Hive Blockchain Sells Norwegian Facility

Publicly-listed crypto mining company Hive Blockchain announces the selling of its Norwegian subsidiary Kolos Norway AS.

The public announcement states Kolos Norway is sold to the municipality Narvik under a share purchase agreement. This means a complete share transfer and $200,000 cash payment.

The move to sell the Norwegian subsidiary stems from the Norwegian government’s decision to removed tax subsidy on electricity to crypto miners.

Hive Blockchain will still hold bitcoin and ethereum for balance sheets and will continue to operate and strengthen their data centers in Sweden and Iceland.

#SmartCrypto