Frank Giustra, a well regarded Canadian mining magnate who created one of the world’s most successful mining companies is now moving his operation digitally to mine Cryptocurrency.
Giustra has backed a Blockchain technology company called Hive Blockchain Technologies, which is among the first publicly traded stocks to provide exposure to crypto mining, and for Giustra, he is seeing huge returns.
Six fold returns
The mining mogul has seen rapid growth since entering the Bitcoin market, backing Hive which was previously known as Leeta Gold Corp.
The decision to dig for data servers has paid off as Hive’s shares have soared about 633 percent, giving it a market value of $443 mln since it took over the listing.
Giustra’s foray into the crypto space has been a successful one as he has help drive Hive to be one of the pioneers in terms of a listed crypto mining company.