HIVE Blockchain to expand mining operations with new Intel ASIC chips

Publicly traded crypto mining institution HIVE Blockchain Technology has signed a woody to bargain ASIC chips from semiconductor shaper Intel that volition beryllium utilized successful their caller customized mining devices.

HIVE has arranged for the caller devices to beryllium made by a third-party customized plan shaper that volition integrate the Intel chips into caller air-cooled Bitcoin (BTC) mining devices.

HIVE expects that the caller devices volition astir treble its aggregate Bitcoin mining hash complaint from 1.9 to 3.8 Exahashes per 2nd (Eh/s). They volition statesman arriving acceptable for usage starting successful the 2nd fractional of 2022.

Intel stated successful its patent for the chips, called “Bonanza Mine,” that the chips would besides reduce the powerfulness consumption of mining operations by 15%. The simplification successful powerfulness usage whitethorn let HIVE to employment much devices, helping it summation its hash complaint publication adjacent more.

Aydin Kilic President and COO of HIVE suggested that the caller devices would beryllium important successful the aboriginal maturation of the institution and its hash complaint contributions to the network. He said that the institution is committed to “implementing these next-generation blockchain accelerators successful (HIVE’s) greenish vigor infrastructure.” Executive Chairman of HIVE, Frank Holmes, added:

“Intel’s committedness to challenging the presumption quo and committedness to energy-efficient products aligns precise good with our ESG and cleanable vigor commitment.”

Currently, New York state and respective countries astir the satellite are considering banning Bitcoin mining successful the sanction of preservation of the situation and the powerfulness supply. HIVE whitethorn beryllium protected against specified complaints regarding its caller Texas determination by utilizing a installation powered by renewable vigor owned by integer infrastructure steadfast Compute North.

HIVE presently has mining operations successful Canada, Iceland, and Sweden wherever it mines BTC, Ethereum (ETH), and Ethereum Classic (ETC). The Texas cognition volition beryllium it's archetypal successful the U.S.

Related: Bitcoin mining trouble drops for the archetypal clip this year

Application-specific integrated circuit (ASIC) chips are customized for a peculiar use. In the lawsuit of Bitcoin mining, they are designed to execute analyzable mathematical equations successful bid to create caller blocks connected the chain.