Crypto Miner Hive Blockchain Sells Norwegian Unit After Country Removes Power Subsidy
Hive said it would likely not be able to meet the development conditions for the project without tax relief on electricity.
Two large bitcoin miners are growing beyond Quebec because of restrictions on the use of power to run their operations.
Hive predicts the purchase will generate an additional $80,000 in daily income.
The positive adjustment could be the beginning of a surge in hashrate in the coming year.
Following China’s recent crackdown on crypto mining, GPUs have dropped in price.
The shares will continue to trade on the TSX Venture Exchange.