RIOT also just announced it will achieve an estimated hash rate capacity of 1.06 Exahash per second with the deployment of the newly received 2,002 S19 Pro Antminers, according to a recent press release. “Exceeding 1 EH/s in hash rate capacity marks a major milestone for the Company,” said Jason Les, CEO of Riot.
“While we are proud of this accomplishment, we view it as the successful completion of just one of many steps of our ongoing growth plan. Riot continues to receive and deploy next-generation miners from Bitmain and remains on schedule to more than triple our currently deployed capacity by the fourth quarter of 2021.”
Canaan Inc. (CAN) is also pushing higher with the Bitcoin rally.
According to Business Insider, “The Beijing-based company expects to benefit from higher bitcoin prices in 2021 as the cryptocurrency’s rise continues to spark increased demand for mining machines that suppliers can’t meet. The shortage will likely lead to higher premiums for Canaan’s in-demand products.”
MP Materials (MP) rallied from about $30 to $42.95 as the U.S. works to secure more reliable sources of rare earths than it has at present.
All as China moves to enact tougher regulations over the rare earth industry, from mining to exports. “The new rules would give Beijing greater control over the supply of materials that have become vital for high-tech manufacturing around the world. China accounts for more than 60% of global rare-earth production, and its exports sank to a five-year low in 2020,” as reported by Nikkei Asia.
Vir Biotechnology (VIR) raced higher earlier this week on news it and GlaxoSmithKline will collaborate to develop the same type of treatment for flu that they made for COVID.
According to Barron’s, “The companies will expand their collaboration to develop monoclonal antibodies to prevent or treat the flu. They will work on an antibody already in testing by Vir, called VIR-2482, and others to be discovered during a three-year research phase. GlaxoSmithKline is making an upfront payment to Vir of $225 million and is increasing its equity investment in Vir by another $120 million.”
Canopy Growth (CGC) saw higher highs on hopes for federal cannabis legalization in 2021.
In fact, Senate Democrats could make cannabis reform a top priority in 2021. “We are committed to working together to put forward and advance comprehensive cannabis reform legislation that will not only turn the page on this sad chapter in American history, but also undo the devastating consequences of these discriminatory policies,” said Senate Majority Leader Chuck Schumer (D-NY), Senate Finance Committee Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ), as quoted by Marijuana Moment.
At the time of this writing, Ian Cooper did not hold a position in any of the stocks mentioned.