In brief
- Hive Blockchain Technologies, a crypto mining company, says it’s received approval to list shares on Nasdaq.
- Hive is one of just a few publicly traded miners.
Canadian crypto miner Hive Blockchain Technologies says it has received approval to list shares on Nasdaq.
The company went public in 2017—since then, its shares have been trading on the Canadian exchange TSX.V.
As with other crypto-reliant stocks, fluctuations in the price of HIVE.V have more or less aligned with Bitcoin’s price movements; it’s now sitting at CA$3.01, or around $2.42 a share.
Hive is one of just a few publicly traded mining companies. Others include Riot Blockchain and Marathon Digital Holdings (FKA Marathon Patent Group), both of which already trade on Nasdaq.
Mining proof-of-work cryptocurrencies like Bitcoin and Ethereum requires a huge amount of energy, and companies often turn to fossil fuels for cheap access to power. The industry has faced criticism from environmentalists, progressive lawmakers, and businesspeople who don’t want to get their hands dirty.
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Bitcoin recently broke $60,000 for the first time, cementing its perch as the “big dog” of cryptocurrencies. It has been embraced by groups as disparate as politicians, NFL stars, and Tesla CEO Elon Musk. And the fact that cryptocurrency is entirely digital makes it sound, in theory, as though it would be the greenest currency the world has ever seen. After all, unlike paper money, no trees have to be cut down to create Bitcoin. But people and press have become increasingly concerned about whe...
Hive claims it uses “100% green renewable energy” via “state-of-the-art green energy-powered data centre facilities in Canada, Sweden and Iceland,” though the company’s website is light on details.
