Canadian blockchain stocks are on fire. No doubt 2017 will be remembered as the year the world woke up to cryptocurrencies, not to mention the blockchain platforms behind them. And while it’s anyone’s guess how the sector will fare in 2018, the clear winners so far have been blockchain-related companies, many of whom now sit on huge piles of cash. While we would not consider this list definitive, as the space seems to move by the minute, not by the day or week, we count down some of the blockchain and crypto plays that have banked the most cash.
HIVE Blockchain Technologies LTD (TSXV:HIVE)
Want a sign of how pumped investors are about cryptocurrencies? Look no further than Ethereum miner, HIVE, whose facilities in Iceland (and planned expansion in Sweden) are set to use over 44 MW in computing power by mid-January. The company recently announced a gargantuan financing of $115-million.
Global Blockchain (TSXV:BLOC)
Another investment company focusing on cryptocurrencies, Global Blockchain has a subsidiary interest in currency mining, having taken on a 49.9 per cent interest in Coinstream Mining Corp. In December, the company closed on a bought deal that netted it nearly $43-million.
Transeastern Power Trust (TSXV:TEP.UN)
Transeastern Power Trust, soon to be known as Blockchain Power Trust, announced a best-efforts $40-million private placement led by GMP and Haywood in December, scheduled to close this month. Last summer, this company bought a Romanian wind energy farm producing 45 MW of power, which it now plans to use to run a currency mining centre.
DMG Blockchain (TSXV:AXN.H)
Still trading under the shell Aim Explorations, DMG Blockchain is now exploring possibilities in all things crypto. In the last days of 2017, the company gave notice that it had arrived with a $28.06-million Qualifying Transaction financing led by Canaccord and including Paradigm Capital. (DMG Blockchain is a sponsor of Cantech Letter)
Hashchain Technology Inc. (TSXV:KASH)
Another mining company, Hashchain went public on the TSX Venture Exchange last month, The company has set up shop in Vancouver, mining both Dash and Bitcoin, and has already raised $26 million in a bought deal private placement.
Glance Tech (CSE:GET)
Glance Pay is a mobile payment system which uses blockchain technology, while the company’s recently announced Glance token is being billed as a digital currency for use in consumer loyalty and rewards programs. Just a year old, the company now sits on the CSE’s top 25 Index and has raised $22 million in financing over the past two months.
Big Blockchain Intelligence Group Inc. (CSE:BIGG)
As with any newly opened up terrain, the cryptocurrency field is full of winners, losers — and criminals. That’s where Big Blockchain comes in, providing data analytics and monitoring to help catch the crooks who are using cryptocurrencies in their operations. The company recently closed a $19.5 million bought deal led by GMP Securities which it says will go towards hiring staff and acquiring more hardware and infrastructure for its analytics capacities.
BTL Group (TSXV:BTL)
Vancouver-based BTL has been around longer than most in the sector, having been incorporated in 2011, and although the company has yet to produce significant revenue from its Interbit blockchain platform (aimed at streamlining enterprise IT infrastructure), there are high hopes for its wide applicability. Successful tests have already been run with big name companies like VISA and BP. In November, the company completed a funding round to the tune of $15.3 million.
The stock price for this Ottawa-based cloud storage company was languishing for years until last September Leonovus announced it would begin using a blockchain platform for its encrypted data storage solutions — the company’s share price rose sixfold (and then took a hit over the past month). Leonovus closed a $13.75 million bought deal in December. The company has plans for an initial coin offering (ICO) in the summer of 2018.
Block One Capital Inc. (CSE:BLOK)
In November, Vancouver-based investment company Essex Angel Capital Inc. changed its name to Block One Capital and acquired part ownership of a US mortgage company offering block-chain-backed services (and more recently announced acquiring 90 per cent ownership of currency mining company TG12). In December, the company closed on an oversubscribed $10 million private placement.
eXeBlock Technology Corporation (CSE:XBLK)
Perhaps the blockchain comoany with the most cloak-and-dagger vibe, eXeBlock is headquartered inside a 64,000 sq./ft. nuclear bunker complex in Debert, Nova Scotia (!). In October, the company closed a $6.2-million private placement.
Victory Square Technologies Inc. (CSE:VST)
Offering tech incubation and advisory services, Victory Square has VC interests in the medical and entertainment fields, in AI and virtual reality and, now, blockchain technology. The month of December saw its share price more than double. In November, Victory Square announced a $5 million non-brokered private placement.
An online payment processing platform, Netcents is now pushing to deliver a streamlined process for converting cash to digital currency. Last month, the company launched its own currency ex-change called the NC Exchange, on which users can buy and sell NetCents Coins. Since October, in addition to the ten million coins sold, the company announced a financing round of up to $5-million with Alumina Partners (Ontario) Ltd., a subsidiary of Alumina Partners LLC, a New York-based private equity firm.