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Crypto Prices Could Break Out Soon

FN Media Group Presents Market Commentary


New York, NY – September 15, 2022 – Crypto prices have recently become more bullish for many reasons. One reason for the rebound is due to governments all over the world planning additional rounds of extreme quantitative easing. It’s possible that the crypto markets have already bottomed and that the whole industry won’t be affected by the pessimistic macro outlook. Particularly concerning Bitcoin, it may turn out to be a risk-off asset, suggesting that even with a general market slump, the price of Bitcoin would continue to rise over the ensuing months and years. One can anticipate that Bitcoin would eventually outperform gold in value or even take some of the bond market’s share. If so, there is a lot of space for parabolic price growth for cryptocurrencies over the coming years. This is good news for crypto companies like WonderFi Technologies (TSX:WNDR) (OTCQB:WONDF), BIGG Digital Assets Inc. (CSE:BIGG) (OTCQX:BBKCF), DMG Blockchain Solutions Inc. (TSX-V:DMGI) (OTCQB:DMGGF), Marathon Digital Holdings, Inc. (NASDAQ:MARA), and Riot Blockchain (NASDAQ:RIOT).


WonderFi Technologies (TSX:WNDR) (OTC:WONDF) is an industry leader in technology to improve access to digital assets for all users through centralized and decentralized platforms.


On September 1, WonderFi announced that it has signed an agreement to buy Blockchain Foundry (BCF), which is one of the top North American blockchain development companies.


“This acquisition further solidifies WonderFi as the Canadian leader in the digital asset space,” said WonderFi CEO Ben Samaroo. “BCF is on a great trajectory with a diverse set of intellectual property, brand partnerships, and a revenue-generating track-record. The current economic conditions in the crypto market have made it attractive for WonderFi to be able to acquire companies like BCF which carry the potential to compliment our core operating crypto asset trading platforms Bitbuy and Coinberry, while also adding cash, liquid digital assets, and a portfolio of private emerging crypto investments to WonderFi’s balance sheet.”


For the fifteen months ended on March 31, 2022, BCF recorded revenue of about $1.67 million. It also reported having cash and liquid digital assets worth about $7.24 million and a portfolio of private emergent crypto investments worth $500,000 as of June 30, 2022.


BCF launched LastKnown in January 2022 as a non-fungible token (NFT) minting platform and marketplace for one-of-a-kind NFT drops from artists and collectors. To present, BCF has made three collections available from various award-winning artists on the platform.


In May 2022, a beta version of Metacademy, which is a learn-to-earn educational tool that teaches users how to create cryptocurrency wallets, mint, buy, and sell NFTs, distinguish between Web2 and Web3, and better grasp the metaverse, among other things, was released by BCF.


Earlier this summer, WonderFi Technologies also acquired Coinberry, Canada’s first pure-play licensed crypto broker and one of Canada’s leading crypto asset trading platforms that is registered with the Canadian Securities Administrators (CSA). The acquisition of Coinberry further solidifies WonderFi as a leader in the Canadian crypto industry, and along with our acquisition of BCF and Bitbuy earlier this year, establishes a solid foundation for the company’s  expansion into global markets.

For more information about WonderFi Technologies Inc (TSX:WNDR) (OTCQB:WONDF), click here.


Crypto Miners Report Bitcoin Production


BIGG Digital Assets Inc. (CSE:BIGG) (OTCQX:BBKCF) announced on September 6 the U.S. operations of Netcoins’ initial launch schedule. Users can purchase Bitcoin, Ethereum, and other cryptocurrencies on Netcoins’ platform with no funding costs or fees for cash withdrawals. Based in Wyoming, Netcoins USA Inc. will open its trading platform in California, Pennsylvania, Michigan, and Virginia to start its activities in the fourth quarter of this year. In Q1 2023, Netcoins hopes to open new states, subject to clearance, as part of its ambitious growth strategy. On September 1, BIGG provided a report on Q2 business expansion achievements. With an annual contract renewal worth US$270,000, Blockchain Intelligence Group continues to offer real-time payments to more than 100K shops worldwide. It will continue to use the crypto insights ecosystem’s QLUETM for investigations and BitRank Verified® for automated risk monitoring tools from Blockchain Intelligence Group.


DMG Blockchain Solutions Inc. (TSX-V:DMGI) (OTCQB:DMGGF) boosted hashrate by 18% in the June quarter compared to the prior quarter and is still laying the groundwork for the Core+ strategy as it works toward its objectives of developing 1 EH/s of self-mining capability. Despite the unstable market, DMG‘s balance sheet is strong. Revenue decreased by 12% from the prior quarter to $10.5 million from $11.9 million, primarily due to a corresponding fall in self-mining revenue, which fell to $9.0 million from $10.3 million. Compared to the previous quarter, the average cost of a mined bitcoin decreased 19% to C$42,288. DMG mined 212 bitcoin, up 8% from the prior quarter’s 195 bitcoin, with a 9% decrease in the network BTCs per hash somewhat offsetting its 18% increase in realized hashrate to an average of 0.55 EH/s. DMG installed 87 PH/s of mining capacity and mined 69 bitcoin in August 2022. As of August 31, 2022, the company had 362 bitcoin in its account.


Marathon Digital Holdings, Inc. (NASDAQ:MARA) produced 184 bitcoin in August. Year to date through August 31, 2022, the company produced 2,222 bitcoin, representing a 26% increase over the same period in the previous year. As of August 31, 2022, there were 10,311 BTC in total holdings, with a fair market value of $206.7 million. August saw the successful energization and startup of about 25,000 of Marathon’s previously installed miners, or about 2.5 EH/s. As a result, as of August 31, 2022, the company’s hash rate rose to about 3.2 EH/s. In comparison to Q2 2021, Marathon‘s revenues dropped to $24.9 million in Q2 2022. This $4.4 million fall in revenue was driven by reduced revenue per bitcoin mined primarily compensated by an 8% rise in bitcoin production activity.


Riot Blockchain (NASDAQ:RIOT) produced 374 BTC in August 2022 as opposed to 441 BTC in August 2021, a decrease of almost 15%, while significantly lowering overall power expenditures by employing its patented power strategy. Riot possessed about 6,720 BTC as of August 31, 2022, all of which came from the company’s mining activities. Due to its emphasis on Bitcoin mining, Riot continues to reach important milestones while positioning itself for potential prospects. For the second quarter, total revenue increased by 112% to $72.9 million, compared to $34.3 million for the prior-year quarter. An increase in the quantity of BTC mined, which was adversely influenced by lower BTC values in Q2 2022 compared to Q2 2021, resulting in a 47% rise in mining revenue to $46.2 million for the quarter, as compared to $31.5 million for the same three-month period in 2021. Riot produced 107% more BTC over the three months that ended on June 30, 2022, at 1,395 BTC, compared to 675 BTC produced during the same period in 2021.


WonderFi’s core team of engineers and technologists at WonderFi is committed to enabling people worldwide to access finances in a straightforward, wise, and secure manner. They share the belief that everyone should have equitable access to finance.


DISCLAIMER: (MSC) is the source of the Article and content set forth above.  References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.


The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of WonderFi Technologies Inc.




This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.


Media Contact:
FN Media Group, LLC



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