Many serious investors avoid buying cryptocurrency due to its speculative nature. With just a few tweets, Elon Musk was able to skyrocket the Dogecoin and affect the drop of Bitcoin. This doesn’t stop regular people from exploring the cryptocurrency world and attempt mining.
In the age when every other person is buying or mining cryptocurrencies, HIVE has entered the scene as the first cryptocurrency mining business.
There are two great purposes behind HIVE. The primary purpose of HIVE is to connect the blockchain sector to the traditional capital markets. This way, investors can get exposure to the operating margins of cryptocurrency mining as well as a portfolio of crypto coins.
The increased popularity of cryptocurrency mining has brought to our attention unethical mining and the terrible effect it has on global warming. That’s when the second grand purpose of HIVE comes to light. HIVE mines Bitcoin, Ethereum, and Ethereum Classic in a colder region using exclusively green energy.
Sounds ideal? Luckily for us,
Unlike some of the recent private companies we reviewed (like Hulu, Stripe, and Tiktok), HIVE is a publicly listed company, and you can buy HIVE stocks through any online brokers like Gate.io. You can’t buy HIVE stocks with cash; you must purchase Bitcoin first and transfer it to AltCoin exchanges.
What Is HIVE
HIVE is a public company established in 2017 that utilizes high-powered computing assets to mine Bitcoin, Ethereum, and Ethereum Classic. Their mining operations are purposely based in Canada, Sweden, and Iceland.
These regions have a cool climate which helps lower the cost. HIVE uses green energy for mining and keeps a close eye on its hardware. By tracking the temperature, hash rates, and power consumption, they’re able to react fast on any problematic rig, prevent overheating, and keep it in working condition longer.
HIVE also provides an option for content creators to monetize their content via cryptocurrencies. Their data center stores a vast amount of data in order to make it available for time-based monetization.
With fast, fee-less transactions, HIVE is on the way to becoming one of the leading (and people’s favorite) blockchain technology in the world.
Who Owns HIVE Blockchain Technologies
Genesis Mining and Fiore Group currently own HIVE. It was founded by Olivier Roussy Newton, Marco Streng, and a team of early Bitcoin investors.
Genesis Mining is the global leader in cryptocurrency cloud mining, drawing in over million clients. They built their first large Bitcoin mining facility in 2014 and the world’s largest Ethereum mining facility in 2016.
Intending to aid the growth of the Blockchain sector, Genesis Mining partnered with Fiore Group to go public and start HIVE Blockchain in 2017. The goal was to furtherly aid in developing the blockchain sector by involving the traditional capital markets.
Considering the large impact cryptocurrency mining has on the environment, they committed to conducting clean and sustainable cryptocurrency mining operations. HIVE takes the environmental, social, and governance factors into account.
How HIVE Makes Money
HIVE owns vast mining facilities and validates transactions on blockchain networks for rewards paid in cryptocurrencies. Every day, HIVE gains new crypto coins, which it monetizes for profit and cash flow.
Just last year, HIVE Blockchain Technologies made $27.7 million in revenue and $15.3 million in profit. Since it first went public, HIVE has grown from an unprofitable to a highly profitable company.
Why HIVE Stock Is A Good Buy
When HIVE went public, their stocks were trading for $0.09. Merely a year later, the stock rose to $4.93, an all-time high reached on February 19th, 2021. Today HIVE stocks are $2.59, which is an expected fall. But even during the major fall of Bitcoin snd Ethereum,
HIVE still managed to stay profitable and expand its mining facilities. Their stocks are still considered a hidden gem, there’s not a lot of information, and people are staying away due to limited knowledge.
Just as other cryptocurrencies, HIVE stocks are susceptible to speculative volatility. One of their main perks is that you can’t trade cryptocurrencies on traditional markets, but you can trade HIVE stocks.
It’s the perfect stock for those who can tolerate higher risk and are willing to hold. Simply put, if you can tolerate volatility, dive in and buy your first HIVE stocks.
How To Buy HIVE Stocks
With regular stock, all you need is cash and a reliable broker. The process of buying HIVE stocks is a little more complicated. But if you already own Bitcoin, it would be just another transaction in the books for you.
First Step
We’ll explain the process of buying HIVE with one of the major cryptocurrencies. The first step depends on if you already have Bitcoin or need to buy it first.
If you don’t own Bitcoin, register on a crypto exchange that accepts fiat deposits, like Coinbase. After verifying your profile, you can use a bank transfer, credit, or debit card to purchase the desired coins.
Bank transfers have lower fees compared to cards, but the cards allow a faster purchase. Pick trade and buy your crypto!
If you already have Bitcoin or Ethereum, skip this step.
Second Step
HIVE is an alternative digital coin or AltCoin. In order to purchase it, you have to transfer your cryptocurrency to an AltCoin exchange. Gate.io is a great one and available to American investors.
Create your profile, and after the verification process, you’ll gain access to your wallet.
Copy the address and send Bitcoin from your bitcoin wallet to the Gate.io wallet. It’s the same process as if you were sending Bitcoin to pay another person.
After your deposit is verified, you’ll find it in your Gate.io wallet.
Third Step
Now you’re ready to purchase HIVE! Go to the Exchange section at Gate.io and search for HIVE. Place your order and select what percent of your Bitcoin you’d like to spend on buying HIVE. By clicking “Buy HIVE” your job is done!
Frequently Asked Questions
Is HIVE Publicly Traded?
HIVE is a publicly listed company and its shares can be bought by anyone.
Why Is HIVE Blockchain Dropping?
It’s no secret that the value of HIVE stocks has suffered a significant decrease. Partially it’s due to the fact that Director Tobias Ebel sold 315,000 of his shares for $3.84 apiece in April 2021. The fear of Bitcoin reaching a new low drove other shareowners to sell, dropping the value of HIVE even lower. Market analysts still advise on buying and holding. Some also predict an increase of up to 30% this year.
Is HIVE Overvalued?
HIVE stocks were considered overvalued before suffering a 26% loss in market value in less than a month. Overvalued stocks are due for a correction like HIVE underwent in recent months. Currently, with the price at $2.6 per share, it’s not considered overvalued.
Is HIVE on Nasdaq?
You can find HIVE stock on Nasdaq under HVBTF and follow their progress.
What Are The Best Blockchain Stocks?
Some of the best blockchain stocks to follow now are NVIDIA Corporation, Marathon Digital Holdings, Riot Blockchain, Amazon.com Inc.
Bottom Line
Blockchain is an inevitable part of our future, and there are many ways you can benefit from it, including mining and buying. If you’re willing to dive in deeper, HIVE’s stocks are a great way.
But beware, they’re not immune to the volatility of all cryptocurrencies.
Let a small part of your portfolio consist of the coins of the future. The high risk might lead to increased gains or significant losses. Follow the market prediction and analysis thoroughly before making your decision.
