HIVE Blockchain Technologies Ltd. (OTCMKTS:HVBTF) jumped 17% at the back of the approval to start trading in the Nasdaq Capital Markets Exchange.The company which went public on the TSX Venture Exchange in 2017 said it would retain the TSXV listing.
However, now that HIVE will bet trading on the Nasdaq, US investors will have an avenue to invest in the BTC ecosystem indirectly vial the company’s common shares. As per the announcement, the company traded more than two billion shares in 2020, and it seems it has adopted the HODL approach with bitcoins it mined since the start of the year.
Recently Alpha Sigma capital announced the investment of HIVE into its fund that launched at the start of last year. The fund invests in decentralized projects and companies leveraging blockchain tech to offer possible change and efficacy in AI, supply chain, financial services, and biotechnologies.
Hive owns clean energy-powered facilities producing newly minted BTC and ETH on the cloud. In the coming months, this is a stock to watch.
Market Reaction:
On Tuesday, HVBTF stock soared 17.31% to $2.74 with more than 6.89 million shares, compared to its average volume of 2.11 million shares. The stock has moved within a range of $2.4500 – 2.7600 after opening the trade at $2.45. Over the past 52-week, the stock has been trading within a range of $0.2000 – 5.7500.
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