NEW YORK, November 17, 2017 /PRNewswire/ --
Bitcoin price continued its rally on Thursday after the news that Square's cash app is testing the feature that
allows some people to buy and sell bitcoin. According to data from industry website Coindesk, the price of bitcoin rose another 6
percent to $7742.32 during Thursday trading session, after a more than 10 percent
jump on Wednesday. Square shares also jumped to an all-time high after the news. Bitcoin, the world's most popular
cryptocurrency, now has a market capitalization of nearly 130 billion, accounting about 57 percent of the total cryptocurrency
market cap. Global Payout, Inc. (OTC: GOHE), MGT Capital Investments Inc. (OTC: MGTI), BTCS Inc. (OTC: BTCS), Bitcoin
Services, Inc. (OTC: BTSC), HIVE Blockchain Technologies Ltd. (OTC: PRELF).
According to CNBC, a Square spokesperson said via email: "We're exploring how Square can make this experience faster and
easier, and have rolled out this feature to a small number of Cash app customers. We believe cryptocurrency can greatly impact
the ability of individuals to participate in the global financial system and we're excited to learn more here." Credit Suisse
analysts Paul Condra and Mrinalini Bhutoria wrote on
Wednesday: "We believe it could place SQ in an early-mover position as a mainstream fin-tech company providing crypto-currency
services."
Global Payout, Inc. (OTC: GOHE) announced yesterday that its majority owned subsidiary, MoneyTrac Technology, Inc.
("MTRAC", the "Company") continues to make significant headway with Pegasus Fintech, Inc. on their collaboration in the
development of a cryptocurrency token for the cannabis industry.
Last month, MTRAC announced the establishment of a strategic partnership with Pegasus Fintech, Inc., an innovative Blockchain
and Token Accelerator company that is focused on delivering solutions in the financial services, technology blockchain, and
emerging cryptocurrency market sectors. In recent weeks, MTRAC and Pegasus, along with additional companies they are currently
working in collaboration with, have been working on the development of a token that will be aimed at revolutionizing the
financial process that currently exists within the cannabis industry.
Coupled with blockchain technology, the token will not only provide businesses that are operating in the emerging cannabis
industry with the most effective option for transaction processing, but will also create a level of effective transparency in an
industry where the ability to track transactions from seed-to-sale is critical from a compliance perspective.
"Our vision is to create a fully intuitive financial network that interlocks the entire cannabis supply chain from
seed-to-sale," said MTRAC COO, Vanessa Luna. "This token will do far more than just optimize the
way businesses and consumers are able to process and complete basic transactions, but will create the kind of transparency that
will deliver consumer safety and ensure regulatory requirements across a rapidly growing industry by making it possible to track
every transaction from start to finish," Ms. Luna commented further.
MGT Capital Investments Inc. (OTCQB: MGTI) recently reported with the Securities and Exchange Commission for the period
ended September 30, 2017. Revenues from Bitcoin mining were $515,000, up 33% sequentially over
the second quarter of this year. "As with any periodic filing, quarter-end numbers are already stale," stated Robert Ladd,
President and CEO of MGT. "Stockholders need to know where we stand today, and I am very happy to share that information. October
revenues came in at approximately $400,000 with 865 mining rigs in operation. While power availability (in large part
caused by unprecedented demand from the emergent Ethereum market) has delayed our deployment, we have sourced sufficient power to
accommodate the 170 rigs not yet deployed, as well as the 3,650 rigs to be delivered over the next several weeks."
BTCS Inc. (OTCQB: BTCS) announced recently that it has closed on the remaining balance of its previously announced
financing, which was co-led by Blockchain Global Ltd. ("BGL"). The Company received a total of $1.1
million from the sale of its Series C -1 Convertible Preferred Stock (the "C-1") and Warrants. On October 10, 2017, the Company closed on the initial $100,000 of a $1 million minimum financing which included $250,000 in bitcoin paid directly to
BTCS and $750,000 in cash. "We've now secured the necessary funds to settle all of our debt,
excluding derivative liabilities, a key step in moving forward with our planned merger with BGL," stated Charles Allen, CEO of BTCS. "With the filing of Form 10-Q and other key BTCS merger conditions now met from
the C-1 financing, we're well-positioned to execute on what we believe will be a transformational milestone for our
companies."
Bitcoin Services, Inc. (OTC: BTSC) offers services related to cryptocurrency and bitcoin, such as Bitcoin Mining and
Blockchain Software Development. "Bitcoin mining serves to both add transactions to the block chain and to release new Bitcoin.
The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. The
first participant who solves the puzzle gets to place the next block on the block chain and claim the rewards," according to the
company's website.
HIVE Blockchain Technologies Ltd. (OTC: PRELF) recently announced has entered into a legally binding letter agreement
dated October 23, 2017 with its largest shareholder Genesis Mining Ltd. under which the Company
will finance the construction of a cryptocurrency mining data Centre in Sweden. Harry Pokrandt, CEO and President of HIVE
stated, "With the help of Genesis, Sweden represents the next stage of growth for HIVE as we
continue to build our portfolio of mining facilities. HIVE is acquiring a facility in a politically stable country with access to
excellent infrastructure and complements our existing facilities in Iceland. We will continue to
evaluate other opportunities to ensure we provide our shareholders the best exposure to the blockchain and cryptocurrency."
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