NetworkNewsWire Editorial Coverage: 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. (SING) (SING
Profile), Bitcoin Investment Trust
(GBTC), First Bitcoin Capital Corp.
(BITCF), Scott’s Miracle-Gro Co. (SMG)
and Terra Tech Corp. (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 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
(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
(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 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 (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 (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 are 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.
For more information on SinglePoint please visit: Singlepoint
(SING) or www.SinglePoint.com
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