USA News Group Commentary
Issued on behalf of Spearmint Resources
Inc.
VANCOUVER, BC, Jan. 17,
2025 /CNW/ -- Markets around the world are already
banking on a Trump-fueled crypto boom ahead of
the US President Re-Elect's upcoming inauguration. It's been just
over a year since the SEC legalized bitcoin
spot ETFs, and the impact continues to gain momentum on stocks
involved with crypto. In 2024, crypto was
one of the two drivers that drove gains in the year's top 5 tech
stocks, especially after Donald
Trump's election victory in November. Now
cryptocurrency-related stocks have become a
must-watch in today's market, with developments coming from
such as examples as Spearmint Resources Inc. (CSE: SPMT)
(OTCPK: SPMTF) (WKN: A2AHL5), KULR Technology Group,
Inc. (NYSE-American: KULR), MARA Holdings, Inc. (NASDAQ:
MARA), Coinbase Global, Inc. (NASDAQ: COIN),
and Robinhood Markets, Inc. (NASDAQ: HOOD).
The article continued: According to analysts at Research and
Markets, the Global Market for Cryptocurrency was
estimated at US$1.3 Billion in 2023
and is projected to reach US$1.8
Billion by 2030, growing at a CAGR of 4.8% from 2023 to
2030. Meanwhile, Spherical Insights published a report that
the Global Digital Asset Trading Platfom Market size is
expected to grow from US$2.49 in 2023
to US$10.99 billion by 2033, at a
CAGR of 16.01%.
Spearmint More than Doubles its Crypto
Exposure
Spearmint Resources Inc. (CSE: SPMT) (OTCPK: SPMTF) (WKN:
A2AHL5), recently announced that it more than doubled its
crypto holdings via additional purchases of
Solana. Solana is a
crypto-computing platform that aims to achieve high
transaction speeds without sacrificing decentralization. It seeks
to improve scalability through a different approach in the
blockchain industry, combining a proof-of-history (PoH) consensus
with the blockchain's underlying proof-of-stake (PoS) consensus.
This approach has attracted interest from a diverse range of
traders, from small-scale individuals to institutional entities.
Solana claims it can process around 50,000
transactions per second. Solana is both a
cryptocurrency and a flexible platform for developers
building decentralized applications
(dApps) across various industries, including
DeFi, gaming, non-fungible tokens (NFTs)
and financial derivatives.
"In an effort to be as proactive as possible towards building
shareholder value, management feels that diversifying into
Solana specifically holds the highest potential
for growth within the crypto space," said James Nelson, President of Spearmint. "We
are taking advantage of the dip and have recently made additional
Solana purchases resulting in more than doubling our
initial position. We intend to continue this crypto
diversification plan of action for the foreseeable future and will
update the market regarding this strategy in the short and long
term."
The move comes months after Spearmint announced its
intention to diversify into crypto, back in
November 2024, using a port of its
cash on hand to dip into the crypto market.
"With the Republican Party winning the USA election, the sentiment towards
crypto has become much friendlier," said Nelson in the
crypto diversification announcement. "We plan to take
a portion of the cash on hand and move it into the highest quality
portions of the crypto market. Management feels that
the longer term prospects of high quality crypto may
outperform the banking rates and it makes sense to allocate a
portion of our cash on hand to this area."
Outside of its crypto assets, Spearmint
Resources is also developing plans for its 4,722-acre George
Lake South Antimony Project in New
Brunswick, Canada, capitalizing on antimony's strong
performance over the past year, and anticipated new highs due to
China's recent export ban for the
metal.
Spearmint also highlights its lithium holdings in
Clayton Valley, Nevada, which show
potential for both lithium clay and lithium brine. With growing
interest in domestically sourced lithium projects, Spearmint
is optimistic about increased market attention in 2025. While
sentiment around lithium and electric vehicles (EVs) has been
negative in recent years, recent data shows global EV sales are on
the rise, with momentum strengthening rather than weakening.
Other recent industry developments and happenings in the
market include:
KULR Technology Group, Inc. (NYSE-American: KULR), a
leader in advanced energy management platforms, recently
announced a significant expansion of its Bitcoin
Treasury. The Company has increased its bitcoin
purchases for its Bitcoin Treasury by an additional
$21 million to reach a total of
$42 million in bitcoin
acquisitions. The additional purchases were made at a weighted
average price of $98,393.58 per
bitcoin, inclusive of fees and expenses.
