The publicly-traded Canadian cryptocurrency miners on our list have focused on areas with the highest growth
SmallCapPower | December 29, 2017: Investing in Bitcoin has entered the mainstream in 2017, driven by the ~1500% return YTD. Meanwhile, a variety of other cryptocurrencies have gained popularity for even greater returns. Ethereum and Dash, for example, have returned ~9,500% and 10,600%, respectively, YTD. While investing in individual cryptocurrencies remains a popular investment, the publicly-traded Canadian cryptocurrency miners offer a unique alternative. The companies on our list today have the operational capacity to diversify by mining different cryptocurrencies, and focusing on areas with the highest growth.
HIVE Blockchain Technologies Ltd. (TSXV:HIVE) – $3.37
HIVE Blockchain Technologies acts as a blockchain infrastructure company that operates a cryptocurrency mining facility located in Iceland. The Company’s facility was completed in May 2017, and has the capability to mine a variety of cryptocurrencies, including Ethereum and Zcash.
- Market Cap: $804 Million
- Recent Financing: $115 Million (announced December 15)
- 3 Month Total Return: 79.26%
HashChain Technology Inc. (TSXV:KASH) – $3.08
HashChain Technology is a blockchain technology company, which began trading on December 18, 2017. The Company has a cryptocurrency mining division, which focuses its mining efforts on Bitcoin and Dash. In addition, the Company has significant capacity expansion plans in place, which include the addition of ~13,000 mining rigs by 2018.
- Market Cap: $127 Million
- Recent Financing: $26 Million (announced December 19)
- Return Since December 18: 23.27%
Global Blockchain Technologies Corp. (TSXV:BLOC) – $2.13
Global Blockchain Technologies acts as an investment vehicle for those looking to invest in blockchain technologies. The Company recently announced an agreement to acquire a 49.9% interest in a cryptocurrency miner called Coinstream Mining Corp. As part of the acquisition, BLOC has the rights to purchase 2,500 Bitcoins from Coinstream, annually for the next five years, at a price of US$1,000 per Bitcoin.
Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own units in any of the companies mentioned above.
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