BlockchainCryptocurrency News

More and More Corporations are Approving of Crypto and Blockchain

The last few months have been a strange time for cryptocurrencies, but it now looks like we’re on the road to recovery. That’s because digital assets like Bitcoin are increasing in value again. Now, the investment of crypto as an investment vehicle or as a means of payment is growing more common.

For instance, data by Blockdata shows that most major banks invested in blockchain and crypto-related companies this year. Among the topmost 100 banks by the number of assets under management, over half invested in blockchain-related companies or cryptocurrency. They do so either directly, or via a subsidiary.

Just a week ago, MasterCard made an announcement that they have agreed to acquire the CipherTrace, which is a blockchain analytics startup. This was made to be a show of how global corporations are warming up to the technology.

After all, digital assets have the capability to redefine commerce. Starting from everyday tasks like paying for things and receiving money, towards complex tasks like transforming the economy. Digital assets will make the economy more efficient and inclusive.  This is according to the president of Cyber and Intelligence at MasterCard, Ajay Bhalla.

He emphasized that as the digital ecosystem grows, there is a greater need to make sure it’s safe and trusted. MasterCard intends to do just this by building on CipherTrace and MasterCard’s abilities.

Meanwhile ISW Holdings, which is shifting to BlockQuarry, reported updates prospect and current shareholders on primary performance metrics. In terms of performance metrics, mining is in progress in Pennsylvania, and it’s almost on full capacity of hashrate. As of yet, final updates and adjustments are being made towards the month end. This is being done to raise performance up to their peak. This way, the company’s mining operations in Pennsylvania will make a mining revenue of around $1.5 million at the current crypto prices.

Moreover, the company is looking forward to an impressive quarter for the three months that ended on September 30. But even so, the fourth quarter should offer a bigger breakout in financial terms, considering that it will be the first in which three months of mining had been at its peak. It’s also because of the start of generating revenues from hosting operations.

In terms of hosting power deployment, the management made site visits to their main Southeastern US cryptocurrency mining hosting site. They did so early on this week and according to that visit, the project is on schedule. In fact, the company believes that they will meet their estimated target of deploying the first 20 mW of power around the end of this month

This will kickstart the process of scaling hosting operations to the capacity of 200 MW that the project is supposed to deploy to clientele.

Show More

Leave a Reply

Your email address will not be published. Required fields are marked *

Skip to content