Blockchain Miner HIVE Asks Canada Regulators To Bar Execs From Trading Stock

HIVE said its decision to delay its annual filings was the result of a shorter filing deadline for non-venture issuers and rapid growth


Blockworks exclusive Art by Axel Rangel


key takeaways

  • The crypto miner said it would miss its annual filings deadline by more than two weeks
  • As a result of the delay, HIVE has asked securities regulators across Canada to bar certain employees from trading in its stock

Publicly traded crypto miner HIVE Blockchain Technologies on Wednesday asked securities watchdogs in Canada to bar executives from trading in the company’s stock due to a delay in its financial statements.

HIVE — a crypto mining firm utilizing hydroelectric power across Canada, Sweden and Iceland — is expected to file its annual filings for the fiscal year by July 15 instead of the originally expected date of June 29.

Audited financial statements, chief executive and chief financial officer certifications and management discussion, as well as analysis, make up the majority of HIVE’s annual filings.

As a result of the delay, HIVE is asking regulators across all provinces and territories of Canada to issue a temporary order inhibiting directors, officers and insiders from trading in HIVE equities. Once the filings are finalized, the prohibition against company employees is expected to lift.

HIVE’s share price has since tumbled more than 10% on the day from 4.42 Canadian dollars ($3.43) to $4.01 Canadian dollars, exchange data show.

The firm is blaming a “combination of factors,” including a shorter filing deadline for non-venture issuers, a rapid increase in the company’s growth and an increase in the number of transactions resulting from that growth.

“The company does not anticipate such difficulties with future filings and has made arrangements to satisfy the shorter filing periods for future year-ends, including hiring additional finance staff,” HIVE said in a statement.

Founded in 2013, HIVE went public in 2017 via the Toronto Stock Exchange, and, at the time, touted itself as the first crypto mining company with a “green energy and ESG strategy” to do so. The company recently sold roughly 10,000 ether in a bid to scoop up Intel’s bitcoin mining rigs amid declining prices in a contracting crypto market.

HIVE said it intends to provide updates on a bi-weekly basis, in accordance with national policy, until the filings are completed.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

MON - WED, MARCH 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience:  Attend expert-led panel discussions and fireside chats  Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts   Grow your network […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research



Akash is a general-purpose compute platform with GPUs, storage, LLM training or inference, and validator hosting through its two-sided marketplace.


Details on the 2024 airdrop are coming into focus


Changpeng Zhao may be using his time in the US to meet with founders, according to posts on X


The token will be used to govern the DAO — and possibly to rouse activity in Solana DeFi


The investing app’s crypto trading revenue had dropped by 55% in the third quarter, but its volumes rebounded in November


The staking project built on Solana released its JTO token at 11 am ET Thursday. 45 minutes later, 30% of the tokens had been claimed


Call it mean reversion, a boost from JPMorgan or simply catching up. Whatever the case, Avalanche is a market favorite right now