The Canadian Blockchain stocks on our list have lost an average of 48% YTD but still have good long-term prospects
SmallCapPower | February 8, 2018: Cryptocurrency values have plummeted over the past month. Bitcoin is down 37% YTD, and 56% from its peak in December. Today we’ve identified four Canadian Blockchain stocks that have been hit particularly hard, losing an average of 48% YTD, and 9% this month alone. If you believe cryptocurrencies will recover, these companies could represent a value opportunity.
HIVE Blockchain Technologies Ltd. (TSXV:HIVE) – $2.09
Financial & Commodity Market Operators & Service Providers
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. HIVE opened an Ethereum mining facility in Sweden in January and plans to expand it throughout 2018.
- Market Cap: $504.5 Million
- MTD Total Return: -6.7%
- YTD Total Return: -39.1%
eXeBlock Technology Corp. (CSE:XBLK) – $0.35
Financial & Commodity Market Operators & Service Providers
eXeBlock Technology Corporation is focused on the development of custom Blockchain-based software applications called DApp (decentralized applications). Decentralized applications connect providers and users directly, bypassing the need for any middleman (i.e: Gmail, Linkedin, Uber), to manage information. In turn, end users drive the success of DApps, thereby creating an efficient, open-sourced method of doing business.
- Market Cap: $21.1 Million
- MTD Total Return: -9.2%
- YTD Total Return: -63.3%
Read: eXeBlock Technology is Using Blockchain to Disrupt Fundraising
360 Blockchain Inc. (CSE:CODE) – $0.13
Investment Management & Fund Operators
360 Blockchain looks for early-stage investment opportunities in the Blockchain space. The Company focuses on investments with Blockchain applications in e-sports, human resources, Internet of Things, and consumer loyalty programs. On January 17, CODE completed its acquisition of SV Crytolab, a Blockchain enthusiasts meeting location and cryptocurrency mining site.
- Market Cap: $19.8 Million
- MTD Total Return: -3.7%
- YTD Total Return: -49.0%
Datametrex AI Ltd. (TSXV:DM) – $0.21
Software
Datametrex AI provides cloud-based data solutions to big data clients in the retail sector. The Company announced plans to incorporate Blockchain technology into its current software to further authenticate and validate data collected. Its Ronin subsidiary has opened a cryptocurrency mining facility in Quebec.
- Market Cap: $39.0 Million
- MTD Total Return: -14.6%
- YTD Total Return: -41.4%
Disclosure: Neither the author nor his/her family own shares in any of the companies mentioned above.
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