NEW YORK, July 9, 2018 /PRNewswire/ --
According to a report published by Coherent Market Insights, the cryptocurrency mining market was valued at USD 610.91 Million in 2016 and is expected to reach USD 38.38 Billion by 2025,
while growing at a compound annual growth rate of 29.7% during the forecast period. The availability of low-cost solutions as
well as the favorable environment for mining operations are vital driving factors for the growth of the cryptocurrency mining
market. China and the U.S. dominated the cryptocurrency mining industry in 2016, accounting for
over 70% of the market shares. Among the mining types, the cloud mining and remote hosting services segments held the largest
market share in 2016. Chineseinvestors.com, Inc. (OTC: CIIX), Marathon Patent Group Inc. (NASDAQ: MARA), MGT Capital
Investments Inc. (OTC: MGTI), GAIN Capital Holdings Inc. (NYSE: GCAP), DPW Holdings Inc. (NYSE: DPW)
The adoption of cryptocurrency continues to grow. Recently, LINE Corporation and LVC Corporation had announced that they plan
to launch a global cryptocurrency exchange called BITBOX in July 2018. The cryptocurrency exchange
will be operated as part of LINE's financial services business. Additionally, on Wednesday, The Sacramento Kings, an NBA
franchise, announced a partnership with global cryptocurrency leader, MiningStore.Com, to mine digital currency in the only Tier
4 data center in the professional sports arena. MiningStore Founder, John-Paul Baric, said, "The Sacramento Kings are pioneers in
exploring cryptocurrency and its potential impact."
Chineseinvestors.com Inc. (OTCQB: CIIX) just earlier today announced breaking news that, "it has retained the law
firm of CKR Law, LLP to assist it with setting up its own Bitcoin ATM network in California,
with the first Machines to be placed in Chinese Communities in the Los Angeles area. Once this
network is established in California, the Company plans to expand to serve other Chinese
Communities throughout the United States.
Since first entering into the Bitcoin ATM market through a successful shared Hosting Agreement in 2017, the Company recognizes
the opportunity to increase its margins on the Bitcoin ATM business by operating its own Bitcoin ATM network.
"With the regulatory world changing in the cryptocurrency sector, we feel that it is important to retain legal counsel with a
proven track record in this industry to assist us in setting up our own Bitcoin ATM network and eventually expanding it to cover
other Chinese Communities in the United States," says CEO Warren
Wang. "In addition to continuing to provide investors with news about digital currency, ChineseInvestors.com, Inc. looks
forward to continuing to make it convenient and easy for Chinese Investors to purchase Bitcoin by providing access to on site
customer service representatives available to provide instruction regarding the Bitcoin ATM in both Chinese and English."
Marathon Patent Group Inc. (NASDAQ: MARA) is an IP licensing company. Following the acquisition of GBV, the combined
company will focus on the development of GBV's new business involving the blockchain ecosystem and generation of digital assets.
Marathon currently operates one mining facility in Quebec, with plans to open additional
facilities in the future. Last month, the Company announced that it has determined not to extend the second amended extension
date for closing of the Company's proposed merger with Global Bit Ventures, Inc. ("GBV") beyond June 28,
2018, the current expiration date.
MGT Capital Investments Inc. (OTCQB: MGTI) ranks as one of the largest U.S. based Bitcoin miners. On June 7, 2018, the Company announced that it has received net proceeds of USD 3.7
Million in debt financing as it moves to expand its Bitcoin mining operations. Notwithstanding recent increases in the
Bitcoin mining Difficulty Rate and the flat price action of Bitcoin itself, the Company believes the opportunity to make
strategic large-scale purchases of Bitmain Antminers, will provide MGT with very attractive cash on cash returns. Stephen Schaeffer, President of MGT Crypto Strategies, explained, "Mining economics are subject to lean and
flush periods, but over the long run, efficient and forward-thinking miners are rewarded. Being well-capitalized puts MGT in a
commanding position while negotiating deals for hosting sites and hardware."
GAIN Capital Holdings Inc. (NYSE: GCAP) provides innovative trading technology and execution services to retail and
institutional investors worldwide. In April, the Company announced the continued rollout of the Company's cryptocurrency
offering, with the recent launch of Ethereum, Litecoin, Ripple and Bitcoin Cash in the U.K., Europe, Australia and Singapore on the
Company's FOREX.com and City Index services. GAIN has also expanded its Bitcoin offering, allowing customers to trade Bitcoin
directly against the Euro (BTC/EUR), British pound (BTC/GBP) and Australian dollar (BTC/AUD), in addition to the U.S. dollar.
GAIN offers cryptocurrency trading either as an over-the-counter (OTC) derivative or as a future, allowing traders to speculate
on price movements without owning the underlying asset. The launch of the additional cryptocurrencies follows the initial
introduction of Bitcoin trading in the U.K. and Europe in December
2017 across the Company's City Index and FOREX.com services, and in Australia and
Singapore in January 2018.
DPW Holdings Inc. (NYSE: DPW) is a diversified holding company. On June 18, 2018, the
Company announced that Coolisys Technologies, Inc. is launching a new line of crypto-mining units, the "SuperMiner," with the
first miner model called the "AntEater." The AntEater features the 10-nanometer mining chipset jointly developed by
Samsung/Innosilicon, which has been integrated with Coolisys' highly-efficient power system. The AntEater is an ASIC Bitcoin
crypto-miner designed to operate faster while emitting less heat than any other similarly dedicated miner currently available.
Innosilicon and Coolisys are both ISO 9000 certified companies, providing consumers comfort knowing that both companies have met
mandated quality and production standards for their respective products and services. Each AntEater has a 1-year service warranty
supported by Coolisys' new service center located in Fremont, CA.
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