Investment

Canadian Hive Blockchain Technologies approved for listing on the Nasdaq

While the SEC continues to slow down the listing of bitcoin ETFs, traders on older exchanges looking for some crypto exposure will soon have more outlets.

In Friday’s announcement, Canadian company Hive Blockchain Technologies revealed that it had obtained approval for a list of shares on the Nasdaq Stock Exchange. Hive currently trades on the TSX Venture Exchange under the ticker HIVE.V and focuses on bitcoin and etherea mining.

On Per Hive’s website, the company focuses primarily on green energy – an increasingly important topic for critics of significant cryptocurrency energy consumption. Michael Saylor noticed a bitcoin battery this month revealed details of the upcoming bitcoin mining advicewhich, among other things, will help shed light on the environmental impact of cryptocurrency mining.

“HIVE owns state-of-the-art green energy data center equipment in Canada, Sweden and Iceland that continuously produces newly minted digital currencies such as bitcoins and ethereum in the cloud,” says Hive’s notification. “Since the beginning of 2021, HIVE has accumulated most of its ETH and BTC coin production, which we store in a secure store.”

RELATED: China’s bitcoin mining may have surprising price implications for BTC – an analyst

The hive closed at 3.05 CAD on Friday, down 3.79% during the day and 44% from 6.8 highs at the start of the year.

Historically, Bitcoin miners overcame the basic asset, often with considerable reserves. Last month’s analysis showed that while bitcoins rose 900% year on year, four of the largest mining stocks rose 5,000%.

As prices rise, many miners become increasingly strong voices on the global political scene. This month he is the CEO of Nasdaq Canaan Inc. has called on China to ease its ban on bitcoin mining.



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