One of the rare cryptocurrency mining companies listed on the Nasdaq HIVE Blockchain Technologiesfacing difficult times.
Many crypto- money He received a notice from the Nasdaq, where his company is also listed on HIVE these days, one after the other, shutting down the shutters.
nasdaq, Fulfilling them as soon as possible after warning that the company has not fulfilled what it is required to fulfill under the listing laws of the stock exchange, otherwise Nasdaq It was emphasized that the platform will exclude the company from the list.
New Term Given to HIVE
HIVE failed to meet the requirements presented by the exchange on time last month. Rising electricity costs, falling Bitcoin (BTC) price and macroeconomic situation certainly presents challenging conditions for HIVE.
HIVE, on the other hand, did not mention any of these in its response, only citing the very short delivery time of the Nasdaq as an excuse.
HIVE is nowi Rule 5250(c) to comply with and to show that it aims to adapt 60 working days exists.
After the plan is fully prepared and accepted, the company needs to be approved for compliance again. 180 working days must fulfill what is stated in the plan.
HIVE, in its statement last month, emphasized that the last quarter’s earnings were 68 million dollars.
So even though the whole industry is going through tough times, the mining company can still be in relatively good shape. Despite this, HIVE needs to respond immediately to the notice it received from the Nasdaq. Shares of HIVE also fell more than 10% on the news.