Canada’s Hive Blockchain Technologies approved for Nasdaq listing

Whereas the SEC continues to slow-roll the itemizing of a Bitcoin ETF, merchants on legacy exchanges wanting to get some publicity to crypto will quickly have one other outlet. 

In an announcement on Friday, Canada’s Hive Blockchain Applied sciences revealed that it has obtained approval to record shares on the Nasdaq inventory change. Hive presently trades on the TSX Enterprise Trade below the ticker HIVE.V, and focuses on each Bitcoin and Ethereum mining.

Per Hive’s web site, the corporate has a selected concentrate on inexperienced power — an more and more necessary matter to critics of crypto’s vital power consumption. This month, famous Bitcoin accumulator Michael Saylor revealed the small print of the forthcoming Bitcoin Mining Council, which, amongst different duties, will assist to make clear the ecological affect of cryptocurrency mining. 

“HIVE owns state-of-the-art inexperienced energy-powered knowledge centre amenities in Canada, Sweden, and Iceland which produce newly minted digital currencies like Bitcoin and Ethereum repeatedly on the cloud,” reads Hive’s announcement. “Because the starting of 2021, HIVE has collected nearly all of its ETH and BTC coin manufacturing, which we maintain in safe storage.”

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Hive closed on Friday at 3.05 CAD, down 3.79% on the day and 44% from 6.8 highs earlier within the yr. 

Traditionally, Bitcoin miners have outperformed the bottom asset, typically by vital margins. Evaluation final month confirmed that whereas Bitcoin was up 900% on the yr, 4 of the biggest mining shares rallied 5,000%.

Together with the rally in value, many miners are more and more changing into highly effective voices on the worldwide political stage. This month, the CEO of Nasdaq-listed Canaan Inc referred to as on China to lighten its Bitcoin mining ban.