Till now, we have heard about companies getting listed on NASDAQ to be traded publicly, but for the first time, a Bitcoin mining firm has been approved to go public. This is a big step by the SEC as anyone trading the shares of a Bitcoin Mining firm will also be indirectly betting on Bitcoin. The name of the firm is Hut 8 mining, and it is a North American firm. Apart from NASDAQ, the Toronto stock exchange also lists the mining hub.
More about the Bitcoin Mining firm listing
On 10th June, the firm announced that they had been approved by the SEC to list on NASDAQ. The common shares of the company will be available for trading under the ticker name “HUT.” For them to get listed on NASDAQ will mean getting a lot of recognition. Hut 8 is already one of the oldest and largest Bitcoin mining-focused firms. They have most of their officials from Canada. That said, it makes sense why they are also listed on the Toronto stock exchange (TSX). The firm has made it clear that they are not going to change any listings on TSX.
HUT 8 firm
The company is one of the members of the Bitcoin mining council and a key community member of Bitcoin mining. They are committed to promoting Bitcoin mining and talk about its benefits. It is not just that they also take steps to educate the public on the best practices when mining BTC. The firm uses over 109 MW and has a total hash rate of 1073 PH/s. This is the total power of the firm and goes up and down depending on a lot of circumstances like maintenance, electricity costs, mining difficulty, and more.
What do you think about a Bitcoin mining firm getting listed on the NASDAQ? and if you were a trader, would have looked at the shares or let it pass? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.