You don’t have to have six exchange apps and four wallets on your phone to invest in crypto; the stock market is a viable place for digital currency plays. Coinbase (NASDAQ:COIN) is the first publicly traded crypto exchange, and buyers can expect to see Kraken hitting the market as well in the next year or so. In addition to exchanges, one can find many different crypto mining projects trading on Wall Street. Hive (OTCMKTS:HVBTF) is one such option, and HVBTF stock is moving today on some interesting news.
Crypto mining investments are one of the best ways to get into the digital currency niche without having to buy an expensive and finicky mining rig for yourself. Mining operations exist in almost every corner of the earth, from upstate New York to the snowy landscape of Iceland. And these mining operations aren’t always easy to invest in. That’s why Hive, a cloud-based crypto mining project headquartered in Vancouver, is such an appealing play.
HVBTF Stock Seeing Investor Interest During Move to Nasdaq
Hive is hitting the Nasdaq Exchange very soon. The company announced this morning that it has secured approval for trading, and will be offering its common stock on the Nasdaq in the near future. The company has been a play on the OTC Market since 2017. As such, the company calls itself one of the first to bridge blockchain and the traditional stock market.
Hive prides itself on the presence of its global data centers. The company holds centers in Canada, Sweden, and Ireland; it recently sold off its Norwegian unit after the country scrapped its tax subsidy for crypto mining. Also of note is the fact that the company does not sell the Bitcoin (CCC:BTC-USD) and Ethereum (CCC:ETH-USD) as soon as it is mined; rather, the company holds onto its yield for the best selling opportunity to net the most profit.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.