The
publicly listed Bitcoin (BTC) miner from Wall Street, HIVE Digital Technologies
(NASDAQ: HIVE)
announced today (Tuesday) its strategic decision to relocate its headquarters
from Vancouver, Canada to San Antonio, Texas, marking a shift in the company’s
operational focus toward the U.S. market.
HIVE Digital Technologies
Shifts Headquarters to Texas
The
blockchain infrastructure company’s move comes amid growing optimism about the
U.S. cryptocurrency sector under the incoming Trump administration, which has
signaled a more supportive stance toward digital asset innovation. The
relocation includes plans to transition to U.S. Generally Accepted Accounting
Principles (GAAP) reporting by March 2025.
“The
depth and breadth of U.S. capital markets are unparalleled and key to our
growth strategy,” said Frank Holmes, Executive Chairman of HIVE. “The
U.S. market, with its $40 trillion capitalization and daily trading volumes of
$500 billion, offers HIVE the liquidity, visibility, and valuation
opportunities we need to scale.”
Texas,
known for its business-friendly environment and robust energy infrastructure,
provides an ideal setting for Wall Street Bitcoin miners. The move is expected
to enhance HIVE’s access to capital markets and strengthen relationships with
U.S.-based investors and partners.
“Relocating
our head office to the U.S. and changing our reporting to US GAAP aligns
greatly with our strategic goals of operational efficiency, sustainability, and
expanding our market presence,” Darcy Daubaras, CFO of HIVE, added. “These
moves enhance our financial transparency and position us for long-term success
in the global market.”
While the
company’s headquarters will shift to San Antonio, HIVE’s CEO and CFO will
remain in Canada to ensure operational continuity. The company plans to hire an
Internal Auditor with Sarbanes-Oxley expertise in San Antonio to support U.S.
regulatory compliance efforts.
The
relocation is expected to boost trading liquidity and attract global investor
interest, particularly given the company’s enhanced presence in the U.S.
market. With data centers already operational in Canada, Sweden, and
upcoming facilities in Paraguay, HIVE continues to expand its global
footprint in digital asset mining and AI computing solutions.
Wall Street Bitcoin Miner
HIVE Expands Mining Fleet
HIVE
Digital Technologies announced last month a major expansion of its mining
operations. The
firm ordered 5,000 Avalon A15-194T ASIC miners from Canaan, representing
its second significant equipment acquisition within the same month. This move
comes as the company positions itself for potential growth amid
Bitcoin new all-time highs above $100,000.
With these
upgrades, HIVE expects its operational capacity to increase from 5.6 exahash
per second (EH/s) to 6.4 EH/s by the end of 2025. HIVE’s expansion reflects a
broader trend among publicly listed Bitcoin miners on Wall Street. Canaan, a
manufacturer of mining machines, recently
raised $30 million for investments, while MARA, the market’s largest miner,
secured
$850 million in interest-free funding and is planning substantial Bitcoin
purchases.
This article was written by Damian Chmiel at www.financemagnates.com.
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