what's up investors bitcoin has been one of the best performing assets of the past year
and given the industry has become more mainstream
it is now easier than ever to get exposure to the market so in this video i'll be sharing with you
one exciting cryptocurrency penny stock hive blockchain technologies
which is looking to disrupt the crypto miners with a strong competitive focus on low cost mining the
stock was unstoppable in 2020 rallying by more than two thousand percent as bitcoin edged higher
and after an impressive start to 2021 that saw the stock rally by over 180 percent
the over momentum has cooled off and the stock is pulling back giving some decent entry points
so i'll be sharing with you the company overview the outlook the key catalyst for you to consider
whether to have this in your portfolio or your watch list as you deem necessary
so please make sure you stay through to the end as you don't want to miss out on this hot sector
also be informed that this video is not financial advice and the markets have recently been very
unfavorable to penny stocks and with this stock being a crypto penny stock it carries extra risk
due to the correlation to the major currencies
so this stock is risky and only consider it if you're comfortable with the risk
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thoughts in the comment section below what crypto penny stocks you currently hold in your portfolio
and with that said let's get straight into it and talk hive blockchain technologies hive is
otc listed with a ticker number hvbtf and also on the canadian venture exchange with a ticker
number hive hive has a share price of 3.18 and a market capitalization of 1.2 billion dollars
its share price is down by 20 percent in the last month but it has had fantastic momentum
over the last six months up by 695 percent which is just brilliant this stock is otcqx listed with
over 377 million shares outstanding and over 2.6 million shares traded over a 30-day period
hive blockchain was also the most liquid canadian listed cryptocurrency miner
trading over 1.7 billion shares in 2020 and also named fourth on the 2021 otcqx best 50 companies
the historical correlation to crypto prices notably ethereum means that high
share price have been used by investors as a proxy to gain exposure to the industry
and this is due to no anti-money laundering concerns no need for cryptocurrency accounts and
also the availability to all retail investors hive blockchain is a growth oriented company
building a bridge from the blockchain sector to traditional capital markets
their own state-of-the-art green energy power data center facilities in canada sweden and iceland
which produce newly minted digital currencies like bitcoin and ethereum continuously on the cloud
and their deployments provide shareholders with exposure to the operating margins of
digital currency mining as well as portfolio of cryptocoins new mining production aided by rising
prices in the respective cryptocurrencies helped increase the dollar value of hive's coin portfolio
and since the beginning of 2021 hive blockchain has been holding its mind coins and ethereum coins
and banking them in cold wallets hive is one of the largest and most diversified public
cryptocurrency miners globally and the only publicly listed competitor with significant
ethereum and bitcoin mining operations on multiple continents their mining facilities are in stable
jurisdictions with key elements for optimized mining such as low energy costs low temperatures
and fast internet all of hive's mining facilities are powered by green energy since they won
including their industrial skill cryptocurrency mining facilities in quebec sweden and iceland
which are powered by renewable hydroelectricity and geothermal energy hive recently completed the
acquisition of a 50 megawatt data center campus in new brunswick from gp1 holding
to expand the canadian footprint and this acquisition will build long-term assets
on the balance sheets and complement their esg strategy to only mine coins on the cloud
from sources of low cost surplus green energy hive also recently completed the share swap transaction
with defi technologies for approximately five percent of the existing outstanding
shares of defi technologies in exchange for one percent of hives outstanding common shares
the new partnership will provide hive with a strategic stake in defi technologies and a broader
partnership surrounding the defi ecosystem with a specific focus on the ethereum based mev space
and development surrounding it hive recently announced its results for the third quarter
ended december 31st 2020 stating that income from digital currency mining was 13.7 million
dollars in the third quarter which was a 174 percent increase from the same quarter last year
and 5 higher than the previous quarter they also had a record cash flow of 13.7 million
up significantly from the 5.7 million dollars a year earlier and 3.1 million dollars higher
than the previous quarter to some really strong growth levels year on year and quarter and quarter
which if continues it could take this stock to exponential territory
on average they have been producing over 20 000 ethereum coins per quarter
and so with blockchain spending anticipated to grow at a compounding growth rate of 60
over the next five years the outlook appears to be really good for the stock so lots to get
excited about this company based on their focus and the crypto outlook and so if you want to
invest in this stock you want to strike in at the price which you like and one that works for you
and so i'll start by cost averaging in with a stop loss ideally in the range of five to ten percent
and the share price seems to be on a slow decline which is good
i don't think it has bottomed out yet so my strike price is in the range of 2.80 and 2.90
and so if there's any pullback lower than 2.90 that would be a good entry point for the long
term and so if we introduce other comparables to highlight the opportunity with this stock
such as marathon digital holdings ticker number of mara with a market cap of 3.3 billion dollars
and also ryan blockchain ticket number riot with a market cap of 3 billion dollars we can see how
these two have had a fantastic bull run over time potentially due to their greater exposure
to bitcoin and so while the factors which drive the share prices are in multiple dimension
exposures to the different cryptocurrencies it is much harder to do a multiples based valuation
and having said that the recent focus of hive to be the lowest cost miner and the strong focus on
ethereum is beginning to see it outperform these other sector leaders in the recent trading period
so plenty of upside based on their current focus but please do your own research you also need to
be aware that this stock is a penny stock which is riskier more volatile and so just make sure
you're planning for any trade accordingly and the falls within your risk tolerance in addition you
need to be aware that crypto mining is becoming increasingly competitive and can be far less
profitable for some stocks and the correlation to the cryptocurrencies means that they can also be
very volatile so please be informed this video is not a buy or sell recommendation but it's
meant to bring some new and exciting companies your attention for you to do your own research
and as always i love to hear from you so please let me know your thoughts on this crypto penny
stock in the comment section below and what other crypto penny stocks are catching your eyes lately
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