Crypto stocks gain ground as Bitcoin rises

According to Research and Markets, the global cryptocurrency market was valued at $1.78 trillion in 2021. The market is expected to reach $32.42 trillion by 2027, at a compound annual growth rate of 58.4 % over the period.

CAGRs of almost 60% are extremely rare, which is why former holdouts such as billionaire investors Steve Cohen, Warren Buffett and George Soros, who were once against cryptocurrencies, are slowly preparing for it.

This growing market will boost stocks in the sector, and there are a few, in particular, to watch closely.

Hemp Generation Inc. GENH for example, is starting a joint venture to create Bitcoin mining facilities fueled by its hemp biomass feedstock. The first 2 MW plant alone could produce up to $4.15 million in annual revenue at today’s BTC prices. GENH will retain an 85% stake in the JV. “This will be a great learning experience for us as we plan much larger projects in the southeastern United States,” commented CEO Gary C. Evans.

GENH will provide the energy source for this first project which will eventually combine hemp-based biofuel and solar, supported by the grid. The company is now striving to earn Renewable Energy Credits (RECs), these are essentially credits created for every 1 MWh of clean electricity created. Companies that own them can either keep them or resell them. While GENH will likely retain them initially for this JV, there may be a time in the future when they only sell clean energy to other operations.

The House’s Energy and Commerce Oversight Committee is on the trail of crypto mining, and legislation may be coming soon. Consider the energy required for a single Bitcoin transaction that could power a home for over 70 days.

‘Shark Tank’ star Kevin O’Leary predicts regulation in 2022. For institutions to get involved, they need an ESG-friendly bitcoin mining option, and to distinguish between the two with Clean Vs. Dirty Parts.

GENH will create “clean” pieces. Eventually, they may be added to some of the Green Crypto ETFs such as Valkyrie’s new Bitcoin Mining ETF (WGMI).

Asia Broadband Inc. AABB The stock was one of the notable volume drivers in the previous trading session, with the stock dropping 21.03% to $0.1199 with over 48.97 million shares traded, compared to to its average volume of 26.149 million shares. Over the past 52 weeks, the stock has moved in a range of $0.0000 to 0.0040.

the Company launched its AABB Exchange applications (the “Exchange”) and they are now available on mobile devices through the AABB Wallet application. Wallet users can place buy and sell orders on their smart phones to execute cryptocurrency trades for a growing number of trading pairs available on the Exchange platform.

xunlei limited XNET the stock was in action in the previous trading session, with the stock gaining 3.50% to $1.78 with more than 359,000 shares traded, compared to its average volume of 267,000 shares.

Total revenue was $71.1 million in the fourth quarter, an increase of 18.6% over the prior quarter. Subscription revenue was $23.7 million, representing a 4.3% increase over the prior quarter. Gross profit was US$33.3 million, an increase of 13.3% over the prior quarter, and gross profit margin was 46.7% in the fourth quarter, compared to 48 .9% in the previous quarter. Net loss was US$0.5 million in the fourth quarter, compared to a net loss of US$5.1 million in the prior quarter.

KYN Capital Group Inc. KYNC On Friday, the stock continued its trend in a range. On Friday, the stock rose 9% to $0.0037 with more than 83.96 million shares traded, compared to its average volume of 70.01 million shares.

The company has announced the long-awaited Koinfold™ debit card and expects enrollment to begin next month. Additionally, KYN Capital Group will release Q1 2022 earnings on behalf of its Pay.How beta and progress on the acquisition of BW Property Management and its entire suite of tools.

MGT Capital Investments Inc. MGTI the stock was in action in the previous trading session, with the stock climbing 36.11% to $0.0245 with over 13.85 million shares traded, compared to its average volume of 4, 04 million shares.

MGT Capital Investments, Inc., a cryptocurrency mining company, mines and sells bitcoins. The company was incorporated in 1977 and is based in Raleigh, North Carolina.

One World Universe Inc. OWUV the stock was in action in the previous trading session, with the stock rising 2.63% to $0.0839 with over 1.60 million shares traded, compared to its average volume of 3, 27 million shares.

The company has partnered with Friends with Business Inc. to help new businesses register their business and provide one-stop shopping for business services.

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