Sarama Resources (SRR:AU) has announced Sarama Completes Tranche 2 Options Placement
Download the PDF here.
This post appeared first on investingnews.com
There’s been a great deal of speculation surrounding a potential Starlink initial public offering (IPO), and the idea of an impending Starlink stock release date has investors excited.
Elon Musk’s satellite internet business been referred to by many as the future of global connectivity, offering low latency and high speed in even the most remote locations. The company controls roughly 7,000 satellites and recently surpassed over 4 million subscribers.
One reason for this interest is Musk’s reputation in the investment space, as he has been involved in multiple highly successful and high-profile tech companies. Starlink itself is an offshoot of one of his other companies, SpaceX.
Even without Musk’s involvement, Starlink has immense market potential. A lack of connectivity is one of the most significant bugbears facing the proliferation of technology like autonomous vehicles and the internet of things. By removing this restriction, Starlink could cultivate a flood of invention and innovation and allow edge computing to thrive.
The company’s satellites have been deployed in countries around the world in recent years. In June 2023, parent company SpaceX was awarded a contract by the Pentagon in the US to provide internet terminals for use in Ukraine. A few months later, following the launch of its war on Hamas, Israel entered into talks with SpaceX to secure the use of Starlink satellites as a backup communications system.
Additionally, the company launched a US$90 million deal with Mexico in November 2023 to provide free internet to remote regions, and Telstra Group (ASX:TLS,OTC Pink:TTRAF) became one of the first service providers to offer Starlink connectivity to rural Australians in July of that year.
More recently, the company has been making significant inroads into African countries, including Zimbabwe, Niger, Liberia, and Musk’s native country of South Africa.
In September 2024, Starlink inked a contract with United Airlines to provide in-flight wifi. A few months later, Starlink secured a deal with the Canadian province of Ontario to bring high-speed satellite internet access to homes and businesses in rural, remote and northern communities beginning in June 2025.
Will Starlink go public? Although a Starlink IPO has yet to be officially announced, there has been a great deal of speculation, and some experts have suggested that the occasion may be closer than many realize. That speculation has increased with US President Donald Trump’s return to the White House, and the possibility of more lucrative contracts for the satellite technology company. With that in mind, those considering a Starlink investment must ensure they understand the company and its technology as soon as possible.
In this article
What is satellite internet?
A satellite internet connection transmits and receives data via a network of near-Earth satellites. Though this technology isn’t new, it has evolved considerably over the past several years. At the time of its inception, it was generally only used by subscribers in remote areas who had few other options for connectivity.
The history of satellite internet traces back to 1962, with the world’s first commercial communication satellite. Known as Telstar 1, the satellite was launched by NASA in response to Russia’s successful launch of the satellite Sputnik 1. It had a short life, however; Telstar launched one day after high-altitude nuclear weapons testing, and radiation from the tests damaged electronics on the satellite. It was only operational for seven months before it was rendered inoperable.
Interestingly, the idea of transmitting information via satellite wasn’t new at the time of Telstar’s launch. Decades earlier, astronautics theorist Herman Potočnik first proposed the concept of geostationary orbital satellites in his 1929 book ‘Das Problem der Befahrung des Weltraums: der Raketen-Motor,’ which translates to ‘The Problem with Space Travel: the Rocket Motor.’ Renowned futurist Arthur C. Clarke would later cite Potočnik’s work in a 1945 paper envisioning satellite communication.
The first real use of satellite internet would not occur until the late 20th century via the Teledisc project, funded by Microsoft (NASDAQ:MSFT). First proposed in 1994, Teledisc planned to establish a network of low-orbit broadband satellites. Unfortunately, the project was rendered defunct in 2002 shortly after the failure of two similar ventures, Iridium and Globalstar.
One year later, in 2003, French satellite operator Eutelsat became the first company in the world to launch a successful satellite internet project. Since then, multiple service providers and telecommunications companies have dabbled in satellite connectivity. However, it has largely lagged behind its technological peers, primarily only seeing use in particularly isolated regions.
