Crypto-Miner HashChain Goes Public on TSX
18th December sees launch
HashChain technology has announced that it has finally received approval from TSX (Toronto Stock Exchange) allowing it to go public on December 18th under the symbol “KASH.” The company joined about eight others that are crypto-related, including HIVE Blockchain technologies. Its stock began trading at $2.20 CDN per share.
In preparation for the major launch, HashChain had already raised around $4.4 million with 41,179,999 shares. Although it has mainly been mining Dash, the company said that it will proceed and mine Bitcoins in 2018, supporting flexible and highly scalable operations afterwards.
Patrick Gray, the CEO of HashChain said that its mining operations will be based in Canada, even though the company’s offices are in New York. He noted;
“Our ideal location for mining will maximize revenue on each coin, and our proprietary approach to operations can sustain rapid growth and scalability.”
He also added that their mining operation is hosted in Vancouver, Canada as it’s the ideal location to reduce costs involved when mining cryptocurrency on a large scale. The Internet in the country is cheaper and the cold climate helps reduce cooling costs significantly.
More Crypto- and Blockchain-Based Companies Looking to be Listed by TSX
With the approval of HashChain Technology by TSX, more companies are looking to get listed by the giant stock exchange in 2018. At least 50 cryptocurrency and blockchain technologies have already shown interest in being listed, including big names such as Hut 8 Mining Corp.
According to the GMP Capital Inc,’s CEO – Harris Fricker – TSX Venture Exchange is less risk-averse when compared with other stock exchanges, making it a favorite among major crypto-related companies.
The Story of TSX
Abbreviated as TSX, the Toronto Stock Exchange is one of the biggest stock exchanges in the world in terms of market capitalization. It’s based in Toronto and operates as one of the subsidiaries of TMX Group.
Although the exchange is based in Canada, a wide range of businesses from abroad are listed on the exchange. In fact, more oil and gas as well as mining companies are listed on TSX than any other exchange in the world. Its long list includes split share corporations, companies dealing with investment funds, exchange-traded funds and income trusts.
What do you think listing crypto-related companies by major exchanges will mean for the blockchain and cryptocurrency industries in 2018? Will this see their adoption increase over the years? Let’s hear your thoughts!