In its most recent announcement, bitcoin mining company HIVE Blockchain Technologies announced it has been given the green light by Nasdaq to have its common stocks listed on its Capital Markets Exchange.
But even with the development, HIVE assured it will retain its listing on the Toronto Stock Exchange (TSX) Venture where it went public for the first time back in 2017. Meanwhile, the Nasdaq listing will provide U.S. investors with a more accessible avenue of investing in the bitcoin ecosystem through its common shares.
The mining company describes itself as growth-oriented in an emergent industry that bridges the blockchain sector with the traditional capital markets. HIVE’s data centers in Canada, Sweden and Iceland are all green energy-powered facilities for bitcoin and other cryptocurrencies mining on the cloud.
Thinking like a bitcoin HODLer
Part of HIVE’s announcement was its statement of trading more than 2 billion shares back in 2020. Also, as it would appear, as for its mined BTC since the start of the year, the mining company seems to have adopted a HODL mentality.
“Since the beginning of 2021, HIVE has accumulated the majority of its BTC coin production, which we hold in secure storage,” the company said, adding that their deployments enable shareholders to be exposed to the operating margins of digital currency mining.
Still no bitcoin ETF
Since the U.S. Securities and Exchange Commission (SEC) has not yet approved a bitcoin exchange-traded fund (ETF) in the country, those who are not yet too familiar with how buying and holding bitcoins work find other alternatives.
With this, institutional investors have commonly invested in GBTC of asset manager Grayscale which is essentially shares that attempt to track bitcoin market prices minus fees and expenses.
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