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Exclusive: GameStop Completes At-The-Market Equity Offering Program
Exclusive: GameStop Completes At-The-Market Equity Offering Program

GRAPEVINE, Texas, June 22, 2021 (GLOBE NEWSWIRE) -- GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it has completed its previously announced “at-the-market” equity offering program (the “ATM Offering”).

GameStop Is Joining the Russell 1000, but AMC Isn’t. How It Affects the Stocks.
GameStop Is Joining the Russell 1000, but AMC Isn’t. How It Affects the Stocks.

The latest rally in meme stocks has given AMC Entertainment and GameStop the biggest and third-largest market capitalizations among companies in the Russell 2000 index of small companies. The Russell indexes' annual reconstitution is coming up next week, so investors have been wondering it the pair might graduate into the large-cap Russell 1000 .

Don't Ignore GameStop's Crazy Valuation, But Its Business Is Getting Better
Don't Ignore GameStop's Crazy Valuation, But Its Business Is Getting Better

Were traders on the WallStreetBets subreddit right about GameStop (NYSE:GME) after all?

MarketWatch FUD Why a crash in meme stocks AMC and GameStop looks more likely now
MarketWatch FUD Why a crash in meme stocks AMC and GameStop looks more likely now

MarketWatch FUD media wrote: Could insider sales of meme stocks signal a coming crash in their share price? The empirical research suggests the answer is yes.

Exclusive: Iran bans cryptocurrency mining for 4 months amid power cuts

Iran has banned the energy-intensive mining of cryptocurrencies such as Bitcoin for nearly 4 months, President Hassan Rouhani said on Wednesday, as the country faces major power blackouts in many cities.


"The ban on the mining of cryptocurrencies is effective immediately until September 22 ... Some 85% of the current mining in Iran is unlicensed," Rouhani said in a televised speech at a cabinet meeting.

Bitcoin and other cryptocurrencies are created through a process known as mining, where powerful computers compete with each other to solve complex mathematical problems. The process is highly energy intensive, often relying on electricity generated by fossil fuels, which Iran is rich in.

As next month's presidential election approaches, the blackouts have been widely criticised by Iranians. The government has blamed the power cuts on cryptocurrency mining, drought and surging electricity demand in summer.

According to blockchain analytics firm Elliptic, around 4.5% of all Bitcoin mining takes place in Iran, allowing it to earn hundreds of millions of dollars from cryptocurrencies that can be used to lessen the impact of U.S. sanctions.

Iran's economy has been hit hard since 2018, when former President Donald Trump exited Tehran's 2015 nuclear deal with six powers and reimposed sanctions. U.S. President Joe Biden's administration and other global powers have been in talks with Iran to revive the deal.

Iran has accepted crypto mining in recent years, offering cheap power and requiring miners to sell their bitcoins to the central bank. Tehran allows cryptocurrencies mined in Iran to be used to pay for imports of authorised goods.

The prospect of cheap power has attracted miners, particularly from China, to Iran. Generating the electricity they use requires the equivalent of around 10 million barrels of crude oil a year, or 4% of total Iranian oil exports in 2020, according to Elliptic.


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