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

On March 7, the publicly-listed mining agency Hive Blockchain Technologies introduced the corporate inked a cope with Intel to buy new ASIC mining chips. Additionally, Hive has fashioned an settlement with an unique design producer (ODM) and a non-binding letter of intent with Compute North. Hive mentioned the corporate plans to deploy 100 MW of mining capability to Compute North’s renewable power services in Texas.

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

The blockchain firm and mining operation Hive (TSX.V: HIVE) (Nasdaq: HIVE) has revealed it has entered a provide settlement with Intel Corporation (Nasdaq: INTC). Hive will acquire Intel’s new ASIC mining chips that will likely be leveraged in custom-built gear made for the corporate. The blockchain agency says it has a producing settlement with an ODM that focuses on “electronics manufacturing.”

“Hive’s engineering group will draw on its experience in {hardware} and software program implementation and can work intently with Intel and the ODM associate on the methods integration,” Hive’s announcement notes. “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, can be an anticipated enhance of as much as 95% in our mixture Bitcoin mining hashrate from 1.9 exahash per second.”

In addition to the cope with Intel, Hive detailed it closed one other settlement with Compute North with a view to deploy a 100 MW mining heart in Texas. Frank Holmes, Hive’s government chairman, mentioned the Compute North group “shares the identical dedication to utilizing renewable power that Hive has adhered to since its itemizing because the world’s first publicly traded crypto-miner.”

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

Hive says that additional particulars in regards to the 100 MW facility will likely be introduced sooner or later. Last 12 months, Hive purchased an excessive amount of mining rigs from Canaan and in mid-October it expanded its knowledge heart campus in New Brunswick, Canada, with 40 MW of capability. The identical month, Hive acquired one other 6,500 mining rigs from Canaan. Hive holds a stability of 2,374 bitcoin (BTC) as of February 28, 2022, and the corporate produced 244.4 BTC final month.

Moreover, Hive joins companies like Griid, Argo Blockchain, and Jack Dorsey’s Block (previously Square) which have plans to accumulate Intel’s ASIC chips. Intel revealed its new mining chips in mid-February and claimed the circuits will ship 1,000x higher efficiency than present opponents. Later, on the International Solid-State Circuits Conference (ISSCC) final month, Intel gave the occasion attendees a sneak peak on the ‘Bonanza Mine BMZ1’ blockchain accelerator mining chip and the ‘Bonanza Mine BMZ2’ as nicely.

What do you consider Hive’s plans to buy Intel ASIC chips and the 100 MW facility in Texas with Compute North? Let us know what you consider this topic within the feedback part under.

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