Cryptocurrency miner Hut 8 has be provisionally lifted to the big board of the Toronto stock exchange, the company announced on Wednesday.
The firm that has a major data-processing operation in Medicine Hat has been listing on the TSX venture exchange since mid-2017, shortly after it began operating at another Alberta site.
This week is was chosen to take part in a new program offered by the stock exchange called “sandbox,” wherein companies are traded like other stocks on the senior exchange, and can gain full membership after one year once they meet financial reporting standards.
If successful, the company would be the first in the sector to gain full trading status.
“Our move to the TSX … is another significant step in our evolution to provide improved liquidity and enhanced public disclosure to investors,” said Andrew Kiguel, Hut 8’s CEO. “We are grateful to the TSX for conditionally approving Hut 8 to be the first company through the TSX Sandbox.”
The financial reporting requirements will see the company disclose the size and value of its Bitcoin holdings – which was noted in the company’s most recent financial statements.
Pot growing in Bassano
Calgary-based “craft” cannabis grower Canalief is planning to break ground next week on a 67,000 square-foot growing and production facility in Bassano.
A release from the company states it has obtained a development permit for the project and will hold a ceremonial groundbreaking on Oct. 4.
Future production would be geared to the medicinal marketplace, it states.
Construction is expected to create up to 40 temporary jobs, while a full-time operational workforce is expected to number 25.
Last October, Bassano town council approved a $150,000 land sale for 2.6 acre parcel to Canalief.