To explain why, we need to first explain the different types of internet. The two most common are land-based connections and cellular or mobile connections.
Landline internet uses telephone lines, coaxial cables or dedicated fiber-optic cables to send and receive data from a modem or router. This device then serves as an access point, allowing everything from computers to smart home appliances to connect to the internet. Mobile internet, meanwhile, leverages nearby cell phone towers to beam data directly to and from connected devices.
Traditional satellite internet is something of a fusion between mobile and landline, albeit over a vastly larger distance. It leverages a satellite dish connected to two modems. One modem is used for sending data and the other for receiving.
Historically, speed and capacity represent the two most significant drawbacks to satellite internet. Most satellite internet service providers only support speeds between 25 and 300 megabits per second (mbps). By contrast, landline fiber internet is capable of speeds up to 5 gigabits per second (gbps). Satellite internet also tends to be far costlier than a comparable landline connection, with higher latency and lower caps on data usage. It may also suffer from issues with reliability. Lastly, satellite internet may suffer from interference due to factors such as terrain or canopy coverage.
That brings us around to what makes Starlink exciting. Although not yet competitive with landline internet in terms of cost, the company offers considerably higher data caps and speeds than any other provider on the market — up to 500 mbps with a 1 terabyte cap. Starlink’s low-orbit satellites are also less vulnerable to geographic interference while offering more consistent and reliable coverage.
Does Starlink have an IPO date?
At the time of this writing, Starlink is not publicly traded, and there is no concrete date for a Starlink IPO. Hints of a possible Starlink IPO originally came from several tweets made by Musk in 2021.
‘Once we can predict cash flow reasonably well, Starlink will IPO,’ he explained at the time. ‘(It will be) at least a few years before Starlink revenue is reasonably predictable. Going public sooner than that would be very painful.’
Musk added later that year that Starlink’s parent company SpaceX ‘needs to pass through a deep chasm of negative cashflow over the next year or so to make Starlink financially viable.’
At the time, Musk said a Starlink IPO wasn’t likely until at least 2025 or later.
It’s no surprise then that market watchers’ eyebrows rose when listening to SpaceX President and Chief Operating Officer Gwynne Shotwell speak at the February 2023 Commercial Space Transportation Conference. While discussing a planned testing milestone for SpaceX’s rockets, Shotwell claimed that 2023 was the year Starlink would make money.
She added that the company had a cashflow-positive quarter in 2022. There was also SpaceX’s reported revenue for 2022 — just over US$3.3 billion, US$1 billion of which originated from Starlink.
In early November 2023, Musk reported that Starlink had once again “achieved breakeven cashflow.’
Shortly after, an anonymous source told Bloomberg that a Starlink IPO could be on the table for 2024. But Musk quickly fired back in a post on X that the report was “false.”
It seems fairly clear based on Musk’s comments that we shouldn’t expect a Starlink IPO anytime soon. So why is there so much speculation that one is just around the corner?
Well, for one thing Starlink sales dominated SpaceX’s 2023 revenues, meaning the company made more money as an internet provider than as a space rocket company. Starlink revenues topped a massive US$4.2 billion that year, compared to US$3.5 billion for the firm’s core rocket launch business.
Of course, these figures should be taken with a very large grain of salt. As is too often the case in technology investing, there is no shortage of hype surrounding Starlink, much of it drummed up by Musk himself. An April 2024 BNN Bloomberg article points out that even with all that revenue, Starlink “is still burning through more cash than it brings in.” Based on anonymous inside sources, Starlink accounting is “more of an art than a science.’
Even if those numbers are inflated, the company does show promise, and analysts are still optimistic that a Starlink IPO is on the horizon. Justus Parmar, founder and CEO of venture capital firm Fortuna Investments, told Reuters he’s eyeing 2025 or 2026. “(Musk’s) waiting for a level of stability or predictability in revenue,” he said. Once the IPO is official, Parmar believes it will “be an extremely strong catalyst for everything space related.”
