October 4, 2019
One of the world’s largest public cryptocurrency mining and blockchain infrastructure companies, Hut 8 Mining Corp. (Hut 8), announced recently that it will begin trading on the Toronto Stock Exchange (“TSX”) on October 8, 2019. Hut 8 will be the first cryptocurrency or blockchain company to list on the TSX. It will also be the first company to be listed through the TSX’s new TSX Sandbox program.
The Sandbox program intends to facilitate listing applications from newer companies that may not be able to satisfy the requirements and guidelines of the TSX. The conditions required for the program are modified to fit each individual applicant, and there is no firm list of eligibility factors. Hut 8 had already met the most of the TSX requirements for a listing, with the exception of raising money through a public prospectus.
The company’s CEO, Andrew Kiguel, said that listing on the senior exchange “broadens the audience of potential investors for us, because there’s a whole bunch of institutions and maybe family audiences that maybe don’t feel comfortable investing in the TSX Venture Exchange”.
Hut 8’s last day of trading on the TSX Venture Exchange will be October 7. The company’s ticker will remain as “HUT” when it beings trading on the TSX on October 8.
Author: Matt McDonald