Genesis Mining Lists on Canadian TSX Exchange Through $Five
Genesis will receive Four,666,667 shares at C$1.50 for a total of C$7,000,000. The overeenkomst, announced today via press release, is set to close on October 11, 2018, following approval from TSX Exchange. The two firms share an special rangschikking on blockchain mining cashflows and rights.
Hive intends to expand hash capacity by constructing four extra gegevens centers te Iceland and Sweden. The publicly listed company describes itself spil a bridge for traditional capital markets to the blockchain sector. The company’s acquisition overeenkomst has bot ter the pipeline since earlier this year.
“Wij welcome the financial support of Genesis Mining, the leading cryptocurrency mining hash power provider with overheen a million customers, te addition to the invaluable expertise they are already providing,”
commented Harry Pokrandt, Voorzitter, CEO and a Director at HIVE.
“Genesis shares our vision to rapidly develop HIVE into a major player ter the cryptocurrency mining space, leveraging traditional capital markets.”
The purchase, finished spil a non-brokered private placement, wasgoed conveniently set up spil a switch roles merger to benefit from Hive’s TSX Exchange listing. Genesis Mining Ltd now possesses 30% of its holdings. A master service agreement sets out terms for Genesis to operate Hive’s facility on their behalf for a immobile toverfee. Spil vanaf the company’s latest financials (pdf), Hive is a strategic partnership inbetween Fiore Group and Genesis Mining.
The publicly traded company has ongezouten access to contant flows from facility and blockchain assets through ownership. Meantime, Genesis can tapkast into the exchange’s vast capital base.
Spil at press time, Hive listed stock wasgoed trading 15% higher after the announcement.
Genesis Mining is a veteran ter cryptocurrency mining, te business since 2014. Most of its mining operations were based out of Bosnia and China but have since moved most to Reykjanes, Iceland. On its toneelpodium, clients access to mining hardware through rental contracts. Cloud miners generate Dash, Zcash, Bitcoin, Monero, and Ethereum. Genesis’ long history dates back to mining Ethereum with custom-built hardware back when ETH wasgoed trading at just $Three.
Marco Streng, Co-Founder of Genesis Group commented:
“Wij strongly believe te the success of HIVE and think there is a loterijlot of growth potential from where wij are now,”
Mining has experienced incredible fortunes have prices of cryptocurrencies soared te the last 12 months. Stock prices of chips such spil AMD went up driven by a surge te request for mining hardware.
Hive fills a critical gap te equity markets by suggesting a listed blockchain infrastructure company. Investors can now get exposure to the burgeoning cryptocurrency industry through familiar investment vehicles. Hive shareholders access both specie flows from mining business and price growth of crypto assets generated from the facilities.