How can you get exposure before the Starlink IPO date?
While it’s impossible to invest directly in Starlink, you may be able to get a head start by investing in Tesla (NASDAQ:TSLA), as Musk stated he’ll ‘do his best’ to give preference to long-term Tesla shareholders. Additionally, there are platforms such as Hiive that enable accredited investors to purchase shares of pre-IPO companies, including SpaceX.
Fortunately, you have several options if you simply want to invest in satellite internet and aren’t particularly attached to the idea of Starlink. In spite of their failed efforts in the early 2000s, both Iridium Communications (NASDAQ:IRDM) and Globalstar (NYSEAMERICAN:GSAT) are currently going strong. Globalstar’s performance is especially promising, as the company’s share price has increased in value by almost 300 percent over the past five years as of mid-January 2025.
EchoStar (NASDAQ:SATS) is another satellite provider that’s performed strongly in recent years. Other potential satellite internet investments include ViaSat (NASDAQ:VSAT) and Gilat Satellite Networks (NASDAQ:GILT).
As with any investment, it’s important to do your research and speak to an accredited brokerage or investment advisor before you commit any capital.
Investor takeaway
From an investment perspective, Starlink displays incredible promise. The company’s ties to Musk, a man with an established track record of successful technology startups, has generated considerable interest out of the gate. Yet even ignoring the connection to Musk, Starlink has a massive potential addressable market thanks to ongoing demand for better connectivity and a relative dearth of viable options for edge computing.
Trends such as distributed work and the proliferation of internet of things devices will only further drive this demand.
With that said, it’s best to exercise a degree of restraint where Starlink is concerned. Although the company will very likely be a sound investment once it or SpaceX goes public, there is currently a great deal of exaggerated hype and speculation surrounding it. Anyone who chooses to add Starlink shares to their portfolio if the company does go public should first ensure they understand what to expect — something they cannot do by listening to hype alone.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
This post appeared first on investingnews.com
Gold has long served as a tool for investors to enhance their portfolios and protect against volatility.
At the Vancouver Resource Investment Conference, CEO Jay Martin engaged with industry experts Frank Giustra, Grant Williams, Alastair Still and David Garofalo to explore trends currently affecting the sector.
The group illustrated a market at a crucial juncture, with changing investor sentiment, geopolitical tensions and impending financial instability converging to potentially create the perfect storm.
Eastern vs. western perspectives on gold
Martin kicked the panel off by reviewing the last several years in the gold market. Looking back at 2019 and 2020, he noted that an influx of western investors helped pushed the metal’s price to phenomenal levels.
However, as the fallout from the COVID-19 pandemic drove inflation and interest rates, these investors became sellers, and gold started to sink. Capitalizing on these lower price points, central banks moved into the market and not only stabilized the price, but caused it to surge to all-time highs. By mid-2024, gold was 70 percent above its 2022 low.
Frank Giustra, CEO of the Fiore Group, largely agreed with Martin’s summary of gold’s activity, but added that while he thinks central bank buying will continue, there is more going on than meets the eye.
“What most people don’t understand about gold is that it’s not that the gold price is going up — it’s the fact that the fiat currencies that are measured against it are going down in value for a whole host of reasons,’ he said.
Giustra sees the US fiscal situation as a factor pushing the gold price up, and suggested that the situation is not only beyond repair, but also on the precipice of a crisis. “At some point there will be a US dollar crisis. It’s going to happen in our lifetimes, probably sooner rather than later, and when that happens, gold will go through the roof,’ he noted.
Grant Williams, author at Things That Make You Go Hmmm, expanded on Giustra’s point, outlining a critical difference between the east and west. “In the east, people don’t buy gold to sell it because the price has gone up. They buy gold to own it, and when they do sell it, it’s because they need to raise money for something important,” he said.
Williams also suggested that the west is at the end of a cycle. In his view, investors are attempting to maximize their returns in any way possible, and the system is corrupt and lacks consequences.
