Hive Digital Technologies is moving its headquarters from Vancouver to Texas.
released a statement on December 31 that attributed this decision to the pro Bitcoin policy expected under Donald Trump’s administration.
Hive noted that Texas was a top destination for business travelers due to the favorable climate in Texas, its robust energy infrastructure, as well as access to highly skilled workers.
US Leadership in Crypto makes it an Ideal Location
Hive claimed that due to the United States’ leading role in cryptocurrency innovation, it was an ideal location for their headquarters.
“The depth of the U.S. Capital Markets is unparalleled and crucial to our Growth Strategy.” Frank Holmes said, “The U.S. Market, with its capitalization of $40 trillion and trading volume of $500 billion daily, offers HIVE liquidity, visibility and valuation opportunities that we need to scale.”
Texas has become a center for Bitcoin mining. Major players such as Riot Platforms and Marathon Digital are located there, along with Bitdeer and Core Scientific.
State’s abundant energy resources and its business-friendly atmosphere have made it the preferred choice of mining firms looking for operational efficiency and stability in regulatory matters.
Trump’s public backing for Bitcoin mining has further solidified Hive’s strategy.
Trump announced his intention in a Truth Social post from June 13 to ensure all Bitcoin was mined within the United States, describing this as a move towards energy dominance.
The CEO of Riot Platforms, Jason Les, also spoke with him earlier this year.
Hive has joined a growing list of crypto-related companies who are looking forward to favorable regulatory developments during the Trump administration.
U.S. Bitcoin Reserve
Senator Cynthia Lummis has proposed a bill that would bring Bitcoin under Treasury control.
Notably, the U.S. state of New York is also looking into including Bitcoin as part of their reserve.
Ohio was the latest state to join this movement . House Republican leader Derek Merrin presented a measure aimed at adding Bitcoins to the state’s reserves.
This initiative coincides with recent efforts in Texas and Pennsylvania to create Bitcoin reserves.
The Texas Strategic Bitcoin Reserve Act is a proposal that was made by Texas Representative Giovanni Capriglione in December 2024. This act proposes to have the state comptroller hold Bitcoin for a minimum of five years as a form of reserve.
Pennsylvania, too, made significant progress in November when Representative Mike Cabell proposed allocating up to 10% to the state’s treasury balance sheet for Bitcoin.
Corporations are expanding their Bitcoin holdings, too.
MicroStrategy & Metaplanet – two well-known corporate Bitcoin owners – have both increased their Bitcoin holdings significantly.
MARA Holdings announced that they had also acquired 11,774 BTC on the 10th of December, further strengthening their position in the market.
Riot Platforms a Bitcoin mining firm has announced plans for a $500 million private bond offering in order to increase its Bitcoin reserves.
