Stock Groups

Bitcoin, Ether, Dogecoin and Other Coins Surging While Crypto Miners Follow as Week Begins in Green -Breaking

by Mike Robinson

[ad_1]

Bitcoin, Ether and Dogecoin are on the rise, while crypto miners follow as week begins in Green

Once again, (BTC) is setting the tone for the cryptocurrency market, as it emerged from the weekend to finally topple a $63,500 price resistance that’s seemed to work against the coin since hitting an all-time high. Exchanges around the world such as Coinbase (NASDAQ:) Global, Inc. (NASDAQ:COIN) show that other coins, such as (ETH), DOGE and (DOT), are also following their lead. The coins have seen gains between 8-10% in the first week, but the true story is with cryptocurrency miners likeRiot Blockchain, Inc. (NASDAQ:NASDAQ.com:). Canaan Inc. (NASDAQ: CA) HIVE Blockchain Technologies Ltd. (NASDAQ: NASDAQ.) (TSX.V. HIVE) Hello Pal International Inc.(CSE): HP (NYSE 🙂 (OTCQB : HLLPF).

While most of the crypto mining is focused on BTC, there’s also been renewed interest in DOGE.

For instance, a recent cryptic change of Elon Musk’s Twitter (NYSE:) name to “Lorde Edge” was seen as a nod to Dogecoin. Glauber Contessoto, known as the Dogecoin millionaire, revealed he allocates 99% of his portfolio to the “eldger dog” coin, after it already surged nearly 30% to close out October.

As BTC has been criticized for its intense energy consumption during the mining process, and ETH continues to move closer to a new era that won’t involve mining, DOGE remains an enigma (thanks to Elon Musk’s teasing) that’s proving to be a profitable mining venture.

Popular livestreaming platform Hello Pal International Inc.In May, (OTC.HLLPF) became officially the first company listed with primary exposure for mining Dogecoin. Their users were able to use 12,500 mining equipments with an aggregate hash rate 6.25 TH/s.

It was a huge success. Hello PalThe company recently reported record quarterly income for the three-month period ending on August 31, 2021.

“Our fiscal year is transformative. It has resulted us achieving record revenues from livestreaming services of $13,206.275 and profit from crypto mining of $1,449.335 during the six month ended August 31, 2020.”
KL Wong (Founder and Chairman) Hello Pal

“Revenue increased by 208% in the six months ending 2020, with very low advertising spending and minimal user generation. Our acquisition of mining equipment has allowed us to expect an increase in revenue and profit for the rest of the fiscal years.
Crypto currency mining accounted for more than 58% of the company’s gross profit of $2,488,454 in 2021 H1.

FinancialNewsMedia provides the following information.

EMAIL NEWSLETTER

Get the other side of crypto!

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7]
It takes just one click to unsubscribe.

Continue reading on DailyCoin

Disclaimer Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of the potential risks and financial costs involved in trading the financial market. It is one the most dangerous investment types.



[ad_2]