Hive Blockchain will trade on Nasdaq under the ticker HVBT
Bitcoin and Ethereum mining company Hive Blockchain Technologies, based in Vancouver, will begin trading on Nasdaq’s capital markets exchange today under the ticker HVBT.
The company said it will retain its listing on the TSX Venture Exchange, where it trades under HIVE.
Hive, which went public in 2017, calls itself the “first cryptocurrency mining company with a green energy and ESG strategy.” The company’s data centers, based in Canada, Sweden and Iceland, have access to approximately 50 megawatts of power.
The company’s share price on TSX had slid in the last few months, as a sweeping ban on cryptocurrency mining and trading caused widespread disruption. But it rose 21.6% over the last five days, as it became apparent that the shutdowns of its Chinese competitors would create opportunities in the market.
If its Canadian competitor Bitfarms is any indication, the impact of Hive’s Nasdaq listing will be immediate. Bitfarms, which has five cryptocurrency mining facilities in Quebec, has access to 69 megawatts of power. It trades on Nasdaq under BITF.
The company’s president, Geoff Morphy, told Crypto Investor that the company has seen “better access to capital, global trading, and considerable equity and media coverage” since it began trading on Nasdaq on June 21.
“If companies in this industry want to fully take advantage of the growth opportunities that exist now and will develop in the future, they will need to be listed on Nasdaq,” he said. “A listing requires high levels of governance, financial and information reporting, and the need to abide by strict regulations, which are all very important attributes to investors as they consider investment alternatives.”
Get Access to Our Exclusive Content
Already subscribed? Log In