Skip to content
The Vancouver-founded firm announced it has partnered with a group of banks to offer the stock to the public over time. Hive, which is in the midst of significantly expanding its bitcoin mining and data centre infrastructure in New Brunswick, Toronto and Sweden, said in a filing it will use the money to fund operations, pay down debt and expand its facilities. (The Logic)
Talking point: As competitors like Bitfarms, Riot and TeraWulf pivot from bitcoin mining to AI data centres amid a crash in crypto prices and a boom in compute demand, Hive is reaping the benefits after starting that process years ago. Hive dropped “blockchain” from its name in 2023 to signal a shift in focus to AI, part of a turnaround plan after Ethereum switched to a method for securing the protocol that does not require mining, cutting the company’s revenue in half. Hive posted a record quarter earlier this month, with revenue up 285 per cent from last year, thanks to growth in both its bitcoin mining and AI divisions.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
News
Everything you need to know about the debate over stablecoin yields
Briefing
IPOs need to be easier for startups if Canada wants 1,000 Shopifys, Champagne says
Nuvei to acquire cross-border payments company Payoneer for US$2.75B
Joly to visit carmakers on 10-day trip to China and Japan
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
