NEW YORK, June 28, 2017 /PRNewswire/ —
In increasing volume, investment opportunities in the legalized marijuana industry are being added to the portfolio of many enterprising investors. Amid the numerous categories of investment options offered within this burgeoning industry, two sectors stand out: bitcoin, a digital currency that can facilitate the transfer of funds free of banks and government regulation, and hydroponics, an industry standard method of growing plants without soil. Companies like SinglePoint, Inc. (OTC: SING) (SING Profile), Bitcoin Investment Trust (OTC: GBTC), First Bitcoin Capital Corp. (OTC: BITCF), Scott‘s Miracle-Gro Co. (NYSE: SMG) and Terra Tech Corp. (OTC: TRTC) are currently forging paths in these increasingly popular areas, demonstrating the diverse nature of the marijuana industry.
Among other cannabis-centered ventures, SinglePoint (SING) is developing a bitcoin payments solution for cannabis businesses and, through its recently acquired Discount Indoor Garden Supply (DIGS Hydro) subsidiary, also provides hydroponics products and other supplies and services.
An ongoing roadblock for legal marijuana enterprises has been a lack of banking options, which forces these businesses to conduct cash transactions. SinglePoint has identified bitcoin digital currency as an ideal solution to the numerous challenges of the ‘unbankable’ marijuana industry (http://nnw.fm/8fk1B) and is creating a proprietary bitcoin payment solution that can be implemented in any point-of-sale machine through a simple download, enabling cannabis dispensaries and other marijuana businesses to conduct debit and credit card transactions independent of banks and the FDIC.
SinglePoint, Inc. (SING) also participates in another high-interest area of the marijuana industry through its acquisition and 90 percent ownership of DIGS Hydro. Through DIGS Hydro, SinglePoint is now able to offer soil and supplies, including hydroponics products, to legal cannabis growers. It also offers consulting services relating to indoor growing and hydroponics. This acquisition has positioned SinglePoint to become a leader in online products, retail stores, cannabis consulting and equipment in California, which is home to thousands of marijuana-related businesses.
As announced earlier this week (http://nnw.fm/X4PoS), DIGS Hydro has received a ‘major’ purchase order from Premier Biomedical and has therefore generated an additional revenue stream for SinglePoint.
“This opportunity for both SinglePoint and DIGS Hydro is fantastic. We have been working very hard on making acquisitions and inside sales to boost revenues. To have this subsidiary execute on its business plan and generate major revenue for SinglePoint is exactly what we want to see. We are very excited about the second quarter financials and showing the significant revenue increase,” SinglePoint CEO, Greg Lambrecht stated in the news release.
SinglePoint also describes its strategy to increase revenues through the remainder of the year, leveraging the strength of its acquisition-based growth strategy.
Such acquisitions are part of SinglePoint’s diversified approach to operating within the marijuana industry without ever touching the plant. Earlier this year, the company began funding Convectium, which is a provider of equipment, branding and packaging solutions to the marijuana industry and is the developer of the very first cartridge and vape pen oil-filling machines for wholesale distribution to cannabis dispensaries. Convectium’s 710Shark and 710Seal machines, currently sold through the EquipCanna.com website, are capable of filling and packaging over 100 cartridges or disposable vape pens in only 30 seconds. Additionally, Convectium operates a consumer brand that includes BlackoutX and HazeSticks products.
SinglePoint also operates http://www.SingleSeed.com , which is focused on the online sale of cannabis products to dispensaries and has become a hub for dispensaries seeking merchant payment processing solutions and other business tools. SinglePoint offers mobile marketing services as well as payment solutions for marijuana businesses through SingleSeed payments, including cashless ATM, Pay-by-Text™ and text message marketing.
Regarding its most recent endeavor, SinglePoint recognizes growing demand and application of digital currency on a global scale. The growth and potential of this segment is evidenced in the activities of companies like Bitcoin Investment Trust (OTCQX: GBTC), which is the first publicly quoted bitcoin investment vehicle.
