HIVE Blockchain Technologies Commences Trading on the TSXV

Fintech Investing

HIVE Blockchain Technologies (TSXV:HIVE) has announced it has commenced trading its shares on the TSX Venture Exchange under the symbol “HIVE,” effective at the open on September 18, 2017. As quoted in the press release: This follows the completion of a $16.5 million equity financing, as announced on September 7, 2017, and the closing of the acquisition from …

This follows the completion of a $16.5 million equity financing, as announced on September 7, 2017, and the closing of the acquisition from Genesis Mining Ltd. (“Genesis“) of a state-of-the-art GPU-based blockchain data centre in Reykjanes, Iceland and formation of a strategic partnership with Genesis (collectively, the “Transaction“), as announced on September 15, 2017.
The Company is also pleased to announce that it commenced mining operations and began accumulating cryptocurrency on September 15, 2017 following closing of the Transaction.
“HIVE’s mission is to accelerate the blockchain sector through traditional capital markets and create long-term shareholder value,” commented Harry Pokrandt, President, CEO and Director of HIVE. “We are now focused on establishing a market presence and scaling our mining business. Our facility provides us significant flexibility to mine multiple cryptocurrencies including, but not limited to, Ethereum, Monero and ZCash. We will continue to examine other alt-coins for potential opportunities.”
The Board of Directors of HIVE is also pleased to announce the appointment of Frank Holmes as the Company’s non-executive chairman. Mr. Holmes is the founder and CEO of U.S. Global Investors, an award winning asset management firm specializing in gold and emerging markets.
“Blockchain technology has the potential to fundamentally improve transactions for all,” stated Holmes. He continued, “HIVE’s partnership with Genesis provides immediate exposure to operating margins of crypto mining and a growing portfolio of coins. That makes this a unique global company out of the gate.”
“The concept with HIVE is to give Genesis a footprint outside of the cryptocurrency world and build a bridge from the blockchain space to traditional capital markets,” commented Marco Streng, co-founder and CEO of Genesis Group and an advisor to HIVE. Streng continued, “Genesis will support HIVE and will continue to operate separate facilities for our cloud mining customers, who will not be impacted in any way by the HIVE transaction.”