Blockmate Ventures (TSX: $MATE) is a Canadian small-cap stock focused on a clean future for cryptocurrencies.
The Vancouver, British Columbia-based company is a Web3 incubator and venture capital firm. It specializes in making investments in blockchain and decentralized technology businesses.
Blockmate Ventures also has an interest in clean energy and funding crypto businesses that run their operations on renewable energy sources such as wind, water and solar.
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One of the main criticisms of cryptocurrencies is the massive amounts of power used to mine for the digital assets using banks of high-powered computers.
Management at Blockmate say they are focused on nurturing projects from inception to self-sufficiency, aiming for liquidity events to generate shareholder value.
The company owns a majority stake in Hivello, a crypto firm that enables users to earn income from idle computing resources.
Blockmate’s other venture investments include cryptocurrency miners, clean energy firms, and cryptocurrency exchanges.
As one might expect, Blockmate Ventures has been operating in a tough environment lately.
With Bitcoin’s price down more than 40% since last October and currently trading at $67,000 U.S., the venture capital market for crypto firms has been tough sledding.
At the same time, the dismantling of environmental regulations and laws by U.S. President Donald Trump in favor of fossil fuels has left clean energy companies out in the cold.
Consequently, MATE stock is down 55% over the last 12 months amid a rout in the entire crypto sector.
Trading at just C$0.04 per share, MATE is also a penny stock, defined as any security that trades for less than $5.
With a market capitalization of only C$6 million, Blockmate Ventures is best described as a micro-cap stock, or one that is valued at less than $1 billion.
There’s no dividend on offer and MATE stock could remain volatile for a while longer as the crypto market is upended by global events.
But for long-term investors looking for a bet on crypto that includes an environmental angle, MATE stock could fit the bill.
