ODEM is the world’s first decentralized on-demand education marketplace.
  11. MEvU is a decentralized P2P (peer-to-peer) betting application that allows people to bet on anything, at any time and against anyone.
  12. Boon Tech is an artificial intelligence-powered micro-job platform on blockchain.

Long Blockchain Corp. Agrees to Acquire Hashcove (GlobeNewswire), Rated: B

Long Blockchain Corp. (Nasdaq: LBCC) (“Long Blockchain” or the “Company”) today announced that it has entered into a definitive agreement to acquire Hashcove Limited (“Hashcove”), an early stage UK-based technology company focused on developing and deploying globally scalable distributed ledger technology solutions.

Coinseed ICO: Breakthrough Crypto Investment App Launches Globally (TechBullion), Rated: B

New York based fintech startup Coinseed, announced today that its app which lets users invest their spare change into crypto, launched globally today.

United Kingdom

Blockchain, distributed ledger technology and what’s in a CIO job title with Julie Pierce and Karl Hoods (CIO), Rated: A

Food Standards Agency Director of Openness, Data and Digital, Julie Pierce, and Save the Children CIO Karl Hoods joined CIO UK Editor Edward Qualtrough to discuss blockchain and distributed ledger technology during the third episode of the CIO UK podcast.

Bitcoin mining uses less than 1% of UK electricity supply thanks to ‘Rip Off Britain’ pricing (CoinList), Rated: A

THE UK’S National Grid has confirmed that despite fears, cryptocurrency mining poses little threat to the country’s supply chain.

And that high-tech capitalists making millions from mining are doing so in countries like Iceland because buying energy in Britain costs too much.

This comes despite claims that the currency miners are causing ‘blackouts.’


Cryptocurrency exchange Binance launches new public blockchain — Binance Chain (betanews), Rated: AAA

Just after offering up a bounty to track down the hackers who attacked it, cryptocurrency exchange Binance has announced the launch of a public blockchain.

Binance Chain, as it is known, is the exchange’s vision of the future.

Binance Now Has More Users Than the Population of Hong Kong (Finance Magnates), Rated: A

Hong-Kong based cryptocurrency exchange Binance is growing at an immense pace. According to a monthly report released today by the exchange on its Medium page, Binance now has 7.9 million “total and registered” users.

This figure is mind-blowing on its own, especially when we realize that BInance’s competitors at the crowded top 5 spot of the Coinmarketcap pyramid hold a relatively similar number of users. However, it’s even more astonishing when compared to the population of Hong-Kong. According to a census conducted in February by the Chinese government bureau of statistics, the special autonomous region has 7.4 million residents.

Tencent To Pump $ 2 Billion Into Ripple (XRP) And More Banks Are In (Oracle Times), Rated: AAA

According to sources, Tencent will offer the said $2 Billion dollars and convert them to Ripple (XRP) coins in the next 12 months. The plan is to integrate Ripple technologies on its WeChat and other social media platforms in a bid to compete with Alibaba and Amazon payment services.

Tencent plans to use Ripple’s xVia, that is only limited to corporate, payment providers and banks, as the basic tool on its products accessible to the mass market.

It is such products like xVia, that have banks signing in to test or use Ripple payment settlement services. Over 80 banks and money remitting service providers around the globe have signed up for Ripple services.

Interview with Evgeny Ponomarev, co-founder, and CEO of Fluence (TechBullion), Rated: A

Fluence, a blockchain-based database provider, partners with Friend Software to bring secure data storage and app development to Blockchain. Fluence offers blockchain developers an alternative to traditional cloud service providers, ensuring no sensitive data leaks or hacks; partners with Friend to offer users more tools and resources to build and deploy their apps quickly and at scale. Evgeny Ponomarev, co-founder, and CEO of Fluence will be discussing this project and the partnership in this interview.

