Canada’s Hive Blockchain miner got approved for a Nasdaq listing and should be available to trade in the upcoming weeks so let’s read more in our latest cryptocurrency news today.
While the SEC continues to slow-roll the Bitcoin ETF listing, the traders on legacy exchanges are quite eager to get some more exposure to crypto that will soon have another outlet. In an announcement on Friday, Canada’s Hive Blockchain technologies miner revealed that it received approval to list the shares on the Nasdaq stock exchange while Hive already trades on the TSX Venture Exchange under the ticker HIVE. V and focuses on both BTC and ETH mining.
Per Hive’s website, the company has a particular focus on green energy with an important topic to critics of crypto’s major energy consumption. This month, noted BTC accumulator Michael Saylor showed off the details of the upcoming BTC mining Council which among other things will help to shed light on the ecological impact on Crypto mining. The Hive announcement read:
“HIVE owns state-of-the-art green energy-powered data centre facilities in Canada, Sweden, and Iceland which produce newly minted digital currencies like Bitcoin and Ethereum continuously on the cloud. Since the beginning of 2021, HIVE has accumulated the majority of its ETH and BTC coin production, which we hold in secure storage.”
BTC miners outperformed the base asset by a wide margin as analysts showed that while BTC is up 90% of the year, four of the biggest mining stocks increased by 5000%. Along with the price rally, many miners are becoming powerful voices on the political stage as the CEO of Nasdaq-listed Canaan called on China to lighten its BTC mining ban.
Speaking of Canada, Canada has been quite welcoming of BTC in traditional markets and a third bitcoin ETF in Canada is about to be launched. The Bitcoin ETF has been approved by Canadian securities regulators as the CI Global Asset Management prepares their own BTC-based offering. The ETF will be launched under the BTCX symbol on the Toronto Stock Exchange and it will join the Purpose Bitcoin ETF and Evolve Bitcoin ETF both of which were launched a month ago. The slate of BTC ETF launches in North America is only a strong sign that Bitcoin is becoming a friendly asset and introduces a whole new class of investors to the world of crypto.
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