• Bitcoin -233.20 $ 5,839.61 -3.84%
  • Ethereum -3.72 $ 295.77 -1.24%
  • Ripple -0.0015 $ 0.2028 -0.73%
  • Ethereum Classic -0.18 $ 10.76 -1.65%
  • Litecoin -1.62 $ 56.85 -2.77%
  • Dash -9.90 $ 277.54 -3.44%
  • NEM +0.0086 $ 0.2124 +4.22%

Canada’s Publicly Traded HIVE Blockchain Technologies Ltd. Giving Investors Access to Big Data Crypto Mining

A newly formed partnership between Genesis Mining and HIVE Blockchain Technologies Ltd. is nearing completion with the aim of offering everday investors an easy way to gain exposure to the soaring profits related to cryptocurrency mining.

The partnership, initially announced in June, will combine one of the world’s largest digital currency mining companies with HIVE’s publicly traded vehicle and $16.5 million in cash.

Investors will now be able to skip the crowded and opaque ICO line and trade shares in the first commercial-scale cryptocurrency mining company to be listed on a major stock exchange.

Trading under the ticker symbol "HIVE" on the TSX Venture Exchange, the publicly traded company will offer investors easy access to buy and sell shares, ample liquidity and audited financial reporting.

Already one of the largest crypto mining companies in the world, Genesis Mining operates state-of-the-art data centers in Iceland, where it utilizes the country’s low-cost geothermal energy sources and cold climate to provide over 700,000 customers with cloud-based mining services.

HIVE meanwhile brings a publicly traded vehicle, capital markets experience and access to plenty of cash. Its recently completed private placement was brokered the Fiore Group, a Canadian merchant bank led by renowned investor Frank Guistra.

The partnership says it's now set to begin generating cash flow and reaping big profits from large-scale cryptocurrency mining.

Initial focus will center around the use of Genesis’s Hive software, which uses proprietary GPU mining chips to optimize both temperature and power consumption, in turn allocating resources towards mining the most profitable digital currencies in real-time.

The two sides have also announced plans to deploy additional cash and acquire more data centers throughout Iceland and Sweden.

“The time has come for the blockchain and cryptocurrency sector to come together with public equity markets," says Genesis Mining Co-Founder Marco Streng. "HIVE will become a leading infrastructure company for the blockchain era, and introduce this exciting sector to a new audience of investors."

For more information on the partnership visit www.hiveblockchain.com.


FOLLOW US on Twitter »

Share This Post