“This is going to come to a head. We’re in the middle of that process now, and at the end of that process, when these cycles fall over, the one thing you want to own is gold,’ he explained at the conference.
‘We are moving into the part of this where it’s not just a good idea to own gold anymore — it’s essential to own gold. And I think the price is going to reflect that in the coming 12 to 18 months.’
Tech stocks, Bitcoin distracting investors from gold
The panelists agreed that today’s investors are distracted as tech and Bitcoin dominate headlines.
While technology stocks still follow the typical market ebbs and flows, cryptocurrencies are a different story.
Giustra even compared the crypto space to a Ponzi scheme, pointing to one influential commenter who has suggested that Bitcoin will reach a value of US$13 million and gold will reach zero.
“These are ridiculous statements, but he needs to make those kinds of statements to keep the greed factor going. In any pyramid scheme, you need to have new buyers all the time to keep the game going,” he said.
Giustra also outlined how the cryptocurrency space has influenced the recent US election, spending US$245 million to influence Congress and the incoming president to ease regulations. This comes from a shifting narrative that implies crypto is a store of value. Giustra believes it’s an asset class in search of a purpose.
GoldMining (TSX:GOLD,NYSEAMERICAN:GLDG) CEO Alastair Still backed Giustra, saying that unlike gold, Bitcoins can be created every day, while gold’s limited supply is inherently connected to its store of value.
Still described how resource scarcity has been tested, outlining how geopolitically stable jurisdictions are diminishing. At the same time, mining companies have underinvested in exploration and been slow to find new assets.
“So while I think many investors are a little behind the curve,’ he explained at VRIC.
‘What we have seen is the major operating companies, they’re running deficits in their reserves, so they’re not replacing what they’re mining, and that’s because they’ve been underfunding exploration for years.’
Gold majors dealing with low grades, declining reserves
The systemic underfunding of exploration could be an opportunity for explorers and developers to start acquiring projects that will be sought by majors in the future. As it stands, miners are having to maximize extraction efforts.
“The operators are mining lower grades. That doesn’t necessarily mean they’re making more gold. They might make more profit, but they are actually potentially mining less gold,” Still commented.
David Garofalo, CEO, president, chairman and director at Gold Royalty (NYSEAMERICAN:GROY), agreed that operators are facing a challenge. “They’re facing a squeeze from tiny reserves, and reserves are down 40 percent. That’s demonstrated because the juniors haven’t had access to capital for over a dozen years,” he said.
He went on to explain that the entire industry is facing cost pressures.
All-in-sustaining costs have risen along with the price of gold, leading to a squeeze among producers. Much of this is due to inflation, which has resonated throughout the general economy.
“That’s why when you look at the leaders in our industry, their share prices are lower today than they were 30 years ago, when the gold price was a 10th of what it is today,” Garofalo said.
Rising costs and chronic underfunding are causing a dual squeeze. No new projects are in the pipeline, and he doesn’t expect the situation to reverse any time soon. Instead, he sees sees major companies like Barrick Gold (TSX:ABX,NYSE:GOLD) and Newmont (TSX:NGT,NYSE:NEM) with stagnating reserves and stalled output.
They can grow their share count, but not the gold they have access to, they’re not creating share value.
Which gold stocks to focus on now?
Garofalo suggested that the right space to be in now is the development stage. He thinks the majors are approaching a point where they need to add assets to their portfolios to continue to grow.
“The industry has basically been giving money back to investors for the last dozen years in dividends and share buybacks and whatnot, and not meaningfully back into the grassroots exploration to replace depleting reserves,” he said.
Likewise, Giustra backed the idea that the gold sector needs more consolidation.
“There are far too many companies burning a lot of overhead. The industry needs to consolidate. We need to deliver performance. And so it’s partially the industry’s fault; for a long time, it hasn’t performed. You need to perform economically with your deposits to qualify as an investment sector,” he said.
