Hive Digital Relocates HQ to Crypto-Friendly Texas

Crypto News

Hive Digital Relocates HQ to Texas, Backed by Trump’s Crypto Support

Written by Aaron S.,

Editor-In-Chief

Last Updated: January 02, 2025

Key Takeaways

Hive Digital plans to move its headquarters to Texas for its supportive business environment and strong Bitcoin mining infrastructure;
The company cites US financial markets and Trump’s pro-crypto stance as key factors in the decision to move operations;
Texas is a growing hub for Bitcoin mining, which attracts major players due to its energy resources and skilled workforce.

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Hive Digital Relocates HQ to Texas, Backed by Trump’s Crypto Support

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Hive Digital Technologies has announced plans to move its headquarters from Vancouver, Canada, to Texas.

Texas has already become a hub for Bitcoin BTC $87,179.90 mining in the United States, which hosts several major players like Applied Digital, Riot Platforms, and Marathon Digital.

In a statement released on December 31, Hive Digital explained that Texas stood out for its business-friendly environment, reliable energy infrastructure, and access to skilled workers. These factors make it an ideal location for the company’s operations.

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The company also noted that the incoming administration, led by President-elect Donald Trump, has shown a favorable stance toward cryptocurrency, which influenced their decision.

The Trump administration’s support for cryptocurrency was further emphasized during a June 13 meeting between Trump, public policy head Brian Morgenstern, and Riot Platforms CEO Jason Les. Following the discussion, Trump aimed to ensure that future Bitcoin mining occurs within the US.

Hive Digital’s executive chairman, Frank Holmes, pointed to the US financial markets as a major factor. Holmes said:

The US market, with its $40 trillion capitalization and daily trading volumes of $500 billion, offers HIVE the liquidity, visibility, and valuation opportunities we need to scale.

While Hive Digital prepares to relocate its headquarters to Texas, BIT Mining has recently branched out into Dogecoin DOGE $0.1525 and Litecoin LTC $84.58 . Why? Read the full story.