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Dogecoin Is No Longer a Joke Meme Cryptocurrency

This Company Combines Live Streaming and Now Becomes One of the Largest and First Publicly Traded Dogecoin Miner in the World

If someone told you a digital coin with the image of a Dogecoin is the sixth most valuable cryptocurrency in the world, would you believe them? 

Now, you would have to. The coin that started as a joke with a picture from a dog meme has increased in value by 1400% in the last 12 months, and has gained popular status with business titans like Elon Musk and Mark Cuban tweeting about it and boosting the price.

This ‘coin of the people’ now has a market cap of about $45 billion

Many believe Dogecoin could be the currency of the future, as it continues to move toward mainstream acceptance along with other cryptocurrencies.

Now, an acquisition in the crypto space by this company has given the company a key 51% stake in the Dogecoin and Litecoin miner Crypto Pal and is now the first publicly traded company ever to mine Dogecoin. 

With the company’s latest acquisition, the 12,500 mining rigs Crypto Pal operates will accelerate its mission to connect people from around the world and open cryptocurrencies like Dogecoin to mainstream adoption. This company is changing the game for business, and the global democratization of finance.

With billionaires like the creating value for Dogecoin in a matter of days with some tweets, this space could be the next frontier for tech companies. 

A couple of years ago, the hype was at all time highs, and it has remained there ever since.

With financial service companies investing in R&D on blockchain and crypto, and even automakers like Tesla taking $1.5 billion positions in Bitcoin, what was once a fad is now the bleeding edge of the fusion of tech and finance. 

The company we are featuring next is a  provider of international live-streaming, has brought crypto-mining to more people by launching the Crypto-Mining Initiative, giving users the ability to participate in cryptocurrency mining in a simple and convenient way.

The company’s platform is a proprietary suite of mobile applications built on a user-friendly live streaming video and messaging interface that focuses on social interaction, language learning and travel. 

This company has been designed from the ground up to be easy to use and gives users the freedom to speak in their own language regardless of the other person’s language they are speaking to. 

The company’s whole  overriding mission is to bring the world closer together through social interaction, language learning, and travel.

But That’s Not All: Making Moves to Become a Crypto Powerhouse

This company first dipped its toes in the crypto market in February by strengthening its long-standing partnership with Shanghai Yitang Data Technology to offer its users the ability to participate in Bitcoin and Ethereum mining in a simple and convenient way. Yitang currently manages 35,000 mining machines spread across the North, North West and South East parts of China and has pre-existing contractual arrangements with mining machine vendors to acquire many more in the future.

This massive project will allow all of this companies users to mine both Bitcoin and Ethereum and add value to their crypto wallets on the platform. The mining results from this project will allow the company to demonstrate its capabilities and what they will get with a purchase. 

This news generated so much excitement among stakeholders that it resulted in an unprecedented surge in traffic of over 1000%, resulting in this companies website server being overloaded and causing a temporary outage – that’s how much people want in!

But the company didn’t stop there. 

In April, they  inked another deal with Shanghai Yitang to acquire an initial 51% interest in 12,500 mining rigs dedicated to mining Dogecoin (DOGE) and Litecoin (LTC) with an option to increase such interest to 100%.

This company ‘s mining assets provide a combined hash rate of 6.25 TH/s, which amounts to 2.1% of the entire current LTC network hash rate. They also make the company the first publicly listed entity focused primarily on mining Dogecoin and one of the largest Dogecoin miners in the world! 

A month later, they acquired 51% interest in Crypto Pal Technology at a low cost of $3.5 million, consisting of $1.5 million cash and 1,800,000 units.

And with its healthy balance sheet and record-breaking revenues, it’s likely that this company will continue growing its stake in the crypto mining space. Earlier this month, they closed a brokered private placement with Canaccord Genuity for gross proceeds of C$7.25 million, which received strong investor demand thanks to this companies bold entrance into the crypto market.

Even after acquiring 51% interest in Crypto Pal, this company has a strong balance sheet with over $7.4 million in cash, very minimal debt AND it continues to rake in record-breaking revenue every single month. 

This initiative marks a big move for this company, and an inflection point setting the tone going forward with cryptocurrency playing a major role on the live streaming platform. Founder and Chairman of this company noted, “The recent activity and interest in cryptocurrency presents us with a unique opportunity to introduce cryptocurrency to our users, as well as to bring cryptocurrency users to our platform.”

That might end up being an understatement, as the popularity of cryptocurrencies and their widespread adoption and acceptance across demographics, age groups, and even financial institutions have all picked up. 

In a world where power is critical, having the mining capacity and mining rigs available to supply the demand coming from users on your platform is a must. With more than double the current capacity of most of its main competitors, this company  is ready to meet the demands of its users for Dogecoin, Litecoin, Bitcoin and Ethereum through its new Crypto-Mining Initiative.

