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Bitcoin Miner Hive Delays Latest Financial Filings Till End of February
Hive has applied the British Columbia Securities Commission for a management cease trade order, which restricts its CEO and CFO from trading shares until the filing has been completed.
Updated May 9, 2023, 4:08 a.m. Published Feb 15, 2023, 11:47 a.m.
Bitcoin mining company Hive Blockchain (HIVE) has said it will delay reporting its interim financial statements for the three- and nine-month periods ending Dec. 31, 2022.
Hive has applied to the British Columbia Securities Commission for a management cease trade order (MCTO), which restricts its CEO and chief financial officer from trading shares until the filing has been completed.
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The late filing is the result of an unforeseen tax notice in relation to one of Hive's European subsidiaries, the firm said on Wednesday.
The filings were due by Feb. 14 under Canadian securities law requirements. Hive said it will now file by Feb. 28, also saying that it expects to do so by Feb. 21.
The British Columbia Securities Commission says companies filing interim statements late receive a penalty of 200 Canadian dollars ($149) and are subject to potential cease trade order without further notice.
HIVE shares on the Toronto Stock Exchange Venture exchange (TSXV) are up 8.9% at 4.40 Canadian dollars at the time of writing.
Read more: Hive Blockchain Deploys First Intel-Powered Bitcoin Mining Machines
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