The Canadian blockchain stocks we have identified have seen average one-month declines of 33.5%
SmallCapPower | June 22, 2018: Following the June 11, 2018, hack of a large cryptocurrency exchange in South Korea, cryptocurrency prices tanked, with Bitcoin dropping from US$7,600 to US$6,800. A similar attack occurred Wednesday, with ₩35B being stolen while ₩40B was stolen on June 11, with a much smaller drop and immediate recovery. Canadian blockchain stock prices continue to see severe declines alongside cryptocurrency prices, especially those of miners. The Canadian blockchain stocks on our list today have seen some of the larger declines over the past month.
Block One Capital Inc. (TSXV:BLOK) – $0.36
Investment Management & Fund Operators
Block One Capital is an investment issuer focused on the blockchain space. The Company provides financings to blockchain start-ups and holds cryptocurrency assets including Bitcoin and Ethereum. The Company sold its cryptocurrency mining division to HashChain (TSXV:KASH) for $3.1M.
- Market Cap: $22.6M
- 1 Month Total Return: -43.8%
- 3 Month Total Return: -54.4%
- YTD Total Return: -66.4%
Blockstrain Technology Corp. (TSXV:DNAX) – $0.38
Advanced Medical Equipment & Technology
Blockstrain Technology operates a blockchain-based cannabis genetics archive. Its secure Application Programming Interface offers companies the ability to create cannabis applications for growth, monitoring, and send relevant data to government authorities. Clients include WeedMD (TSXV:WMD) and Abattis Bioceuticals (CSE:ATT). The Company listed on the TSX Venture on May 23.
- Market Cap: $29.9 M
- 1 Month Total Return: -37.5%
- 3 Month Total Return: -37.5%
- YTD Total Return: -37.5%
HashChain Technology Inc. (TSXV:KASH) – $0.14
Financial & Commodity Market Operators & Service Providers
HashChain is a Canada-based blockchain company that currently operates 977 cryptocurrency mining rigs in Vancouver and plans to operate 48,600 by 2020. HashChain expects to mine primarily Bitcoin, Dash, and Ethereum. On May 22, the Company acquired TG12, a cryptocurrency miner, from Block One Capital (TSXV:BLOK) for $3.1M in shares.
- Market Cap: $18.5M
- 1 Month Total Return: -36.4%
- 3 Month Total Return: -55.6%
- YTD Total Return: -91.1%
HIVE Blockchain Technologies Ltd. (TSXV:HIVE) – $0.87
Financial & Commodity Market Operators & Service Providers
HIVE Blockchain Technologies is a cryptocurrency miner, operating a 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 this fiscal yeasr, expected to reach 44.2 MW in September.
- Market Cap: $275.6M
- 1 Month Total Return: -29.8%
- 3 Month Total Return: -36.5%
- YTD Total Return: -74.6%
Hut 8 Mining Corp. (TSXV:HUT) – $3.16
Investment Holding Companies
Hut 8 is a Canada-based cryptocurrency miner. Hut 8 wants to be the biggest cryptocurrency miner by using its BlockBox AC, manufactured in partnership with Bitfury, to mine Bitcoins using conventional datacenter infrastructure. The Company listed on the TSX Venture on March 6 and plans to operate 24 MW of Bitcoin mining by June, 50 MW by September, and 220 MW by the end of 2018, respectively.
- Market Cap: $264.2M
- 1 Month Total Return: -20.2%
- 3 Month Total Return: -19.0%
- YTD Total Return: 19.7%
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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