Hive Digital Technologies has announced a major shift, relocating its headquarters from Vancouver, Canada, to Texas, U.S., citing President-elect Donald Trump’s favorable stance on Bitcoin and a promising regulatory environment.

In a Dec. 31 statement, the company highlighted Texas’s business-friendly climate, robust energy infrastructure, and access to skilled talent as key factors driving the move. Hive’s executive chairman, Frank Holmes, emphasized the strategic advantages of the U.S., including its unparalleled $40 trillion capital market and $500 billion daily trading volumes. Holmes noted that this liquidity and visibility would fuel Hive’s expansion plans.

Texas has emerged as a hub for Bitcoin mining, hosting major players such as Applied Digital, Galaxy, and Riot Platforms. Hive joins this growing roster of industry leaders, banking on the state’s reputation as a mining hotspot.

The Trump administration’s support for cryptocurrency has added momentum to Hive’s decision. Trump’s statements, including a commitment to ensuring Bitcoin mining dominance in the U.S., have signaled a pro-crypto approach. In June, he reinforced this vision by highlighting the importance of domestic Bitcoin production, calling it a step toward U.S. energy dominance.

Hive’s relocation aligns with broader industry optimism about upcoming crypto-friendly policies, including potential overhauls at the Securities and Exchange Commission and increased oversight from the Commodity Futures Trading Commission. These developments, experts say, could drive significant growth for the crypto sector heading into 2025.

Hive Digital’s move underscores a growing trend among crypto firms seeking to capitalize on the U.S.’s evolving regulatory landscape and expanding market opportunities.