Palm Beach, FL – December 21, 2021 – FinancialNewsMedia.com News Commentary – Recently, an insider/watchdog in the cryptocurrency mining industry, gave its view of what the coming year will look like. CoinDesk issued its first year-end survey of crypto miners, which revealed a competitive but mature business with potential for merger activity to accelerate. It started off by saying: “If you thought 2021 was a wild ride for crypto mining, you’d better strap yourself in for 2022.  The past year saw one of the biggest shake ups in mining history. Swathes of Chinese miners had to look for new homes due to the most intense regulatory crackdown in the country to date, while an ongoing global chip shortage capped the capacity of new mining machines globally.  But thanks to these developments, North American miners had a stellar year. With China out of the game, and their machine orders already in place, the U.S. and Canada have quickly risen to be the uncontested hashrate capitals of the world.  As the price of bitcoin hit historic heights, mining profit margins were as high as 90%. The industry entered a “gold rush” period, said an industry executive, citing the high profitability of the miners. At the same time, a subtler change took place. “Mining seems to have crossed the line where it was very risky and uncertain,” said another executive. The global industry is now becoming more like traditional business, where risk is lower and investors are throwing money in and are ready to wait two or three years to get their return, he added.   Active companies in the markets today include:  Fourth Wave Energy, Inc. (OTCQB: FWAV), Riot Blockchain, Inc. (NASDAQ: RIOT), Bit Digital, Inc. (NASDAQ: BTBT), Canaan Inc. (NASDAQ: CAN), HIVE Blockchain Technologies Ltd. (NASDAQ: HIVE) (TSXV: HIVE).

The Coindesk article added: “With competition ramping up next year, some miners will start to feel the margin squeeze, leading to potential for increased mergers and acquisitions. “I think there’s going to come a time, in the not too distant future, where there are companies that have raised money, have machines on order and have not deployed them yet that are in a cash crunch,” said the CEO of  one of the largest publicly traded bitcoin miners.”  “When that happens, you get some very interesting opportunities, because now you don’t have to integrate a company; you’re just acquiring their assets,” he added.  It concluded: “To be sure, this is not bad news for the industry in the long term. More consolidation and competition will not only make the industry more mature but will also help usher in the age of more efficient mining operations and incentivize use of more renewable sources of power.  “With the overall expansion of market boundaries, such a positive feedback mechanism will elevate the bitcoin mining industry to a more competitive and dynamic stage,” said a senior vice president of one of the industry’s largest manufacturers of bitcoin mining machines.”

Fourth Wave Energy, Inc. (OTCQB:FWAV) – BREAKING NEWS – Fourth Wave Energy Inc. Raises $4,300,000 in capital financing – EdgeMode advanced $1,600,000 in anticipation of closing the definitive merger agreement –  Fourth Wave Energy, Inc. (or the “Company”), has raised $4,300,000 million dollars through multiple retail and institutional investors. The funds will be used to acquire and deploy new mining and HPC hardware and invest into secured hardware and hosting contracts.

“We initially set out to raise 3 million dollars but had extra demand due to the exciting story of EdgeMode. We have advanced EdgeMode $1,600,000 to date to support their rapid growth objectives” stated Joseph Isaacs, current CEO of Fourth Wave Energy Inc.

EdgeMode has used these funds to place their fourth hardware order of 2021 with 2CSRi (EPA: 2CRSI, ISIN code: FR0013341781), a designer and manufacturer of high-performance energy-efficient IT servers and therefore increase their processing powering, revenue and exceeding growth targets.    See full press release      CONTINUED…   READ THIS AND MORE NEWS FOR FWAV BY VISITING:  https://www.fourthwaveenergyinc.com/investor-relations

In other technology recent news of interest:

Riot Blockchain, Inc. (NASDAQ: RIOT) recently announced that it has acquired Ferrie Franzmann Industries, LLC (d/b/a ESS Metron) (“ESS Metron”). The total consideration payable in the transaction is valued at approximately $50 million, consisting of up to 715,413 shares of Riot common stock and $25 million in cash, funded with cash on the balance sheet.

ESS Metron is a leader with over sixty years of experience in designing and producing highly engineered electrical equipment solutions, many of which are mission-critical to successfully deploying Bitcoin mining operations at scale. Acquisition assists in ensuring Riot’s timely miner installations by de-risking procurement of mission-critical infrastructure. Acquisition enhances Riot’s competitive position across the electrical supply chain, as ESS Metron is also a leading supplier to numerous third-party clients.  Transaction valued at approximately $50 million, $25 million payable in cash, and remainder in issuance of up to 715,413 shares of Riot’s common stock.

Bit Digital, Inc. (NASDAQ: BTBT), a public bitcoin mining company headquartered in New York, recently announced its new investor presentation is now available on the Company’s website in the Investors section.

Bit Digital is an American sustainability-focused generator of digital assets with a mission to build the largest global digital asset mining platform. The Company owns a fleet of nearly 40,000 miners, with a projected weighted average power cost of $0.036 kWh, a production cost of $5,978/BTC, and a hash rate of 2.6 EH/s. Bit Digital operates an institutional scale digital asset portfolio across five sites in the US and Canada. The Company continues to increase the number of bitcoins mined reaching 3,335 historically in 3Q21 versus 814 in 3Q20. Bit Digital brings proven institutional capabilities and access to strategic opportunities in the North American market through its seasoned NYC based leadership team with strong experience in the digital assets and mining space. The Company continues to strengthen its strategic commitment to sustainability with about half of its operations running on carbon-free energy sources, with a goal of 100% sustainable power. Bit Digital maximizes ROE by focusing investment on mining assets, while leveraging strategic partnerships for access to physical infrastructure and low-cost energy. With over 200MW of contracted hosting power, Bit Digital is well positioned to expand its fleet in 2022.

Canaan Inc. (NASDAQ: CAN), a leading high-performance computing solutions provider, recently announced that it has secured a purchase order (the “Order”) from Genesis Digital Assets Limited (“Genesis Digital Assets”), a leading Bitcoin mining firm with extensive experience in building and operating industrial-scale Bitcoin mining data centers, for 30,000 units of its Avalon Bitcoin mining machines.

In August 2021, Canaan granted Genesis Digital Assets an option to purchase up to 180,000 additional Bitcoin mining machines along with its original sales contract of 20,000 machines. The Order represents the first phase of this option exercised by Genesis Digital Assets and is expected to be delivered in the first quarter of 2022.

HIVE Blockchain Technologies Ltd. (NASDAQ: HIVE) (TSXV: HIVE) recently announced its investment in Titan.IO, Inc. (“Titan”), a cutting-edge blockchain software company and the creator of Lumerin, a next generation decentralized mining marketplace where hashpower can be bought and sold using tokens. Today Titan offers software which helps Bitcoin miners increase their efficiency and scalability at a flat, low cost. It also operates the Titan Mining Pool, which recently surpassed 3 Exahash of Bitcoin mining capacity.

Titan has also announced a disruptive decentralized hashpower routing protocol named Lumerin. The open source Lumerin Protocol is a peer-to-peer solution that enables the exchange of hashpower through smart contracts, making crypto mining hashpower tradable and liquid.

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