Canadian miners focusing on green energy are expected to be able to trade in the coming weeks, as Nasdaq officially lists Canada’s Hive blockchain technologies.
While the SEC continues to slow down the listing of a Bitcoin ETF, traders on legacy exchanges wishing to obtain some exposure to crypto will soon have another exit.
According to the announcement made on Friday, Canada’s Hive Blockchain Technologies revealed that it has obtained approval to list shares on the Nasdaq stock exchange. Hive currently trades on the TSX Venture Exchange under the ticker HIVE.V, and aims for both Bitcoin and Ethereum mining.
“HIVE is excited to announce today that it has received approval to list its common shares on the Nasdaq Capital Markets Exchange, where it will begin trading soon. HIVE will also retain its listing on the TSX Venture Exchange” (TSX.V). pic.twitter.com/6XyEFfSCL4
— H I V E (@HiveBlockchain) June 17, 2021
As written on Hive’s website, the firm has a peculiar focus on green, energy — a progressively significant topic for critics of crypto’s notable energy consumption.
A few days back, the well-known Bitcoin investor Michael Saylor disclosed the details of the forthcoming Bitcoin Mining Committee, which will help elucidate the ecological effect of cryptocurrency mining.
“HIVE owns state-of-the-art green energy-powered data centre facilities in Canada, Sweden, and Iceland, which produces newly minted digital currencies like Bit Coin and Ethereum continuously on the cloud,” states Hive’s announcement.
“Since the beginning of 2021, HIVE has accumulated the majority of its ETH and BTC coin production, which we hold in secure storage.”
On Friday, Hive closed at 3.05 Canadian dollars, down 3.79% on the day, down 44% from its high of 6.8 earlier this year.
In the past, Bitcoin miners have risen above their asset base and typically have high profit margins. An analysis last month showed that while Bitcoin is up 900% year-on-year, the four major mining stocks are up 5,000%.
With the soaring prices, many miners have become more and more powerful voices in the world political arena. This month, the CEO of Nasdaq-listed Jianan Zhizhi called on China to kick back its ban on Bitcoin mining.
