Cryptocurrency mining firm Hut 8 has received the approval to list its shares on NASDAQ, making it the latest crypto company to go public on the stock exchange.
Hut 8 to go list shares on NASDAQ
The cryptocurrency space has grown massively in the past few years, allowing several companies in the sector to go public. Hut 8 is already a publicly-listed company in Canada, but it is now set to list its shares in the United States.
Hut 8 announced that it had received the approval to list its shares on the NASDAQ stock exchange. In a press release, the company said “Hut 8 Mining Corp. (TSX: HUT) (“Hut 8” or the “Company”) today announced that the Company’s common shares had been approved for listing on The Nasdaq Global Select Market (“Nasdaq”) under the ticker symbol “HUT.” The Company will retain its listing on the Toronto Stock Exchange (the “TSX”) under the symbol “HUT.”
The company will be expanding the availability of its shares to investors since it is already listed on the Toronto Stock Exchange. Although Hut 8 has been granted the approval, the company didn’t reveal when it will list its shares on the NASDAQ stock exchange.
Crypto companies are going public
Cryptocurrency companies have recorded exceptional growth in recent years, and some of them are now going public. Crypto exchange Coinbase became a publicly-listed company in April. It is listed on the NASDAQ stock exchange. . Another US-based crypto exchange, Kraken, is also exploring the possibility of going public before the end of the year. However, it is not sure if it will do so in the United States due to the toxic regulatory environment.