European Union

Ethereum Is Throwing Out the Crypto Governance Playbook (CoinDesk), Rated: AAA

But while contentious changes tend to be avoided in bitcoin, ethereum developers have long warned that being too cautionary with code could lead to stagnation.

Colvin laid out his pitch for the Fellowship of Ethereum Magicians, a council that will aim to succeed in developing a unique governance model for ethereum.

French Regulator Blacklists 15 Crypto Investment Websites (CoinDesk), Rated: A

France’s stock market regulator announced on Thursday that it has blacklisted 15 cryptocurrency and crypto-asset investment websites.

Among them is AKJ Crypto, which claims to provide a variety of services ranging from asset storage to account management. Another, Crypteo, is a purported cryptocurrency marketplace.


Ethereum’s First Production Scaling Project Is Here – But With a Catch (CoinDesk), Rated: AAA

Called Loom Network, the little-known company is today releasing a developer toolkit that makes it possible to deploy scalable ethereum apps on the second-largest cryptocurrency network, effectively leapfrogging ongoing efforts such as Raiden Networkand Plasma.

Payza Integrates Dash Using BlockCypher (PaymentsJournal), Rated: A

Dash, the top digital currency for payments, today announced an integration and partnership with Payza, an award-winning international online payment provider, reaching over 13 million users in 190 countries. The partnership allows users to send and receive Dash to and from other Payza users, spend it at 100,000 e-commerce retailers, and exchange Dash to 25 different fiat currencies or Bitcoin.

Crypto Investment Firm Violates Securities Laws, Warns Philippines (CoinDesk), Rated: A

The Philippines Securities and Exchange Commission (SEC) has issued a warning over a cryptocurrency investment platform that it alleges is offering unregistered securities.

Latin America

Brazilian Officials Caught Using Bitcoin in $ 22 Million Scam (CoinDesk), Rated: A

Police officials in Rio de Janerio have uncovered a money laundering scheme in which state officials siphoned off money intended for prison supplies, using bitcoin to exchange some of the proceeds.

The scam involved misstating the budget spent on food for state-run prisons, ultimately diverting funds worth $22.4 million – though only a small portion of the total was converted into bitcoin.


Royal Bank of Canada Explores Blockchain to Automate Credit Scores (CoinDesk), Rated: AAA

The Royal Bank of Canada may be interested in putting credit scores on a blockchain.

In a patent application released Thursday, the bank outlines a platform built on a blockchain that would automatically generate credit ratings using a borrower’s historical and predictive data. The application as described proposes a system that would utilize more data sources than existing credit rating systems, improving the loan process while creating an immutable record.

Digital Currency Mining Farms and the Major Canadian Players (Coinsquare), Rated: A

Digital currency mining continues to cement itself as an industry of its own, accounting for millions of dollars in revenue each year. With many large digital currency mining companies now operating in Canada, both investors and pioneers are left to consider the role of the country’s mining farms in the ‘bigger picture’ of the digital currency industry.


Having recently launched on the TSX Venture Exchange (TSXV), Hut 8 now claims to be the world’s largest publicly traded digital currency mining company. Based in Toronto, it receives supporting proprietary hardware, software, and operational guidance through an exclusive partnership with international blockchain company, Bitfury.


Another major player in Canada’s current currency mining landscape is Backbone Hosting Solutions, also known as Bitfarms. The Montreal-based company owns and operates mining farms across Canada, for the networks of various digital currencies.

In December 2017, Israeli company Natural Resources Holdings announced it was acquiring a 75% stake in Bitfarms. According to Bloomberg, the move skyrocketed the stock value of the Israeli firm by nearly 160%. However, the merger is still in progress.


Vancouver-based HIVE Blockchain Technologies was one of the first publicly traded stocks to provide exposure to digital currency mining. HIVE is now one of Canada’s major players in the digital currency space, and originally began as a gold mining company.


George Popescu
George Popescu
Allen Taylor
Allen Taylor

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