Breaking the 5-Million-User Barrier

In the world of mobile apps and social media platforms, it’s important to recognize the significance of reaching 5.7 million users.

Popular social media app Instagram took nine months between October 2010 and June 2011 to hit the 5-million-user mark. It took another ten months for the company to hit 50 million users. By 2016, it had hit the 500 million users mark. Today, Instagram—which is owned by Facebook, Inc.—has over a billion users.

However, the 5-million-user mark is significant, and This company reached it after having only performed its worldwide rollout in August of 2019.

Since that time, the company has continued to rake in record-breaking revenues month after month with revenues over CAD$2 million for five consecutive months with 100% organic revenue growth

Where this company truly shines is in its current revenue growth. Through its methodic and organic growth pattern, HP’s operating subsidiary has been cashflow positive for multiple months now, giving the company the ability to grow more with its own revenues should it choose to.

8 Reasons Why We Love This Company

  1. Strong momentum of Record Monthly Revenue: Revenue increasing MoM from CAD$640,000 in April 2020 to CAD$2.82 million in June 2021, which marked the company’s 7th consecutive month with over $2 million in revenue
  2. First publicly listed entity focused on mining Dogecoin. Recently acquired a 51% stake in 12,5000 mining rigs dedicated to mining Dogecoin and Litecoin. Newly acquired mining assets provide a combined hash rate of 6.25 TH/s, which amounts to 2.1% of the entire current LTC network hash rate.
  3. Explosive growth of user base: currently over 5.7 million users from over 200 countries and regions
  4. Stable Cash Position: Positive cash flow now and had successful financing through private placement.
  5. Expansion imminent, backed by established successes from live streaming in China, with a strategic plan in place to move into future international markets.
  6. Major Initiative in the works with 1-on-1 video chat matching.
  7. Unique value propositions to draw more users e.g Built-in translation tool, socially-based design to find new friends, with filtering and matching abilities through VIP model, and Moments feature that’s comparable to popular features in other apps such as WeChat and Instagram.
  8. Strategic corporate alignment with strong ally Melot Group, a China-based company whose live streaming services serve over 170M registered users and over 200,000 livestream hosts. 

This is a rapidly developing story that deserves your immediate attention. I urge you to sign up for our newsletter and learn the name of this little-known company, before more news comes out

1 https://www.hellopal.com/hello-pal-announces-record-2-820-million-monthly-revenue-for-june-2021-and-reports-on-crypto-revenue-and-profit-for-the-first-time/
2 https://www.prnewswire.com/news-releases/hello-pal-announces-website-outage-following-dogecoin-announcement-301245390.html
3 https://www.newswire.ca/news-releases/hello-pal-announces-user-bitcoin-mining-initiative-816821174.html
4 https://techcrunch.com/2011/06/13/instagram-five-million-users/
5 https://blog.interactiveschools.com/blog/50-million-users-how-long-does-it-take-tech-to-reach-this-milestone#:~:text=Despite%20its%20popularity%20today%2C%20this,this%20number%20was%20quickly%20hit
6 https://techcrunch.com/2016/06/21/instagram-500-million/
7 https://www.statista.com/statistics/272014/global-social-networks-ranked-by-number-of-users/
8 http://www.hellopal.com/hello-pal-year-in-review-900-revenue-growth-in-2020/
9 https://www.statista.com/statistics/1061997/china-yy-inc-live-streaming-revenues/
10 https://www.businesstoday.com.my/2020/05/04/bigo-reaches-400-million-users-in-over-150-countries/
11 https://www.globenewswire.com/news-release/2020/11/16/2127833/0/en/JOYY-Reports-Third-Quarter-2020-Unaudited-Financial-Results.html
12 https://ir.yy.com/news-releases/news-release-details/joyy-reports-second-quarter-2020-unaudited-financial-results
13 https://www.statista.com/statistics/281115/china-momo-im-user-numbers/
14 https://momoinc.gcs-web.com/static-files/49236a3e-3ff7-402d-ad01-c03b27700661
15 https://www.statista.com/statistics/1106180/china-online-video-platform-iqiyi-subscription-number/
16 https://ir.iqiyi.com/news-releases/news-release-details/iqiyi-announces-second-quarter-2020-financial-results
17 https://musically.com/2020/08/13/chinas-twitch-equivalent-douyu-has-165-3m-monthly-users/
18 https://www.chinainternetwatch.com/31073/douyu-huya-updates/
19 https://musically.com/2020/08/13/chinas-twitch-equivalent-douyu-has-165-3m-monthly-users/
20 https://www.chinainternetwatch.com/31073/douyu-huya-updates/
21 https://techcrunch.com/2020/11/16/baidu-to-acquire-joyys-chinese-live-streaming-service-yy-for-3-6b/?guccounter=1
22 https://techcrunch.com/2017/02/21/baidus-iqiyi-video-service-raises-1-53-billion/

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