The company will begin trading on the senior Canadian exchange on Tuesday; it is the first crypto company to be listed on the TSX.
Andrew Kiguel, CEO of Hut 8 Mining (TSXV:HUT), spoke with the Investing News Network (INN) about how the firm is set to become the first cryptocurrency company listed on the Toronto Stock Exchange (TSX) on Tuesday (October 8).
Hut 8 is a cryptocurrency company with positive net income figures and a share price gain of over 40 percent year-to-date, two features that are rare within the publicly listed blockchain space this year.
With the company’s official listing on the TSX slated for Tuesday, Kiguel told INN how Hut 8’s fundamentals helped the company qualify through the newly minted TSX Sandbox Program. Kiguel also discussed the implications of moving to a senior exchange and how that will impact both the company’s liquidity and financing opportunities.
Continue reading to learn more about what Kiguel had to say. This interview has been edited for clarity and brevity.
INN: Hut 8 is the first cryptocurrency company to be listed on the TSX. Can you tell me more about this process?
AK: Being a cryptocurrency company in a newer industry, most of the companies that have come out have been listed on the OTC boards or junior exchanges.
It was important for us to move up to the senior board to establish us as a real and legitimate player in the space. We have strong earnings and we have a lot of revenue. And it enables a whole bunch of other things. The TSX is the fourth largest exchange in North America and one of the largest in the world, and it allows us to be included into different indices.
A lot of investors out there have prohibitions against investing in junior exchanges, but they are allowed to invest in senior exchanges….