Blockchain Miner Hive asks the Canadian supervisory authorities to exclude managers from stock trading
Blockchain Miner Hive asks the Canadian supervisory authorities to exclude managers from stock trading
- The crypto miner said that he would miss his annual submission period by more than two weeks
- As a result of the delay, Hive asked the security authorities across Canada to prohibit certain employees with its shares
The listed crypto-miner Hive Blockchain Technologies asked for securities supervisory authorities in Canada on Wednesday to exclude managers due to a delay in the annual financial statements from trading with shares in the company.
hive-a crypto mining company that uses hydropower in Canada, Sweden and Iceland-will probably submit its annual submissions for the financial year until July 15th instead of the originally expected date on June 29th.
Tested annual financial statements, certification of managing directors and finance management and management discussions as well as analyzes make up the majority of the annual submissions of Hive.
As a result of the delay, Hive asks the supervisory authorities in all the provinces and territories of Canada to issue a temporary arrangement that prohibits directors, leaders and insiders the trade in hive shares. As soon as the submissions have been completed, the ban on employees of the company is expected to be lifted.
The Hive share price has fallen to 4.01 CAD (3.01 USD) since then by more than 10 % of 4.42 CAD ($ 3.01), as I show stock exchange data.
The company blames a "combination of factors", including a shorter submission period for non-venture emitters, a rapid growth of the company and an increase in the number of transactions that result from this growth.
"The company does not expect such difficulties in future submissions and has taken precautions to meet the shorter submission deadlines for future year ends, including the employment of additional financial personnel," said Hive in an explanation.
hive was founded in 2013 and went to the stock exchange in 2017 via the Toronto Stock Exchange and at that time applied for crypto mining companies with a "green energy and ESG strategy". The company recently sold around 10,000 ether to buy Intel's Bitcoin mining rigs in the middle of falling prices in a shrinking crypto market.
hive said that it intends to provide updates every two weeks in accordance with national politics until the submissions are completed.
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The contribution Blockchain Miner Hive asks Canadian regulatory authorities to exclude managers from stock trading
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