Bitcoin Investment Trust is a U.S.-based, open-ended grantor trust sponsored by Grayscale Investments that is invested exclusively in bitcoin, and its shares are the first publicly quoted securities solely invested in and deriving value from the price of bitcoin. Bitcoin Investment Trust has enabled investors to gain exposure to bitcoin’s price movement through a traditional investment vehicle without the challenges of buying, storing and safekeeping bitcoins. Bitcoin Investment Trust was recently named to OTC Markets Group’s ‘OTCQX Best 50’ for 2017. Bitcoin digital currency has already been named an official method of payment in Japan, and it is being accepted by more and more major retailers in the United States. The achievements of Bitcoin Investment Trust are furthering the acceptance of bitcoin’s presence as a valid payment method in the U.S.
Another key bitcoin player, First Bitcoin Capital (OTC: BITCF), has partnered with SinglePoint to leverage the growing demand for digital currency in the cannabis space. To advance this payment solution, SinglePoint recently raised $1 million in funding (http://nnw.fm/G8dn5), allocated in part to the development of a bitcoin payment solution for the marijuana industry. First Bitcoin Capital is the first publicly traded cryptocurrency and blockchain-centered company focused on developing digital currencies, proprietary blockchain technologies and the digital currency exchange http://www.CoinQX.com . The company’s suite of financial solutions for medical marijuana businesses includes merchant processing and point-of-sale solutions, such as automated check-cashing kiosks offered to medical marijuana dispensaries in California.
To understand the importance of hydroponics to the marijuana industry, look no further than leading lawn and garden care products manufacturer Scotts Miracle-Gro (NYSE: SMG), which has been heavily investing in hydroponics via supplies to legal cannabis growers. Scotts has emerged as one of the biggest traditional business players to step foot in the cannabis industry, and, through its wholly-owned The Hawthorne Gardening Company subsidiary, has been busily acquiring various leading firms in hydroponics areas, including soil, lighting and nutrients. Other acquisitions are also reportedly in the hopper for Scotts and are expected to be completed by the end of 2017.
Vertically-integrated cannabis-focused agriculture company Terra Tech (OTCQX: TRTC) is employing hydroponics cultivation techniques as a direct provider of medical cannabis. The company operates several subsidiaries in medical marijuana and is focused on cultivating and providing the highest quality medical cannabis and revolutionizing cannabis cultivation through cutting-edge practices in a controlled, modern greenhouse environment. Terra Tech has an industry-exclusive moving table hydroponic growing system that boasts an increase of up to 30 percent in annual harvest yield. The company is positioned to operate medical cannabis cultivation facilities throughout the U.S., and Terra Tech’s growth strategy includes expanding its hydroponic cannabis cultivation efforts across the country. Terra Tech’s current growth plan specifically includes acquiring cannabis dispensaries in California, completing cannabis facilities in Nevada, and cultivating cannabis in its existing company-owned greenhouse in New Jersey once cannabis cultivation has been legalized in that state.
Whether an investor is looking for marijuana play through a hands-on-the-plant company or one offering ancillary services, more and more opportunities is cropping up all the time. Bitcoin and hydroponics are two of the hottest investment areas within the marijuana market right now, and the named companies offer prime opportunities for investing in both.
NetworkNewsWire (NNW) is an information service that provides to users (1) access to our news aggregation and syndication servers, (2) enhanced press release services, and (3) a full array of social communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable NNW and FNM for any investment decisions by their readers or subscribers. NNW and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, NNW, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains ‘forward-looking statements’ within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. ‘Forward-looking statements’ describe future expectations, plans, results, or strategies and are generally preceded by words such as ‘may’, ‘future’, ‘plan’ or ‘planned’, ‘will’ or ‘should’, ‘expected,’ ‘anticipates’, ‘draft’, ‘eventually’ or ‘projected’. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and NNW and FNM undertake no obligation to update such statements.
Media Contact e-mail:
FN Media Group, LLC – firstname.lastname@example.org
This Article Was Originally From *This Site*