Over the last few days, Elon Musk said Tesla could start to accept Bitcoin as payment again, if at least half of it can be mined using clean energy. “When there’s confirmation of reasonable (~50%) clean energy usage by miners with a positive future trend, Tesla will resume allowing Bitcoin transactions,” he tweeted. A way to process blockchain transactions with near zero energy use is by using technology called Proof-of-Stake. With it, companies, like Tokens.com Corp. (NEO:COIN) can perform the same work as a crypto miner—with a similar compensation structure — but in an environmentally friendly way. Other miners to keep an eye on include Riot Blockchain (NASDAQ:RIOT), Marathon Digital Holdings Inc. (NASDAQ:MARA), HIVE Blockchain Technologies Ltd. (TSXV:HIVE)(OTC:HVBTF), and Bit Digital Inc. (NASDAQ:BTBT).
As reported by NBC News, “Because the basis of proof of stake doesn’t require any extra energy to prove trustworthiness, it is much more energy efficient. Unlike in proof of work, where specialized computing equipment like high-end graphics cards are needed, the proof of stake protocol can be run off of a laptop. The nodes are virtual spaces, not physical equipment.”
Tokens.com Corp. (NEO:COIN) Just Added Figment As New Staking Integration Partner
Tokens is a blockchain technology company that provides transaction processing and validation services for various digital assets that power Decentralized Finance applications and Non- Fungible Token (NFT) platforms.
Tokens utilizes Proof-of-Stake or Staking technology. DeFi is a new class of financial applications that provides users with automated and transparent financial services, such as borrowing and lending, without the need for financial institutions. NFTs are redefining how art, gaming, music and collectibles are created, valued and traded. Management believes that as mainstream adoption for DeFi and NFT applications grow, the need for Tokens.com’s Staking services will commensurately increase.
In addition, Tokens.com Corp. just announced the addition of Figment as its newest staking integration partner. “We look forward to working with Figment in our crypto staking operations. We’re excited to expand our team of strategic partners with a leading Canadian staking entity,” commented Tokens.com CEO Andrew Kiguel.
Tokens.com will utilize Figment’s staking services for selected digital assets. In turn, Tokens.com will receive compensation, in the form of crypto tokens, for processing transactions and securing selected crypto networks. Crypto staking is achieved with environmentally friendly technology that has near zero electricity requirements.
“Tokens.com has developed an exciting new way to safely invest in Proof-of-Stake assets,” noted Figment CEO Lorien Gabel. “We look forward to supporting their growth with our enterprise grade staking & node infrastructure.”
Other related developments from around the markets include:
Riot Blockchain, one of the leading Nasdaq listed Bitcoin mining companies in the United States, announces its May production and operational updates, including its unaudited Bitcoin production for May 2021 and its latest miner delivery status. In May 2021, Riot produced 227 BTC, an increase of approximately 220% over its May 2020 production of 71 BTC. Year to date through May 2021, the Company produced a total of 924 BTC, an increase of approximately 101% over its pre-halving BTC production during the same 2020 period of 460 BTC. As of May 31, 2021, Riot held approximately 2,000 BTC, all of which were produced by its operations.
Marathon Digital Holdings Inc., one of the largest enterprise Bitcoin self-mining companies in North America, is set to join the Russell 2000® Index at the conclusion of the 2021 Russell indices’ annual reconstitution, effective after the U.S. stock markets open on June 28, 2021. The stock will also be automatically added to the appropriate growth and value indexes.
HIVE Blockchain Technologies Ltd. announced that it has received confirmation from Bodens Energi Nät AB for an additional guaranteed 10 MW of green energy electricity for its GPU data centre in Sweden. This increase is on top of the previously announced 2 MW expansion on January 28, 2021. These combined expansions increase the capacity of the facility by over 50% from 21 MW to 33 MW. Presently we are securing new state of the art performing GPU cards for this expansion.
Bit Digital Inc. announced that the Company has entered into a strategic co-mining agreement with Digihost Technologies in North America. Pursuant to the terms of the Agreement, Digithost will provide certain premises to Bit Digital for the purpose of the operation and storage of a 20 MW Bitcoin mining system to be delivered by Bit Digital, and Digithost will also provide services to maintain the Premises for a term of two years. The collaboration between Digihost and Bit Digital is expected to generate an increase in hashrate of approximately 400 PH between the companies.
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