Blockchain Tech Appears in a Myriad of Financial Applications

NEW YORK, Sept. 10, 2021 /PRNewswire/ -- Blockchain, the technology behind the cryptocurrency craze, is becoming more and more popular thanks to its potential to optimize operations in various fields of business. It is a type of distributed ledger system, providing enhanced security to the real time digital economic process, and is comprised of blocks of digitally recorded data. Generally, the blockchain market is segregated based on "type" such as Payments, Exchanges, Smart Contracts, Documentation, Digital Identity, Supply Chain Management, and GRC Management. Applications built with this technology are utilized in governmental agencies, the healthcare industry, as well as in media, retail, hospitality and energy sectors, amongst others. Overall, the global blockchain market is expected to grow by USD 15.1 Billion by 2024, and at a CAGR of 69.3% according to Market Research Engine. TD Holdings, Inc. (NASDAQ: GLG), Riot Blockchain, Inc. (NASDAQ: RIOT), HIVE Blockchain Technologies Ltd. (NASDAQ: HVBT), SOS Limited (NYSE: SOS), CleanSpark, Inc. (NASDAQ: CLSK)

Business and major corporations have become much more open to investing in blockchain. Just this week, Mastercard announced that it has agreed to acquire the blockchain analytics start-up CipherTrace, in the latest sign of how major companies are warming to the technology. "Digital assets have the potential to reimagine commerce, from everyday acts like paying and getting paid to transforming economies, making them more inclusive and efficient," said Ajay Bhalla, President, Cyber & Intelligence at Mastercard. "With the rapid growth of the digital asset ecosystem comes the need to ensure it is trusted and safe. Our aim is to build upon the complementary capabilities of Mastercard and CipherTrace to do just this."

TD Holdings, Inc. (NASDAQ: GLG) just announced breaking news that, "the Company has entered into a strategic cooperation framework agreement (the "Agreement") with Guangzhou Wensheng Blockchain Technology Co., Ltd. ("GWBT"), a high-tech company focusing on "blockchain+" application solutions to apply blockchain technology in the supply chain financing and development of cloud based warehouse.

Pursuant to the Agreement dated September 8, 2021, both parties agree to share blockchain technology related information and jointly apply blockchain technology in the supply chain financing and digital cloud warehouse business. GWBT agrees to support the Company in building and improving its digital cloud warehouse logistics platform and optimizing the settlement and payment system for commodities trading. GWBT also agrees to provide the Company with technical equipment and consulting services regarding tracing and financing of supply chain. The parties plan to enter into definitive agreement with details of the cooperation in the future.

Ms. Renmei Ouyang, the Chief Executive Officer of the Company, commented, 'We are excited to become a strategic partner of GBWT. Leveraging the respective advantages of GBWT's blockchain technology and the Company's access to U.S. capital market as a U.S. listed company, we believe the alliance will further enhance our existing platform and business. With the tremendous market potential of blockchain in the supply chain financing and digital cloud warehouse business, we look forward to working with GBWT on this important initiative.'"

Riot Blockchain, Inc. (NASDAQ: RIOT) announced earlier in June its May production and operational updates, including its unaudited Bitcoin ("BTC") production for May 2021 and its latest miner delivery status. The Company plans to continue to provide monthly operational updates and unaudited production results through the end of 2021. These updates are intended to keep shareholders informed of Riot's mining production as it continues to deploy its expanding miner fleet. On May 26th, 2021, Riot announced it completed its previously announced acquisition of Whinstone U.S. ("Whinstone"). Whinstone's Bitcoin mining facility in Rockdale, TX is the largest Bitcoin mining facility in North America, as measured by its 300 MW in developed capacity. The Company announced its plans to immediately commence further development of additional capacity at Whinstone in order to rapidly bring the property to its current capacity of 750 MW. This expansion will be driven by Whinstone's industry leading development team of over 100 employees.

HIVE Blockchain Technologies Ltd. (NASDAQ: HVBT) reported last month that it has ordered 1,800 Antminer S19j Pro miners from Bitmain Technologies Ltd. ("Bitmain"). These new miners have an aggregate hash power of 180 Petahash per second (PH/s). HIVE is proud to reconnect with Bitmain one of the leading manufacturers in our industry and is excited to make this initial order of S19j Pro miners from Bitmain. These 1,800 miners are the first of our 2022 mining purchase program and will be delivered in 6 equal tranches of 300 miners, commencing in January 2022 through June 2022. "We are constantly upgrading our ASIC fleet to have the most efficient miners we can buy from cash flow," Frank Holmes, Executive Chairman of HIVE continued, "This purchase with Bitmain enables us to maintain our strategy to diversify the manufacturers we purchase from. Over the past year, we have been expressing our concerns about global shortages in chips and logistics delays in shipping equipment from Asia due to Covid 19. We have deep relationships Bitmain, MicroBT, and Canaan which are all top global manufacturers in our industry."

SOS Limited (NYSE: SOS) reported back in June that it has entered into a joint venture agreement with Niagara Development LLC ("Niagara Development"), a New Jersey limited liability company, for a joint venture to be based in Niagara, Wisconsin. The joint venture, FD LLC, is expected to carry out crypto-currency mining operations and construct an international standardized Digital Super Computing Custody Operation Center. Under terms of the agreement, Niagara Development will be responsible for providing up to 150MW of electricity, including electricity generated from renewable sources, and construction the Digital Super Computing Custody Operation Center. SOS will be responsible for the management, operations and financing of the joint venture. SOS remains committed to its block-chain strategy and strive to become a sustainability leader in the industry.

CleanSpark, Inc. (NASDAQ: CLSK) announced back in June that it is set to join the Russell 2000® Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the U.S. market opens on June 28th. The Russell 2000 is a benchmark stock index comprised of 2,000 publicly-traded small-capitalization companies. The Company also recently appointed industry veteran Bernardo Schucman as the Senior Vice President of its Atlanta-based Bitcoin mining center. CleanSpark President and CEO Zachary Bradford says, "Bernardo has been consulting with the Company since we purchased ATL Data Centers. We are thrilled to officially welcome him and his wealth of experience to lead our Atlanta mining team as we continue to grow rapidly, profitably and as efficiently as possible. CleanSpark succeeded in its bid to purchase ATL last December because of CleanSpark's proven track record in energy, which is the backbone of cryptocurrency mining. We also shared a common belief with Bernardo on the importance of renewable and carbon free energy sources to support the future of the blockchain. Bernardo's impressive background and industry expertise will be an asset to the Company."

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