Hive Digital moves headquarters to Texas for Bitcoin mining growth

Hive Digital Technologies has announced its decision to relocate its headquarters from Vancouver, Canada, to Texas, citing favorable regulatory and business conditions under the incoming Trump administration.

In a statement issued on Dec. 31, Hive highlighted the benefits of Texas, including its energy infrastructure, access to skilled talent, and supportive business climate.

The company sees the United States as a global leader in cryptocurrency adoption and believes the move will enhance its growth potential.

“The depth and breadth of US capital markets are unparalleled and key to our growth strategy. 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,” said Frank Holmes, Hive’s executive chairman.

Texas has become a center for Bitcoin mining, hosting operations from firms such as Riot Platforms, Marathon Digital, Galaxy, Bitdeer, and Core Scientific.

Hive’s move shows the state’s growing importance in the crypto industry.

The relocation comes after President-elect Donald Trump expressed a desire to prioritize Bitcoin mining in the U.S.

“We want all the remaining Bitcoin to be made in the USA. It will help us be energy dominant!” Trump stated on June 13, following discussions with Riot Platforms executives.

Hive’s decision reflects optimism about potential crypto-friendly policies under Trump, including regulatory changes and enhanced oversight from the Commodity Futures Trading Commission.

Industry experts believe these developments could create a supportive environment for cryptocurrency innovation.

At the time of reporting, the Bitcoin price was $94,919.46.