Williams added that it’s important for investors to understand what they are looking for. He said that gold can be “a get rich quick scheme, a get rich slow scheme and a stay rich scheme,” depending on where you are in the cycle.
“That shouldn’t be your only focus. You shouldn’t only be thinking about, ‘Where can I find the 10 baggers?’ If that’s really your mindset, crypto is the perfect vehicle for that, because there’s a 10 bagger produced every minute if you’re lucky enough to get in and get out. This industry is tangible,’ Williams said.
‘It’s things you pull out of the ground that are valuable.’
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
This post appeared first on investingnews.com
Brightstar Resources (BTR:AU) has announced High-Grades up to 65g/t Au at Second Fortune Gold Mine
Download the PDF here.
This post appeared first on investingnews.com
Radiopharm Theranostics (RAD:AU) has announced Clinical trial data shows RAD 101 detects Brain Metastases
Download the PDF here.
This post appeared first on investingnews.com
Sarama Resources Ltd. (“Sarama” or the “Company”) (ASX:SRR, TSX- V:SWA) is pleased to advise that it has commenced a multi-stage regional soil-geochemistry program at its majority- owned(1) 580km² Cosmo Gold Project (the “Project”)(2) in the Eastern Goldfields of Western Australia. The program is the most significant exploration work to be undertaken on the Project in decades and is a foundational stage for drill target generation.
The program follows the Company’s acquisition of a majority and controlling interest in the Project in December 2024 and its agreement to acquire a majority and controlling interest in the nearby Mt Venn Project in January 2025(3). In aggregate, the belt-scale projects will cover approximately 1,000km²(2,3) and +100km of strike-length of greenstone rocks and are well-positioned and underexplored, presenting an exciting opportunity for Sarama in the Laverton Gold District which is known for its prolific gold endowment (refer Figure 1).
Highlights
- Large-scale soil geochemistry program underway at the Cosmo Project to progress drill targeting
- Program is the most significant exploration works undertaken on the Project in several decades
- Initial focus on areas with large-scale structural features and lithological contacts identified in recent interpretation of airborne geophysical datasets
- Surface grab sampling returned grades up to 52g/t Au(5) in historical exploration within the Project
- Fieldwork already underway with experienced field crews mobilised; first samples for analysis in 2 weeks
- Opportunity for recommencement of modern exploration due to changes in land access
- Follows the recent execution of a non-binding Heads of Agreement to acquire majority interest in belt-scale Mt Venn Project(3)
- Sarama’s recent acquisitions will create in aggregate a 1,000km² exploration position(2,3) capturing 100km of strike length in underexplored terrane
- Projects located in the prolific Laverton Gold District, proximal to the producing Gruyere Gold Mine(4)
Sarama’s President, Executive Chairman, Andrew Dinning commented:
“We are very pleased to get exploration underway and bring the belt-scale Cosmo Project to account. Cosmo is genuinely underexplored, has all the geological ingredients to generate a discovery and with core team members that led the discovery of the multi-million ounce Moto and Sanutura(6) Projects in Africa and we look forward to seeing what this project can deliver. Leveraging its position at the Cosmo Project, upon completion of the transaction to acquire a majority interest in the nearby Mt Venn Project, Sarama will have 1,000km2 of highly prospective ground in the prolific Laverton Gold District.”
Click here for the full ASX Release
This post appeared first on investingnews.com
Melbourne, Australia (ABN Newswire) – Lithium Universe Limited (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF) is pleased to announce the signing of a non-binding Memorandum of Understanding (MOU) with Lafarge Canada Inc. (‘Lafarge’) for the exclusive supply of Aluminosilicate Secondary Product (ASCR) produced from the Becancour Lithium Refinery.
Highlights
– MOU signed with strategic cement partner, Lafarge Canada Inc.
– Canadian cement producer, part of the Holcim Group
– Exclusive supply of all Aluminosilicate product (‘ACSR’) from Becancour
– ACSR is used as an additive to cement products
– Improves cement durability, strength, and production costs
– Significant growth in Canadian cement industry
ASCR, commonly used as an additive in the cement industry, significantly enhances compressive strength and reduces production costs. Lafarge, a strategic Canadian cement producer, is part of the Holcim Group. Both parties will now work towards finalizing a definitive supply and purchase agreement.
