TMCnet News

Dogecoin and Other Cryptocurrencies Drawing More Interest, Sparking Innovative Acquisition Methods
[October 05, 2021]

Dogecoin and Other Cryptocurrencies Drawing More Interest, Sparking Innovative Acquisition Methods


FN Media Group Presents USA News Group News Commentary

VANCOUVER, BC, Oct. 5, 2021 /PRNewswire/ -- USA News Group  -  Increasing attention is being given to cryptocurrencies, especially the former meme to major cryptocurrency Dogecoin—which some project could plausibly head towards $1 trillion in value. For those undeterred by the sentiments of US politicians such as Sen. Elizabeth Warren who called cryptocurrencies the "new Wild West", new ways to acquire digital coinage like DOGE are being developed. These include the efforts of Canadian Prime Minister Justin Trudeau's sibling Kyle Kemper, as well as a farmer using 'cow poop' to run a cryptocurrency mining firm. However, there are still plenty of traditional ways to harvest Dogecoin and others through mining operations such as those from Hello Pal International Inc. (CSE:HP) (OTCQB:HLLPF), CleanSpark, Inc. (NASDAQ:CLSK) and SOS Limited (NYSE:SOS), or going solo and utilizing hardware from Apple Inc. (NASDAQ:AAPL) and Advanced Micro Devices, Inc. (NASDAQ:AMD).

"Dogecoin, often referred to as "the people's coin", is being rapidly accepted and adopted internationally," said KL Wong , Founder and Chief Executive Officer of Hello Pal International Inc. (CSE:HP) (OTC:HLLPF). "We anticipate gains to our userbase and livestreaming services from the integration of Dogecoin."

Wong's Hello Pal is not only one of the world's fastest growing live-streaming platforms, but it's now the first listed company with primary exposure to Dogecoin.

Users of the platform are specifically gaining access to mining operations that accumulate Dogecoin and Litecoin (LTC), thanks to a recently finalized acquisition of a 51% interest (with an option to acquire 100% interest) in crypto-miners Crypto Pal Technology Ltd.

The acquisition comes complete with access to 12,500 mining rigs. These mining assets provide a combined hash rate of 6.25 TH/s, amounting to 2.1% of the entire current LTC network hash rate. In an effort to better secure their assets, these mining operations are hosted across multiple locations, ensuring diversification of risk against potential factors that may adversely affect cryptocurrency mining.

"By acquiring Crypto Pal at a minimal price, we are able to focus our strong cash position to implement our vision for Hello Pal's suite of complementary apps as well as carry out strategic acquisitions," said Wong after the acquisition was finalized. "We are also ecstatic that our choice of cryptocurrencies to mine seems to have been validated especially by the recent incredible surge in market interest and activity of Dogecoin."

Combined with its live-streaming business model, Hello Pal reported its sixth successive month of revenue above C$2 million, with a C$2.583 million month in May.

Now with the Crypto Pal acquisition finalized, Hello Pal anticipates a significant increase in revenue for the balance of the year. To make things easier to assess, on a going forward basis, Hello Pal will announce revenue separately for livestreaming services and crypto currency mining operations.

Hello Pal's original crytpo mining initiative back in February was stated to including access to mining Bitcoin (BTC) and Ethereum (ETH)—through access to crypto mining machines.

However, after their direction shifted mostly to DOGE and LTC, the announced move triggered a server overload causing a temporary outage.

"The sharp increase in activity on our website and the Hello Pal app validates the clear position we have taken on Dogecoin as well as on cryptocurrency in general," said Wong. The company website was swiftlyback online, but the surge signaled the potential for the DOGE interest to come.



Their timing was beneficial, given the shift of public sentiment towards the world's most prominent digital currency, Bitcoin.

One of the biggest complaints leveled at Bitcoin in particular, is its environmental impact. Huge amounts of power is used in the generation of this digital currency, sparking former advocates of it such as Elon Musk who dropped it cold earlier this year, in favour of Dogecoin.


In a way, answering those complains is environmentally conscious cryptominer CleanSpark, Inc. (NASDAQ:CLSK). In order to offset some of the demands of such a large scale crypto operation, CleanSpark announced in May that it would be working with a Swiss company called FlowGen for advanced wind turbine solutions throughout North and South America.

"The profitability from our Bitcoin division continues to enable us to advance forward additional renewable energy sources to further improve the value of renewable energy solutions," said Zach Bradford, CleanSpark's Chief Executive Officer. "Driving renewable energy technology advancement and adoption is key to our continued growth, and the results of these efforts are expected to positively impact all of our business units."

CleanSpark had ramped up its capabilities just a month prior in April, signing contracts to purchase 22,680 bitcoin mining machines to meet "immediate needs" and increase production capacity.

Chinese cryptomining competitors SOS Limited (NYSE:SOS) also ramped up their mining rig capabilities, launching over 6,000 rigs back in May, including a batch of 575 Ethereum (ETH) mining rigs, and another batch of 5,464 rigs from the third and final installation of a previous rig purchase in April.

According to the company, SOS currently gets over 90% of its energy for mining operations from renewable sources.

Across all mining fleet operations, SOS' total capacity is currently expected to generate approximately 527PH/s for mining BTC and 1,456GH/s for mining ETH.

For others looking to do their own solo operations, someone cracked the latest chip from Apple Inc. (NASDAQ:AAPL) to let its hardware participate in crypto mining operations. In February, a third party announced that Apple's M1 MacBook Air is now unlocked for crypto-currency mining.

Due to Apple's hardware's notoriously closed nature, many enthusiasts worked diligently to unlock and crack this chip. Allegedly, software developer Yifan Gu (Gu Yifan) found a way to mine Ethereum on M1 MacBook Air and open source it on GitHub.

In March, GPU manufacturers Advanced Micro Devices, Inc. (NASDAQ:AMD) was reportedly looking to release their own cryptocurrency mining-specific GPUs—which were previously used exclusively for Apple products.

A recent set of fixes communicated that their graphics cards will be repurposed for cryptocurrency mining. It's very clear that AMD doesn't mind if you use their gaming GPUs to mine ehtereum.

For more info, please visit: https://usanewsgroup.com/2020/11/16/live-streaming-is-taking-the-market-by-storm

Article Source: 

USA News Group
http://USAnewsgroup.com
info@usanewsgroup.com

DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). MIQ has been paid a fee for Hello Pal International Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares of Hello Pal International Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Hello Pal International Inc. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Hello Pal International Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

USA News Group is Source of all content listed above.  FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with USA News Group or any company mentioned herein.  The commentary, views and opinions expressed in this release by USA News Group are solely those of USA News Group and are not shared by and do not reflect in any manner the views or opinions of FNM.  FNM is not liable for any investment decisions by its readers or subscribers.  FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM was not compensated by any public company mentioned herein to disseminate this press release.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Media Contact Information:
FN Media Group, LLC
Media Contact e-mail:  
editor@financialnewsmedia.com 
U.S. Phone: +1(954)345-0611


[ Back To TMCnet.com's Homepage ]