2 years ago
While the cryptocurrency assemblage prepares for The Merge, the Nasdaq-listed, Hive Blockchain Technologies, revealed successful the company’s August 2022 accumulation update that it plans to re-distribute its hashpower dedicated to Ethereum toward “other GPU mineable coins.”
Hive’s Technical Team Researches Other GPU Mineable Coins
On September 6, Hive Blockchain Technologies (Nasdaq: HIVE) published the company’s August accumulation report which talks astir a “record monthly BTC production” and the assignment of a caller wide counsel member. Hive besides discussed the upcoming Ethereum web modulation from proof-of-work (PoW) to proof-of-stake (PoS).
Hive dedicated 6.49 terahash per 2nd (TH/s) of Ethash hashrate toward the Ethereum concatenation successful August and saw an mean of 6.19 TH/s during the past 30 days. The publically listed mining cognition besides talked astir the Bellatrix upgrade and the estimated Merge date. The institution has been preparing for the modulation and volition dedicate its GPU hashrate elsewhere.
“Hive has already commenced investigation of mining different GPU mineable coins with its fleet of GPUs, and is implementing beta-testing this week, anterior to [The Merge],” Hive said connected Tuesday. “The company’s method squad is implementing a strategy to optimize the hashrate economics of the 6.5 Terahash of Ethereum mining capableness successful the lawsuit of Ethereum’s modulation to proof-of-stake, crossed assorted different GPU mineable coins.”
Most of Hive’s mining capableness is dedicated to mining bitcoin (BTC) but it besides noted that mining ethereum has been profitable. Hive notes that the company’s ethereum mining operations person “historically generated 3 to 4 times much gross per megawatt than bitcoin mining.”
In August Hive managed to get 518.8 BTC and accrued 16.7 BTC per day. Hive claims to person adjacent to 4 exahash oregon 3,900,000 terahash dedicated to the Bitcoin blockchain. Hive said it saw “a highest BTC Equivalent Hashrate of 3.92 Exahash successful August, with [an] mean hashrate of 3.70 Exahash of BTC Equivalent Hashrate passim August.”
What bash you deliberation astir Hive explaining that it has been researching different minable GPU coins up of The Merge? Let america cognize what you deliberation astir this taxable successful the comments conception below.
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