Canada’s Hive Blockchain Technologies has received approval to list shares on the Nasdaq stock exchange, as Hive currently trades on the TSX Venture Exchange under the ticker HIVE.V, and focuses on both Bitcoin (BTC) and Ethereum (ETH) mining.
It has been reported by Hive’s website that the company has a particular focus on green energy, an increasingly important topic to critics of crypto’s significant energy consumption. This month, MicroStrategy CEO Michael Saylor revealed the details of the Bitcoin Mining Council, which, among other duties, will help to shed light on the ecological impact of cryptocurrency mining.
“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.”
However, Hive closed on Friday at 3:05 CAD, down 3.79% on the day and 44% from 6.8 highs earlier in the year. Bitcoin miners have outperformed the base asset, often by significant margins.
An analysis last month showed that while Bitcoin was up 900% on the year, four of the largest mining stocks rallied 5,000%.
Thus, many miners are increasingly becoming powerful voices on the global political stage.