HIVE Is Going To List Shares On The Nasdaq.
The headline says it all, however, if you didn't know, there is another blockchain company in the crypto space with the name HIVE. They are based out of Canada and some of what they do is mining of ETH and BITCOIN. While they have been public for a while they have just announced getting listed on Nasdaq.
https://sg.finance.yahoo.com/news/crypto-miner-hive-blockchain-list-120517139.html
Crypto Miner Hive Blockchain to List Shares on Nasdaq
Tanzeel Akhtar Fri, 18 June 2021
Hive Blockchain Technologies, a publicly traded Canadian crypto-mining company, said it received approval to list its common shares on Nasdaq.
The article goes on to say that HIVE's share price is up 33% this year.
It seems the company is also investing in a DEFI project as well.
I went to the Website to learn more about the company, and found their company quite interesting , they also have mining facilities in Iceland which are benefiting from the volcanic activity there. (someone should tell Elon)
HIVE owns state-of-the-art blockchain infrastructure facility in Iceland consuming total energy of ~4 MW, and producing cryptocurrency around the clock.
Turns out El Salvador brought this idea to the forefront for a bit, but other Bitcoin Mining Operations were already looking for clean, cost-effective ways to Mine, strictly because it makes good business sense.
On To The Financials:
I was curious how the price was responding to the new listing, so I looked at their charts.
A Quick Look At HVBTF Stock
HIVE’s stock has experienced lightning-fast price action.
As recently as January of 2020, HVBTF stock was available for just 9 cents. It then soared to a 52-week high of $5.75 in February 2021. However, the share price has retraced to the $3 range since that time
Google TipRanks
Investors who appreciate the fast pace of Bitcoin (XBT) and Ethereum (ETH) will like HIVE Blockchain Technologies (HVBTF). This stock can serve as a proxy for accounts that do not permit cryptocurrency trading, such as some retirement accounts.
HIVE is involved in green energy, which is a red-hot market in 2021. Plus, HIVE now has a DeFi (decentralized finance) angle, which could enhance the company’s shareholder value even further.
Originally, my interest was the name and concern if there will be Brand confusion and possibly actions against the HIVE Blockchain, once I started looking at the company, the news, and how they are setting themselves up in the space.
I think this company might be worthy of Investment as they too are early to the space and seem to have a great plan which is adapting to Market Conditions. It's a good time to be in Clean Energy Bitcoin and Eth Mining.
Regarding the name, who knows if it will be good or bad for HIVE to share a name with a Blockchain Company and if there is a battle over the name, I have no idea how that will play out. In the past I have seen large companies offer to pay another company to stop using the same name and I have also seen lawsuits, (who would they sue though?) In any case I see several reasons to keep an eye on this company. https://hiveblockchain.com/
It's a really interesting company, that seems well positioned in the current market environment, with everyone interested in Bitcoin and other cryptocurrencies, but also concerned about environmental impacts.
What do you think will happen with the name?
Do you think it is good or bad to share a name with this publicly traded company?
Let me know what you think in the comments
Posted Using LeoFinance Beta
