NEW YORK, Sept. 24, 2021 /PRNewswire/ — The cryptocurrency market is ever evolving and growing more complex. Now, government agencies are pushing for more regulations because of how popular digital currencies have become. According to the New York Times, cryptocurrency grew from a digital curiosity into a volatile but widely embraced innovation, and federal regulators are racing to address the potential risks for consumers and financial markets. “Their concerns have only grown as both new and established firms have rushed to find ways to profit from bringing the massive wealth held in cryptocurrency into the traditional financial system through quasi-banking services like interest-bearing accounts and lending,” the Times indicate. A cryptocurrency is a digital asset that utilizes computer code and blockchain technology to operate somewhat on its own, without the need for a central party — be that a person, company, central bank or government — to manage the system. ISW Holdings Inc. (OTC: ISWH), Riot Blockchain, Inc. (NASDAQ: RIOT), Marathon Digital Holdings, Inc. (NASDAQ: MARA), SOS Limited (NYSE: SOS), HIVE Blockchain Technologies Ltd. (NASDAQ: HVBT).
Over the last several years, the perception regarding cryptocurrencies has changed drastically. Earlier in the year, several major companies announced a more open-minded approach to Bitcoin, accepting it as payment for product and services. For example, earlier in August, United Wholesale Mortgage, which made its public debut in January via a special purpose acquisition (SPAC) merger, announced plans to accept cryptocurrency for home loans, in what is being billed as a first for the national mortgage industry. “We’ve evaluated the feasibility, and we’re looking forward to being the first mortgage company in America to accept cryptocurrency to satisfy mortgage payments,” CEO Mat Ishbia said in the company’s second quarter earnings call on Monday, according to CNBC.
ISW Holdings Inc. (OTC: ISWH), transitioning to ‘BlockQuarry,’ pending name change, reported earlier this week that an update for, “current and prospective shareholders on core performance metrics, timeframe for hosting deployment, and corporate identity.”
Performance Metrics. Mining is fully underway in Pennsylvania, and nearing full capacity on hashrate. Final adjustments and updates are being implemented into month end to push performance up to peak potential, at which time the Company’s PA mining operations will be producing mining revenues that will contribute to an overall monthly revenue run rate of $1.5 million at current cryptocurrency pricing.
In addition, the Company anticipates a breakout record quarter for the three months ending September 30, 2021. However, the fourth quarter should be a much more significant breakout in financial terms given that it will be the first quarter featuring a full three months of mining at peak capacity as well as the start of revenues from hosting operations.