Bitcoin mining firm Hive Blockchain announces 5-to-1 share consolidation plan
– Hive Blockchain has announced plans for a 5-to-1 share consolidation that would materialize around May 20.
– The Canada-based company justified the move as a way to “add shareholder value” and set the number of outstanding shares closer to industry standards.
– However, the company is still waiting on regulatory approvals.
– Executive chairman Frank Holmes indicated that the company’s relatively low price per share has been a barrier to some investors, arguing that consolidation would expand the company’s profile.
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