Green Mining Company HIVE Secures Deal To Buy A Number Of Intel’s New ASICs

The ESG-focused mining firm HIVE is the most recent group to signal a cope with Intel. It joins Block, Argo Blockchain, and GRIID, as the primary purchasers and testers of the large’s new ASICs. Intel’s Bonanza Mine mission is shortly changing into considered one of bitcoin’s tales of the 12 months. It’s humorous that, to date, nobody has seen the tools. The concept of a bitcoin miner made within the US is interesting, although. Plus, the mission’s rollout has been masterful to date. 

The headline right here is that “HIVE owns state-of-the-art, inexperienced energy-powered information centre amenities in Canada, Sweden, and Iceland, the place we supply solely inexperienced power to mine.” In a recent press release, the corporate introduced the Intel deal and its intention to increase into the US. “The Firm is planning for a 100 MW deployment at considered one of Compute North’s renewable power campuses in Texas.” 

HIVE self-proclaimed itself “the primary cryptocurrency mining firm with a inexperienced power and ESG technique”. The corporate’s different important attribute is that they’re holders. “For the reason that starting of 2021, HIVE has held in safe storage the vast majority of its ETH and BTC coin mining rewards.” That goes in keeping with new information that exhibits that miners are quietly accumulating bitcoin because the market bleeds.

BTCUSD price chart for 03/08/2022 - TradingView

BTC worth chart for 03/08/2022 on | Supply: BTC/USD on

What Do We Know About HIVE ‘s Deal With Intel?

Not a lot, actually. “HIVE has entered right into a Provide Settlement with Intel which is without doubt one of the world’s largest semiconductor producers, for his or her upcoming blockchain accelerator.” Discover how HIVE calls the ASICs “blockchain accelerators,” simply as Intel did within the firm’s weblog. Will the title catch on?

The press launch doesn’t specify what number of bitcoin miners will HIVE purchase, however, it gives some related information: 

“These miners are anticipated to be delivered over a interval of 1 12 months beginning within the second half of calendar 2022, the impact of which, if they’re all put in, could be an anticipated enhance of as much as 95% in our mixture Bitcoin mining hashrate from 1.9 Exahash per second.”

It additionally quotes HIVE ‘s president, Aydin Kilic, who in regards to the deal stated:

“After months of cautious planning, we’re very excited to take this step ahead with a world expertise chief like Intel. HIVE is dedicated to implementing these next-generation blockchain accelerators in its inexperienced power infrastructure.”

The ESG facet of the entire endeavor is one other essential level right here.

Bitcoin Retains Going Greener And Greener

Lately, GRIID’s filling with the SEC revealed a number of traits of Intel’s new bitcoin miners. As at all times, NewsBTC bought you the 411:

“When the world first heard about Intel’s ASIC ambitions, the corporate cleverly described the machines as “ultra-low-voltage energy-efficient.” How environment friendly will they really be? Tom’s {hardware} solutions:

“In accordance with the itemizing, BMZ2’s efficiency weighs in at 135 TH/s with 26 J/THs of effectivity. Moreover, the miner is roughly half the price of a competing Bitmain S19 Professional whereas being 15% extra environment friendly, rivaling one of the best {hardware} in the marketplace from competing corporations.”

Would 15% actually make that a lot of a distinction? If it could rival the S19 Professional, it will. And Intel wouldn’t make this a lot noise in the event that they didn’t have a winner of their palms, would they? Perhaps HIVE ‘s president, Aydin Kilic, can shed some mild on that:

“Intel’s energy-efficient and excessive efficiency blockchain accelerator is predicted to scale back our energy consumption over present ASIC miners in the marketplace. HIVE will take part within the system improvement course of from design verification, by way of to the prototype phases, after which manufacturing unit & check engineering regimens to reach at a manufacturing mannequin; we’re well-positioned and excited to undertake the method forward.”

That’s proper, the primary few purchasers will assist with the testing and improvement of Intel’s closing product. That makes all of the sense on this planet. Let’s want them luck, as a result of an ASIC miner made within the US would definitely assist break Bitmain’s quasi-monopoly. The bitcoin ecosystem wants extra decentralization in that facet. 

Featured Picture: HIVE's brand, screenshot from this video | Charts by TradingView

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