BitDigest December 3 · Issue #796

• Crypto prices in the green trading in new trading bands
• Democratic law makers have introduced a bill making it illegal for a stablecoin to be issued without a banking charter thereby defining stablecoins as a form of bank deposit.
• Grayscale announces ETHE stock split

Weekly Stock Review

Highlights from the North American listed crypto, blockchain and mining stocks:

• Hive Blockchain (TSX.V: HIVE) returned 35.2% generating the top weekly return among the tracked North American equity universe.
• The premium to NAV for Grayscale’s Bitcoin Trust (OTCQX: GBTC) jumped from around 20% to 30% as the bitcoin broke its’s all time high while the premium for the Ethereum Trust (OTCQX: ETHE) also doubled over the past weeks.
• As released below, the the Ethereum Trust (OTCQX: ETHE) announced a 9-for-1 share split.
• Canadian miner Hive Blockchain (TSX.V: HIVE) saw revenue increase 8% to $13 million with net income per share turning positive ($0.03) during the period ending September 30th due to a growing focus on mining ether.
• Ebang International (NASDAQ: EBON) announced a new technology licensing agreement proving the Chinese crypto hardware provider with access to “ASICBoost” a process to increase the performance of bitcoin mining by 20%.
• TAAL (CSE: TAAL), the first and only publicly traded BitcoinSV company, reported a net loss of $5.9 million on sales of $245 thousand; over a 9 month period, Q3 sakes dropped 32% from $11.6 million in 2019 to $7.8 million in 2020.
• Canaan (NASDAQ: CAN) was the worst performer falling 41.1% as the Chinese hardware supplier reported third quarter revenue of RMB 163 million ($24 million) a year-over-year decrease of 75% and quarter-over-quarter decrease of 8.5%.
• Bitcoin (BTC) underperformed the public market this week, returning 2.5% compared to an industry mean of 3.9% and median of 7.8%.

The Headlines

Market Data

Exchange, Custody and Product News

Thoughts on the Ecosystem