The SpiderOak Hive folder is not itself movable, but you can achieve the same thing with greater flexibility with a Sync, which can be placed wherever you want. Then optionally you can deactivate Hive and remove it.
Why do we do it this way? Some of our users asked us for a file synchronization solution that works out of the box with no setup required and no configuration options that can be misunderstood or mis-set. For them we created Hive. Other users asked for a full featured solution that is flexible and highly configurable. Our Sync startup guide will help you set it up. Then if you want to deactivate Hive or remove it entirely, that can be done as well.