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As that the SEC continues to slow down the record of Bitcoin ETFs, traders on heritage exchanges seeking to get exposure to the cryptocurrency will shortly have another outlet.
In a statement Friday, Canada’s Hive Blockchain Technologies revealed that it has received approval to list its shares on the Nasdaq stock market. Hive is now trading on the TSX Venture Exchange under the symbol HIVE.V and concentrates on both Bitcoin and Ethereum mining.
Canada’s Hive Blockchain Technologies Approved for Listing on Nasdaq
Hive Blockchain Technologies (TSXV: HIVE) is the most recent small-cap Canadian issuer to top the important US boards. The company announced that it has received Nasdaq approval to list its equity on the Nasdaq Capital Market exchange.
The company provided very few additional details about this information, with it uncertain when the particular transaction will start with equity on the important US board. It is also uncertain in which symbol its equity will trade, even though it is assumed it will use the same symbol that it now uses in the Canadian marketplace.
The firm said that it plans to keep its listing on TSX Venture.
Hive Blockchain Technologies targets both Bitcoin and Ethereum mining
This announcement follows recent news that fellow Hive, Hut 8 Mining, and Bitfarms have recently moved into the top exchange. Per Hive’s site, the provider specifically focuses on green energy, an increasingly important topic for critics of the overwhelming energy consumption of cryptocurrencies. This month, Bitcoin accumulator Michael Saylor revealed details of the upcoming Bitcoin Mining Council that, among other purposes, will help shed light on the environmental effect of cryptocurrency mining.
“HIVE has state-of-the-art green energy data centers in Canada, Sweden, and Iceland that continuously produce new digital currencies like Bitcoin and Ethereum in the cloud,” that the Hive announcement reads. “Since the start of 2021, HIVE has gathered most of the creation of ETH and BTC coins which we hold in protected storage.”
Historically, Bitcoin miners have outperformed the core advantage, often with substantial returns. Analysis last month revealed that while Bitcoin is up 900% over the year, four of the largest mining stocks are up 5,000%.
Along with the cost increase, many miners are getting to be more and more powerful voices in politics. This month, the CEO of Nasdaq-recorded Canaan Inc called on China to relax its ban on Bitcoin mining.
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