Bitcoin Miner Hive to Purchase Intel Mining Chips, Firm Reveals a 100 MW Deployment Deal in Texas

On March 7, the publicly-listed mining steadfast Hive Blockchain Technologies announced the institution inked a woody with Intel to acquisition caller ASIC mining chips. Additionally, Hive has formed an statement with an archetypal plan shaper (ODM) and a non-binding missive of intent with Compute North. Hive said the institution plans to deploy 100 MW of mining capableness to Compute North’s renewable vigor facilities successful Texas.

Hive to Purchase ASIC Chips From Intel, Aims to Deploy 100 MW successful Texas

The blockchain institution and mining cognition Hive (TSX.V: HIVE) (Nasdaq: HIVE) has revealed it has entered a proviso statement with Intel Corporation (Nasdaq: INTC). Hive volition get Intel’s caller ASIC mining chips that volition beryllium leveraged successful custom-built instrumentality made for the company. The blockchain steadfast says it has a manufacturing statement with an ODM that specializes successful “electronics manufacturing.”

“Hive’s engineering squad volition gully connected its expertise successful hardware and bundle implementation and volition enactment intimately with Intel and the ODM spouse connected the systems integration,” Hive’s announcement notes. “These miners are expected to beryllium delivered implicit a play of 1 twelvemonth starting successful the 2nd fractional of calendar 2022, the effect of which, if they are each installed, would beryllium an expected summation of up to 95% successful our aggregate Bitcoin mining hashrate from 1.9 exahash per second.”

In summation to the woody with Intel, Hive elaborate it closed different statement with Compute North successful bid to deploy a 100 MW mining halfway successful Texas. Frank Holmes, Hive’s enforcement chairman, said the Compute North squad “shares the aforesaid committedness to utilizing renewable vigor that Hive has adhered to since its listing arsenic the world’s archetypal publically traded crypto-miner.”

Mining Company Holds 2,374 Bitcoin, Hive Joins a Slew of Firms Acquiring Intel Chips

Hive says that further details astir the 100 MW installation volition beryllium announced successful the future. Last year, Hive purchased a large woody of mining rigs from Canaan and successful mid-October it expanded its information halfway field successful New Brunswick, Canada, with 40 MW of capacity. The aforesaid month, Hive acquired different 6,500 mining rigs from Canaan. Hive holds a equilibrium of 2,374 bitcoin (BTC) arsenic of February 28, 2022, and the institution produced 244.4 BTC past month.

Moreover, Hive joins firms similar Griid, Argo Blockchain, and Jack Dorsey’s Block (formerly Square) that person plans to get Intel’s ASIC chips. Intel revealed its caller mining chips successful mid-February and claimed the circuits volition present 1,000x amended show than existent competitors. Later, astatine the International Solid-State Circuits Conference (ISSCC) past month, Intel gave the lawsuit attendees a sneak peak astatine the ‘Bonanza Mine BMZ1’ blockchain accelerator mining spot and the ‘Bonanza Mine BMZ2’ arsenic well.

What bash you deliberation astir Hive’s plans to acquisition Intel ASIC chips and the 100 MW installation successful Texas with Compute North? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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