HIVE Blockchain to expand mining operations with new Intel ASIC chips

Publicly traded crypto mining firm HIVE Blockchain Know-how has signed a deal to purchase ASIC chips from semiconductor producer Intel that can be used of their new customized mining gadgets.

HIVE has arranged for the brand new gadgets to be made by a third-party customized design producer that may combine the Intel chips into new air-cooled Bitcoin (BTC) mining gadgets.

HIVE expects that the brand new gadgets will almost double its combination Bitcoin mining hash price from 1.9 to three.8 Exahashes per second (Eh/s). They are going to start arriving prepared to be used beginning within the second half of 2022.

Intel said in its patent for the chips, known as “Bonanza Mine,” that the chips would additionally cut back the facility consumption of mining operations by 15%. The discount in energy utilization could enable HIVE to make use of extra gadgets, serving to it improve its hash price contribution much more.

Aydin Kilic President and COO of HIVE instructed that the brand new gadgets could be essential sooner or later progress of the corporate and its hash price contributions to the community. He mentioned that the corporate is dedicated to “implementing these next-generation blockchain accelerators in (HIVE’s) inexperienced vitality infrastructure.” Govt Chairman of HIVE, Frank Holmes, added:

“Intel’s dedication to difficult the established order and dedication to energy-efficient merchandise aligns very effectively with our ESG and clear vitality dedication.”

Presently, New York state and a number of other international locations all over the world are contemplating banning Bitcoin mining within the identify of preservation of the atmosphere and the facility provide. HIVE could also be protected towards such complaints concerning its new Texas location by utilizing a facility powered by renewable vitality owned by digital infrastructure agency Compute North.

HIVE presently has mining operations in Canada, Iceland, and Sweden the place it mines BTC, Ethereum (ETH), and Ethereum Traditional (ETC). The Texas operation can be it is first within the U.S.

Associated: Bitcoin mining issue drops for the primary time this yr

Utility-specific built-in circuit (ASIC) chips are personalized for a specific use. Within the case of Bitcoin mining, they’re designed to carry out complicated mathematical equations in an effort to create new blocks on the chain.

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