Hive Digital Technologies has announced plans to move its headquarters from Vancouver, Canada, to Texas.
Texas has already become a hub for Bitcoin
$93,154.76
mining in the United States, which hosts several major players like Applied Digital, Riot Platforms, and Marathon Digital.
In a statement released on December 31, Hive Digital explained that Texas stood out for its business-friendly environment, reliable energy infrastructure, and access to skilled workers. These factors make it an ideal location for the company’s operations.
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The company also noted that the incoming administration, led by President-elect Donald Trump, has shown a favorable stance toward cryptocurrency, which influenced their decision.
The Trump administration’s support for cryptocurrency was further emphasized during a June 13 meeting between Trump, public policy head Brian Morgenstern, and Riot Platforms CEO Jason Les. Following the discussion, Trump aimed to ensure that future Bitcoin mining occurs within the US.
Hive Digital’s executive chairman, Frank Holmes, pointed to the US financial markets as a major factor. Holmes said:
The US 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.
While Hive Digital prepares to relocate its headquarters to Texas, BIT Mining has recently branched out into Dogecoin
$0.3131
and Litecoin
$102.58
. Why? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