About Lafarge Canada Inc.
Lafarge Canada (www.lafarge.ca) is the largest provider of innovative and sustainable building solutions in Canada, including aggregates, cement, ready mix and precast concrete, asphalt and paving, road and civil construction. We have over 6,900 employees and 400 sites across the country, and as an affiliate of Holcim, Lafarge Canada is driven by the Group’s purpose to build progress for people and the planet.
Holcim’s 63,448 employees are on a mission to decarbonize building while improving living standards for all. We empower our customers to build better with less, with a broad range of low-carbon and circular solutions, from ECOPact(R) to ECOPlanet(R). Through innovative systems, from Elevate’s roofing to PRB’s insulation, Holcim makes buildings more sustainable in use, driving energy efficiency and green retrofitting.
With sustainability at the core of its strategy, Holcim is on its way to becoming a net-zero company with 1.5degC targets validated by SBTi.
Benefits of ASCR Product
The process yields in the region of 130,000 tonnes of alumina silicate by-product annually and will be marketed as a cement additive. This product comprises silica (SiO2), aluminium oxide (Al2O3), and ferric oxide (Fe2O3).
It features a fine particle size and large specific surface area, enhancing its reactivity and utility in cement production. The Jiangsu Lithium Refinery successfully sold this by-product to local cement industries. Alumina silicate can improve cement strength and durability by absorbing Ca(OH)2 produced during hydration, filling gaps, and reducing heat generation. It also helps to resist cracking in large-volume concrete by mitigating temperature-induced stress. The effectiveness of alumina silicate in cement is well-established, with cement containing 30% alumina silicate showing a 132% increase in 28-day compressive strength compared to Portland cement. Additionally, using the fly ash activity determination method, cement with 30% alumina silicate demonstrates a 174% increase in 3-month compressive strength compared to cement with 30% finely ground quartz sand. By replacing some cement raw materials, alumina silicate can reduce production costs, improve efficiency, and enhance cement quality and durability. Lithium Universe will focus on establishing sales of the alumina silicate additive to local cement manufacturers, providing significant cost-saving benefits.
Canadian Cement Industry
The cement industry in Canada has shown notable growth and resilience in recent years. In 2021, the cement and concrete product manufacturing industry’s revenue reached approximately $12.3 billion, marking an increase of 14.14% from $10.8 billion in 2020, indicating robust demand in construction sectors. Cement production volumes in Canada also increased, with the country producing about 13.8 million metric tonnes in 2022, up by 6.2% from 2020’s 13 million metric tonnes. This growth aligns with the broader economic recovery post-pandemic, driven by significant investments in infrastructure and residential construction. Moreover, the market size for cement manufacturing in Canada was estimated at $2.1 billion in 2025, with a compound annual growth rate (CAGR) of 0.5% from 2019 to 2024, though it experienced a decline at a CAGR of 3.8% over that period due to various market dynamics. The industry employs over 166,000 people, contributing significantly to Canada’s economy with an annual economic impact of around $76 billion.
Lithium Universe Chairman, Iggy Tan said, ‘This is great news for Lithium Universe as we partner with Lafarge Canada Inc. to enhance the North American battery materials supply chain and promote sustainable innovation in Canada’s cement industry. This collaboration will not only advance our focus on building Becancour Lithium refinery’s secondary product supply chain but also strengthening local supply chains, fostering a more circular economy in Quebec, and contributing to greener construction materials.’
About Lithium Universe Ltd:
Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.
Instead of exploring for the sake of exploration, Lithium Universe’s mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.
