First Phosphate Raises $2.3 Million Via Oversubscribed Offering
First Phosphate has closed its most recent round of financing, raising gross proceeds of $2.3 million via an over-subscribed non-brokered private placement. The financing consisted of both hard and flow through units being sold. Under the terms of the offering, 4.3 million hard dollar units were sold, at a price of $0.35 per unit, with […]
Tesla Trades Like a Falling Knife, Yet It’s P/E Multiple Is Much Higher Than Its Comps
Tesla, Inc. (NASDAQ: TSLA) shares are down 68% YTD and 43% just during December 2022. Furthermore, the stock of the world’s biggest electric vehicle maker continues to be the focus of many investor conversations regarding its (horrible) price performance and valuation — and its implications for future stock market performance and valuation. Tesla shares have been rocked […]
Taiwan Extends Compulsory Military Service Amid Growing Tensions With China
With tensions between China escalating rapidly, Taiwan is looking to beef up its military in the event of an invasion, starting by extending the country’s mandatory conscription service. Taiwan’s president Tsai Ing-wen on Tuesday announced a series of upgrades to the country’s military, including extending compulsory basic training for men over 18 from five weeks […]
MicroStrategy Adds 2,500 Net Bitcoin To Its Portfolio – But Not Without Selling Some First
It may have taken awhile amid the downturn in current crypto markets, but MicroStrategy (NASDAQ: MSTR) has finally made another bitcoin purchase. The latest addition saw a total of $42.8 million worth of bitcoin added to the firms holdings. The purchase, which as per SEC filings occurred between November 1 and December 21, 2022, saw […]
Galaxy Digital To Buy Bitcoin Mining Facility From Argo Blockchain
Bitcoin miners might be losing money under current market conditions, but that’s not stopping Galaxy Digital (TSX: GLXY) from continuing to push to enter the fray. The firm this morning revealed it has acquired a mining facility from that of Argo Blockchain (NASDAQ: ARBK). Galaxy will pay US$65 million for the Dickens County, Texas-based Helios […]
Vladimir Putin Bans Oil Exports to Countries With Price Caps
Russian President Vladimir Putin is taking retaliatory measures against the West’s price cap on its crude exports. On Tuesday, Putin signed a presidential decree banning all oil shipments into countries preparing to exercise the EU’s agreed-upon $60 price cap on Russian crude. The move also bans petroleum product deliveries even if the contracts don’t directly […]
Bitcoin Hash Rate Recovers After 38% Drop During Arctic Blast
Bitcoin’s hash rate plunged about 38% leading to the holiday weekend as extreme weather pushed crypto miners in affected areas to voluntarily cut power or to completely shut down operations to ease stress on struggling power grids. The massive winter storm, which caused a blizzard-like “bomb cyclone,” left about 1,400,000 homes and businesses from Texas […]
Changpeng Zhao On His Net Worth: “No One Knows”
While the Binance chief is skiing for Christmas, crypto twitter is abuzz on conflicting reports about Changpeng Zhao’s current net worth. Forbes’ profile on the crypto mogul puts his worth at $17.4 billion while a separate article showed that the CEO’s net came down to $4.5 billion from $65 billion in March. Zhao downplayed the […]
COVID Christmas In China: Crematories Are Overrun As Cases Surge Again
The COVID-19 pandemic is coming full circle as the virus wreaks further havoc in the country where it seems to have begun–China. What complicates the situation further is Beijing’s unreliable information on the situation. China’s National Health Commission, the country’s top health regulator, announced on Sunday that it will no longer publish daily COVID surveillance […]
Putin Critic ‘Falls’ Off Building While On Vacation In India
One of Russia’s wealthiest lawmakers has died while on vacation in the Rayagada region of Odisha in India. His death comes just days after one of his companions reportedly died from a heart attack. Pavel Antov was in India with three companions to celebrate his 66th birthday. The so-called sausage tycoon was the multi-millionaire founder […]