Bitcoin (CRYPTO: BTC) surged past $47,000 and is attempting to reverse a bearish start to the year. The world's largest cryptocurrency by market capitalization is up 15% over the past week Bitcoin's recent price bounce appears to be driven by demand in the spot market, which typically occurs around market turning points. In the futures market, open interest is rising and funding rates are slightly positive (at a one-week high). That indicates an increase in trading activity, albeit with weak conviction among BTC buyers.
Some stocks in the crypto market appear set to ride this bullish momentum. Marketing Worldwide Corp. (OTCMKTS: MWWC) for instance, has officially launched its highly anticipated Minosis.io crypto-mining platform. MWWC completed several rounds of user testing to ensure the Minosis launch would go smoothly. The platform allows users to mine several cryptocurrencies, and MWWC earns revenues generated through transaction fees.
Marketing Worldwide (OTCMKTS: MWWC) generates $0.12 USD per day/user. At that rate MWWC is able to project daily revenues at different milestones: 50,000 Users x $0.12 - 2% Gas Fees = $5,880.00 USD 100,000 Users x $0.12 - 2% Gas Fees = $11,760.00 USD 250,000 Users x $0.12 - 2% Gas Fees = $29,400.00 USD Hashrate rental is another revenue stream MWWC plans to expand rapidly.
A rapid expansion of the hash rental will attract new clients to the platform by creating a higher ROI option. The Company expects to triple its current hash availability by late May 2022.
Finally, in what could be MWWC's biggest revenue stream, the company plans to have a stock buyback function attached to every transaction. MWWC plans to aggressively market through trade publications and web-based forums as well as paid advertising platforms targeting its ideal client. The goal is to reach 250,000 users before the end of the year. Which, as displayed above would bring in around $30k USD of revenues daily.
Grayscale Investment (OTCMKTS: GBTC): There have been many stocks which have managed to come into focus among investors in March and one of those is Grayscale Investments. The company is the biggest digital currency asset manager in the world and back on March 22 it made a major announcement.
The company announced that it had been successful in launching its latest investment product, the Grayscale® Smart Contract Platform Ex-Ethereum Fund. It was the 16th investment product that was launched by the company and also constituted the third diversified fund offering. The new fund is going to allow investors to have exposure to some of the leading Smart Contract Platforms in the industry. It now remains to be seen how the fund actually performs.
BTCS Inc (NASDAQ:BTCS): In the fourth quarter, the company reported revenue of $0.4 million, up 35% sequentially. The gross margin was 78% for the full year of 2021. Adjusted EBITDA loss of $2.5 million, a non-GAAP financial measure for the year ended December 31, 2021.
The company exceeded its March 2021 revenue guidance for the year, generating revenue of $1.2 million with a 78% gross margin for the year ended December 31, 2021.
"Increasing revenue in the fourth quarter from our growing blockchain infrastructure segment enabled us to exceed our revenue guidance for the year," stated Charles Allen, Chief Executive Officer of BTCS.
Marathon Digital Holdings (NASDAQ:MARA): If you are currently looking into innovative crypto-related stocks then Marathon Digital Holdings Inc could be the one to watch out for. The company operates one of the biggest self-mining Bitcoin enterprises in North America at this point and yesterday it made a major announcement as well.
The company announced yesterday that it had appointed a new Chief Financial Officer in the form of Hugh Gallagher and the appointment would go into effect from today. SimSalzman, who had been serving as the Chief Financial Officer, would move on to the position of Chief Accounting Officer from today. It remains to be seen if these developments lead to any movement in the Marathon Digital stock or not.
Riot Blockchain (NASDAQ:RIOT): The next crypto mining-related stock which could be added to the list at this point is Riot Blockchain. At this point in time, the company boasts of as much as 4884 on its balance sheet.
Although the stock has dived in recent days, it is necessary to mention that in 2021 Riot clocked significant growth. On a year-on-year basis, the company managed to generate revenue growth of as much as 1665% and brought in revenues to the tune of $213.2 million. It may be a good time to add the stock to your watch lists and watch the price action.
Hut 8 Mining Corp (NASDAQ:HUT): For the full year ended December 31, 2021, the company reported revenue of $173.8 million and mined 2,786 Bitcoin in 2021. As of December 31, 2021, the Company had a total Bitcoin balance of 5,518 with a market value of $323.9 million, including 2,000 Bitcoin loaned as part of the Company's fiat yield strategy.
Net loss stood at $72.7 million, compared to net income of $19.0 million for the same period in 2020.
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