Source:
Lithium Universe Ltd
Contact:
Alex Hanly
Chief Executive Officer
Lithium Universe Limited
Tel: +61 448 418 725
Email: info@lithiumuniverse.com
Iggy Tan
Chairman
Lithium Universe Limited
Email: info@lithiumuniverse.com
News Provided by ABN Newswire via QuoteMedia
This post appeared first on investingnews.com
Lithium Universe (LU7:AU) has announced MOU signed with Lafarge Canada Inc.
Download the PDF here.
This post appeared first on investingnews.com
Here’s a quick recap of the crypto landscape for Friday (February 7) as of 9:00 p.m. UTC.
Bitcoin and Ethereum price update
Bitcoin is trading at US$96,087, recording a 0.4 percent decrease over 24 hours as of the market’s close on Friday. The day’s trading range saw a high of US$100,097 and a low of US$95,746.
Meanwhile, Ether is priced at US$2,595.45, marking a decline of 3.7 percent over 24 hours. The cryptocurrency reached an intraday high of US$2,794.36 and a low of US$2,590.32.
Altcoin price update
- SOL is currently valued at US$189.99, 1 percent lower over 24 hours, after hitting a daily high of US$202.86 and a low of US$189.95 as the markets closed for the weekend.
- XRP rose to US$2.38 at the end of the trading day, marking a 2.2 percent increase. The cryptocurrency reached an intraday high of US$2.53 and a low of US$2.36.
- SUI is trading at US$2.97, near its lowest valuation of the day and a 6 percent decline. It achieved a daily high of US$3.37 and a low of US$2.96.
- Finally, ADA is down, priced at US$0.7041, reflecting a 0.6 percent decrease over 24 hours. Its highest price on Friday was US$0.7485 at the opening bell and its lowest was US$0.6994.
Crypto news to know
Acting Commodity Futures Trading Commission (CFTC) Chair Caroline Pham announced a forum where crypto CEOs from companies including Coinbase, Circle and Ripple can provide input on an upcoming digital asset pilot program.
Earlier this week, Pham said the CFTC will be dividing its task force into two main groups and will be “ending regulation by enforcement,” turning its attention to fraud and consumer protections instead.
Elsewhere, a US federal judge has decreed that Coinbase will be required to face allegations brought to it by the US Securities and Exchange Commission (SEC) in June 2023, rejecting the crypto exchange’s argument that it does not meet the criteria of a statutory seller. According to Reuters, US District Judge Paul Engelmayer said, “customers on Coinbase transact solely with Coinbase itself,” effectively concluding that Coinbase is a seller.
The SEC has also requested more time to reach a final decision regarding an application by Nasdaq’s International Securities Exchange to list options contracts for BlackRock’s iShares Ethereum Trust (ETHA).
The decision is now due in April of this year.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
This post appeared first on investingnews.com
With Bitcoin and other digital stores of wealth gaining popularity, Bitcoin mining stocks offer another investment opportunity for those who believe in the future of this technology.
Although the cryptocurrency market is marked by high volatility, analysts such as Peter Eberle, president and CEO of Castle Analytics, believe it could be a rewarding sector for investors this year and next.
“The incoming pro-crypto Trump White House has given a lot of confidence to investors, both institutional and retail, and this should reduce the uncertainty that has held many investors back from the sector,’ he continued. ‘Both Canadian and US crypto investors should see the benefits from this confidence in the asset class.’
Bitcoin set a new all-time high of US$103,697 on December 4, 2024, and continue to trade at an elevated level.
The global cryptocurrency-mining market is forecast to reach nearly US$8.24 billion by 2034, growing at a compound annual growth rate of 12.9 percent between 2024 and 2034.
“The industry is expanding primarily because of the development of distributed ledger technologies and an increase in electronic venture capital investment,” notes Precedence Research.
“Digital currency is now being used by developing nations as a means of financial transactions.”
US cryptocurrency stocks
1. MARA Holdings (NASDAQ:MARA)
Company Profile
Market cap: US$5.99 billion
MARA Holdings, previously Marathon Digital Holdings, was one of the first cryptocurrency-mining companies to begin trading on the NASDAQ. The digital assets company is focused on building North America’s largest and lowest-cost mining operation.