The strategic move aligns with the company's
Bitcoin Treasury Strategy announced on December 4, 2024, wherein KULR committed
up to 90% of its surplus cash reserves to be held in
bitcoin. KULR recently introduced
"BTC Yield" as a key performance indicator (KPI) to measure the
percentage change in bitcoin holdings per share,
providing a transparent view of the accretive impact of its
Bitcoin Treasury strategy. From its initial
bitcoin purchase in December
2024 to January 4, 2025,
KULR achieved a BTC Yield of 93.7%, funded through surplus
cash and its At-The-Market equity program, while emphasizing that
BTC Yield is a supplementary metric and not a measure of MARA
Holdings, Inc. (NASDAQ: MARA) kicked off 2025 by announcing it
had surpassed its hash rate target after reporting a solid
month of Bitcoin production, marking a significant
milestone in its mining operations in December.
"In December, we surpassed our year-end hash rate target of 50
EH/s while improving our fleet efficiency to 20 J/TH," said
Fred Thiel, Chairman and CEO of
MARA. "We mined 249 blocks, the second most blocks in a
month on record. Our energized hash rate increased to 53.2 EH/s, a
15% improvement over November, while BTC production declined 2% to
890 BTC, primarily due to a slight decrease in luck. While some of
our bitcoin and hash rate was acquired outside of our
own pool, MARAPool achieved an impressive annual hash rate growth
of 168% in 2024, exceeding bitcoin's network growth
rate of 49%. These results underscore the substantial progress
we've achieved in expanding our operations and enhancing
performance, further solidifying our leadership within the
industry."
In 2024, MARA acquired 22,065 BTC at an average price of
$87,205 and mined an additional 9,457
BTC, bringing its total holdings to 44,893 BTC, valued at
$4.2 billion based on a spot price of
$93,354 per BTC. The company's
year-end BTC yield per diluted share reached 62.7%, with 7,377 BTC
loaned to third parties to generate additional returns. By
combining mining operations with strategic bitcoin
purchases during price declines, MARA leverages a hybrid
approach to optimize acquisition costs and maintain a competitive
edge. This strategy strengthens its position and aligns with its
commitment to delivering long-term shareholder value.
Coinbase Global, Inc. (NASDAQ: COIN),
recently scored a big win against the SEC as a judge
agreed to escalate a dispute over definitions of
crypto securities. Coinbase won
its latest legal battle against the SEC, when U.S District
Judge Katherine Failla ruled the
company can take a closely watched case—which turns on which
cryptocurrencies are securities—directly to the U.S.
Court of Appeals for the Second Circuit.
Although the ruling doesn't guarantee
Coinbase will win on the core securities issue,
it does speed up the timeline for a definitive decision. Judge
Failla's 23-page ruling highlights the disagreement among judges on
enforcing securities laws in the crypto sector, aiming
to resolve the issue as it progresses through higher courts.
However, the appeals court must first agree to hear the case.
"Over the strenuous objection of @SECGov, Judge Failla has
GRANTED our motion for leave to pursue an interlocutory appeal and
STAYED the district court litigation," said Paul Grewal,
Chief Legal Officer of Coinbase in a post
on X. "We appreciate the Court's careful consideration. On to
the Second Circuit we go."
Robinhood Markets, Inc. (NASDAQ: HOOD), recently
settled its own SEC charges for $45 million, just one day after its head of
crypto went on Fox Business to give his 2025
outlook under the incoming Trump administration.
Robinhood's CEO Vlad Tenev
went on with the BBC back in December to express his
concerns that cryptocurrencies and the
crypto industry were under a 'relentless assault' by
the outgoing Biden administration, opining that the next
administration will be very good for business.
Looking ahead, Robinhood is set to release its Q4
and FY 2024 financial results on February
12, 2025 after market close. Robinhood Markets
provides a platform for trading cryptocurrencies,
allowing users to buy, sell, and hold popular digital assets like
Bitcoin and Ethereum alongside
traditional investments. As of recent reports,
cryptocurrencies account for a significant portion of
Robinhood's transaction-based revenue, exposing the company
to the volatility and regulatory risks of the crypto
market.
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