Since the pandemic bull market emerged, demand for publicly traded companies that participate in the crypto ecosystem have surged, too, with a number of firms such as Coinbase and Voyager Digital listing on public markets.
“One of the reasons U.S.
Miners tend to have fixed costs and their performance tracks the price of bitcoin, not unlike how a gold miner would make more profit on the rising value of gold, Vafi said.
When it comes to crypto exchanges and brokerages, Vafi focuses on the enterprise-value-to-sales ratio or enterprise-value-to-EBIT, particularly with companies such as Coinbase which have a more mature profitability level.
“I think it’s going to expand pretty quickly….
Hut 8, which began trading on the TSX Venture Exchange in March 2018 and on the TSX in October 2019, went through a TSX Sandbox program.
The TSX Sandbox program, launched in April 2019, aimed to bring in applicants that may not yet meet all of the exchange’s listing requirements, though could win acceptance if they meet other conditions through the program.
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