In its Q3 2024 financial and operational report, MARA shared that its hash rate for the quarter increased by 93 percent year-over-year to 36.9 exahashes per second (EH/s) and that its Bitcoin production came in at 2,070 Bitcoin. With the price of Bitcoin spiking more than 116 percent compared to the same quarter in the previous year, this helped the company’s revenues shoot up by 35 percent to US$132 million.
2. Riot Platforms (NASDAQ:RIOT)
Company Profile
Market cap: US$4.23 billion
Bitcoin miner Riot Platforms is another one of the relatively few crypto-mining companies trading on the NASDAQ. In addition to mining Bitcoin itself, the company has multiple subsidiaries working in different aspects of the business, including one that hosts Bitcoin-mining equipment for clients.
In the third quarter of 2024, Riot’s Bitcoin production came in at 1,104 Bitcoin, in line with the figure it produced for the same quarter in the previous year, despite the halving event in April. However, robust gains in the price of Bitcoin still allowed for an increase in total revenues year over year, coming in at US$84.8 million, up 65 percent compared to the same quarter in 2023.
3. Cipher Mining (NASDAQ:CIFR)
Company Profile
Market cap: US$2.02 billion
Cipher Mining operates an industrial-scale ecosystem of Bitcoin-mining data centers, offering Bitcoin-mining services to customers worldwide.
The company’s total self-mining capacity goal of 13.5 EH/s was reached in December 2024. Cipher plans to expand further to approximately 25.1 EH/s by the end of 2025. In Cipher’s Q3 2024 report, the company shared that it saw revenue of US$24.1 million during the quarter, down 20.5 percent year-over-year. Its assets included 95,459 Bitcoin at that time, up significantly from 32,978 Bitcoin at the end of 2023.
Canadian cryptocurrency-mining stocks
1. Hut 8 Mining (TSX:HUT)
Company Profile
Market cap: C$2.95 billion
Hut 8 Mining is one of the largest Bitcoin and Ethereum mining companies in the world. It has more than 1,322 megawatts of existing power capacity; 10 Bitcoin mining, hosting, and managed services facilities; and five high performance computing data centers.
As of the end of the third quarter of 2024, the company’s self-mined Bitcoin held in revenue stock stood at 9,106. Hut 8 mined 234 Bitcoin in the quarter, down 65 percent from its output in the same period last year as it had shut down its Drumheller, Alberta, site over high energy costs. However, revenue reached US$43.7 million, up by more than 103 percent year over year.
2. Bitfarms (TSX:BITF)
Company Profile
Market cap: C$1.03 billion
Blockchain infrastructure firm Bitfarms is one of the largest cryptocurrency-mining operators in the Americas. The firm has 13 Bitcoin mining facilities across Canada, the US, Paraguay and Argentina.
In its third quarter 2024 report, Bitfarms highlighted total revenue of US$45 million, up 30 percent year over year. As of late January 2025, the company had a hashrate of 15.2 EH/s, up from 7 EH/s in mid-May 2024. Management believes Bitfarms is on track to achieve a hashrate of 21 EH/s this year.
After receiving an unsolicited takeover bid from Riot Platforms and competing ones from other companies in H1 2024, Bitfarms began conducting a strategic review to determine the best path forward for its shareholders.
3. HIVE Digital Technologies (TSXV:HIVE)
Company Profile
Market cap: C$547.14 million
Mining digital assets such as Ethereum, Ethereum Classic and Bitcoin, HIVE Digital Technologies is a crypto-mining company that operates mining facilities in Sweden, Canada and Iceland. The company was the first publicly traded cryptocurrency miner, listing on the TSX Venture Exchange in 2017.
HIVE reported in early January that its Bitcoin holdings stand at 2,805 Bitcoin. As of the end of December 2024, the company reached 6.0 EH/s of operational hashrate, up 47 percent from 4.08 EH/s on December 31, 2023.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
This post appeared first on investingnews.com